Fannie and Freddie Legal Bills Cost Taxpayers $160 Million+

Mortgages

Fannie and Freddie Legal Bills Cost Taxpayers $160 Million+

Fannie and Freddie Legal Bills Cost Taxpayers $160 Million+

American taxpayers already have spent more than $160 million to defend lawsuits against Fannie Mae and Freddie Mac, the two federally-owned mortgage giants. More than $24 million of that money went to defend Fannie’s top three former executives, who caused many of the lawsuits by “deliberately and systematically” lying about the company’s earnings to boost… Read More

Financial News Roundup: Long-Term Care Concerns, Consumer Spending Rises

Personal Finance

Financial News Roundup: Long-Term Care Concerns, Consumer Spending Rises

Financial News Roundup: Long-Term Care Concerns, Consumer Spending Rises

Today’s top news headlines feature new consumer sentiment figures and the most recent issue surrounding long-term care. Plus, find out why most small businesses find themselves in trouble during tax season. Policyholders Grow Concerned Over Long-Term Care Contracts The Wall Street Journal Americans who own older long-term care policies are finding their claims for particular… Read More

New Study: Corporate Fraud In Decline

Identity Theft

New Study: Corporate Fraud In Decline

New Study: Corporate Fraud In Decline

A study of 12 million employees around the globe reports that corporate fraud is down for the third quarter of 2010 – after three years of surprisingly high growth. The study is called the Quarterly Corporate Fraud Index, and is conducted every quarter by two companies – The Network, Inc. and BDO Consulting. The most… Read More

New Bill Would Cap Credit Card Interest Rates

Credit Cards

New Bill Would Cap Credit Card Interest Rates

New Bill Would Cap Credit Card Interest Rates

The newly introduced Interest Rate Reduction Act would limit rates on all credit cards and other consumer loans to just 15 percent, according to New York representative Maurice Hinchey, who wrote the law. The law was written out of concern that lenders can boost rates with little warning and justification. “Many hardworking Americans are using… Read More

Homeowners: The Floggings Will Continue Until Morale Improves

Mortgages

Homeowners: The Floggings Will Continue Until Morale Improves

Homeowners: The Floggings Will Continue Until Morale Improves

The worst of the mortgage crisis may be over. But that doesn’t necessarily mean that homeowners are out of the woods just yet. A series of reports released recently suggest that housing markets will continue to suffer for some time to come. First there was this report by the Department of Housing and Urban Development,… Read More

Obama Administration to Boost Foreclosure Prevention Measures

Mortgages

Obama Administration to Boost Foreclosure Prevention Measures

Obama Administration to Boost Foreclosure Prevention Measures

The Obama administration believes the way mortgage servicers are paid is unfair and needs to be corrected, according to a report from Reuters. Because of the current system, these companies have no incentive to help consumers renegotiate the terms of their loans so they can better afford to make payments, and consequently, stay in their… Read More

Follow Friday: Weekly Web Roundup (1/21/11)

Personal Finance

Follow Friday: Weekly Web Roundup (1/21/11)

Follow Friday: Weekly Web Roundup (1/21/11)

In honor of Twitter‘s Follow Friday tradition, we’ll be taking a look and highlighting some of our favorite finance blogs and news updates from around the Web. Take a look at our top picks for this week and if you like them, we encourage you to follow them on twitter for regular updates. We even… Read More

Foreclosures Still Plague Minnesota

Mortgages

Foreclosures Still Plague Minnesota

Foreclosures Still Plague Minnesota

In 2010, the number of notices that would eventually lead to foreclosure received by homeowners increased 8 percent over the year before, according to a report from the Minnesota Home Ownership Center, which compiled notices received by the state’s Homeownership Advisors Network. Overall, there were 71,665 of these notices sent to state residents, up from… Read More

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