Mary Tomkins is a freelance writer located in Spartanburg, SC, with emphasis on economic news and research on the financial industry.
The Federal Trade Commission reported on Wednesday that they’ve charged a mortgage foreclosure “rescue” operation with violating the FTC Act by falsely claiming that they would stop foreclosure or fully refund the consumer’s money. A… Another Scam Mortgage Foreclosure Rescue Company
The House and the Senate reached a compromise this afternoon on the much anticipated American Recovery and Reinvestment Plan. Lawmakers found a middle ground to settle the differences in the Senate’s version of the bill… Congress Compromises on Stimulus Package
Treasury Secretary Timothy Geithner on Tuesday unveiled the government’s plan to attack the ongoing credit crisis and stabilizing the nation’s banking system. But before outlining the Financial Stability Plan, he explained how economic growth was… Treasury Secretary Announces Financial Stability Plan
As consumers continue to limit their spending, increase their savings rate, and decrease their credit balances to protect themselves from the unknowns in the economy, businesses across nearly all industry sectors continue to cut jobs.… Unemployment Rate at 7.6% for January 2009
The Labor Department reported today that the estimated number of recently unemployed workers claiming benefits for the first time increased to 626,000 for the week of January 31, 2009, up by 35,000 from the previous… Jobless Claims Rise Again
President Obama signed the Children’s Health Insurance Program Reauthorization Act last night, which renews the health care plan known as SCHIP (state children’s health insurance program) for 7 million children and opens it up to… Children’s Health Insurance Program Expanded to Cover 11 Million
Today President Barack Obama and the U.S. Treasury Department announced new restrictions on executive pay for institutions that receive government aid from TARP funds. “These measures are designed to ensure that public funds are directed… Pay Caps for Executives of TARP Fund Recipients
The U.S. housing market is starting to show some signs of improvement as homebuyers begin to take advantage of more affordable home prices and historically low mortgage interest rates. According to a report from the… Pending Home Sales up for December 2008
Citigroup released a fourth-quarter 2008 report today outlining how it has used much of the $45 billion bailout they’ve received from the U.S. Treasury under the Troubled Asset Relief Program (TARP). Citigroup’s first quarterly report… Citigroup Releases First Quarterly Report on TARP Funds
The U.S. economy continues in a dramatic slowdown. The government reported today that real gross domestic product – the output of goods and services produced by labor and property in the U.S. – is estimated… U.S. Economy Shrinks Less Than Expected