The Lilly Ledbetter Fair Pay Act of 2009
President Obama signed his first piece of legislation today, the Lilly Ledbetter Fair Pay Act of 2009. President Obama opened with, “Well, this is a wonderful day. First of all, it is fitting that the…
Current Events
Stay updated on financial news, market trends, and economic changes that affect your money. From interest rate hikes to government policy shifts, we break down what’s happening now—and what it means for your finances.
U.S. Treasury to Improve Transparency and Accountability on TARP Funds
The U.S. Treasury Department announced on Wednesday efforts to increase transparency and accountability for the Troubled Asset Relief Program (TARP) and “a new policy of posting investment contracts for future completed transactions to the Department’s…
Mortgage Company Victims Get Their Money Back
The Federal Trade Commission announced yesterday that almost $28 million was returned to about 86,000 consumers as part of a settlement with the Bear Sterns Companies, LLC and EMC Mortgage Corporation. The September 2008 settlement…
Mortgage Broker Throws Consumer Credit Reports in Dumpster
As a whole, American consumers have become much more educated in the past few years about the threat of ID theft. We’ve really stepped it up to protect ourselves from this widespread crime – a…
President Obama Inaugurated Today
Today at noon eastern standard time Barack Hussein Obama became the 44th President of the United States of America. The inauguration of America’s first black President brought huge crowds to Washington, estimated at about 1.4…
The First-Time Homebuyer’s Credit – An Interest-Free Loan from the IRS
The Taxpayer’s Government Bailout For any of you who may have or are thinking about helping to rescue the real estate market by buying your first house, be aware of the interest-free loan that you…
IRS Expands Free File to Most Taxpayers for Tax Year 2008
The Internal Revenue Service announced yesterday that the e-file program will open on January 16, 2009, with new features that expand access to electronic filing to help taxpayers get their refunds quicker. E-filed tax returns…
Homeowners Rush to Refinance at Record Low Interest Rates
Housing downturn sees no end as majority of new loan applications are for refinance. The Mortgage Bankers Association (MBA) reported today that mortgage loan application volume was up 15.8% from the previous week, on a…
Wachovia Bank Sends Restitution Payments to Fraud Victims
Since December 11, 2008, Wachovia Bank began mailing restitution checks totaling more than $150 million to victims of telemarketing fraud. The checks are reimbursement for payments taken from Wachovia Bank customer’s accounts, authorized without the…
Loan Delinquencies on the Rise
The nation’s economic troubles are taking its toll on consumers carrying too much debt – delinquencies are rising among many types of consumer credit accounts, as reported by the American Bankers Association (ABA) for the…