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…
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…
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…
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.…
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…
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…
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…
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…
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…
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…