Financial News Roundup: Group Interviews Become Popular, Americans Happy With Standard of Living

Personal Finance

Financial News Roundup: Group Interviews Become Popular, Americans Happy With Standard of Living

Financial News Roundup: Group Interviews Become Popular, Americans Happy With Standard of Living

Today’s top news headlines feature the results of a new survey that shows Americans are satisfied overall with their standard of living and reasons low-income families rely on alternative banking services. Plus, find out why many job applicants disapprove of group interviews. Group Interviews Unattractive To Job Applicants Fortune Many companies are setting up group… Read More

Two Credit CARD Act Loopholes You Need to Know About Right Now

Credit Cards

Two Credit CARD Act Loopholes You Need to Know About Right Now

Two Credit CARD Act Loopholes You Need to Know About Right Now

I recently came across two really big—no, make that gargantuan—CARD Act loopholes that no one has made much of a fuss about. A few weeks ago, I was doing a little “light” reading on Helpwithmybank.gov, which is associated with the Comptroller of the Currency Administrator of National Banks (OCC), and read a Q&A that made… Read More

Big Banks Offer Big Mortgage Mods, No Application Required

Mortgages

Big Banks Offer Big Mortgage Mods, No Application Required

Big Banks Offer Big Mortgage Mods, No Application Required

Two of the nation’s largest banks are letting people out of expensive mortgages, including people who never asked for the help. Chase and Bank of America are offering some homeowners big reductions on interest rates, and in some cases even lowering the principal of the loans, according to bank statements and a recent story by… Read More

Fired! Obama Replaces His In-House Critic on Financial Reform

Personal Finance

Fired! Obama Replaces His In-House Critic on Financial Reform

Fired! Obama Replaces His In-House Critic on Financial Reform

You can diss your boss in public only so many times before he becomes your former boss. John Walsh, acting director of the Office of the Comptroller of the Currency, learned that lesson the hard way on Friday after President Obama nominated a different bank regulator, Thomas J. Curry, to take over leadership of the… Read More

EHLP to Extend Mortgage Help to Consumers

Mortgages

EHLP to Extend Mortgage Help to Consumers

EHLP to Extend Mortgage Help to Consumers

The U.S. Department of Housing and Urban Development recently launched a new foreclosure assistance initiative known as the Emergency Homeowners’ Loan Program, which will give more than $1 billion to consumers nationwide who fell behind on their mortgage payments due to job loss or unforeseen medical bills. Approved homeowners will receive a maximum of $50,000… Read More

Morgan Stanley Data Breach Hits Investors

Identity Theft

Morgan Stanley Data Breach Hits Investors

Morgan Stanley Data Breach Hits Investors

Personal information belonging to 34,000 investment clients of Morgan Stanley Smith Barney has been lost, and possibly stolen, in a data breach. According to two letters sent to clients, and obtained by Credit.com, the information includes clients’ names, addresses, account and tax identification numbers, the income earned on the investments in 2010, and—for some clients—Social… Read More

Financial News Roundup: Recession Anniversary Not Celebrated, Ill Employees Explore Career Options

Personal Finance

Financial News Roundup: Recession Anniversary Not Celebrated, Ill Employees Explore Career Options

Financial News Roundup: Recession Anniversary Not Celebrated, Ill Employees Explore Career Options

Today’s top news headlines feature career advice to workers who have been diagnosed with a long-term illness and reasons many Americans are not celebrating the nation’s two-year ‘economic recovery’ anniversary. Plus, find out why many employers now consider the 40-hour work week part-time hours. ‘End Of Recession’ Anniversary Met With Little Enthusiasm The Associated Press… Read More

What Drives a Credit Score?

Credit Score

What Drives a Credit Score?

What Drives a Credit Score?

I frequently get questions from consumers wanting to understand what credit information in their credit report is most important or most heavily weighted in the calculation of their credit score.  Each person’s score is unique as it reflects projected risk based on credit information resident on that person’s credit file at the time the lender… Read More

Mortgage Scammer Gets 30 Years, Avoids 385

Mortgages

Mortgage Scammer Gets 30 Years, Avoids 385

Mortgage Scammer Gets 30 Years, Avoids 385

The architect of one of the largest bank frauds in American history was sentenced to 30 years in prison late last week. Lee B. Farkas, former CEO of one of the largest mortgage lending companies during the subprime housing boom, also will have to pay $38.5 million in fines. The scam cost banks and investors… Read More

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