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News

2007

September

10
  • SEC critical of senior investment pitches. An investigation by federal and state regulators of "free lunch" investment seminars aimed at seniors has found high-pressure sales pitches masquerading as educational sessions, pervasive misleading claims for unsuitable financial products and even fraud. Much
09
  • Paying with plastic or paper. Spending smart isn't just about what you buy, but how you pay. Often that decision is based on the same question you're asked about grocery bags at the supermarket checkout: paper or plastic?
  • California's ambitious health plan fails. After losing much of August to a budget impasse, state lawmakers and Gov. Arnold Schwarzenegger have been unable to reach agreement on a proposal to extend health coverage to all uninsured Californians, raising the possibility
  • Some mortgage originators skip state licensing. Concerned about mortgage fraud and predatory lending practices, many states have toughened their laws by requiring loan officers or originators to undergo extensive background checks and show proof of professional experience and training. Still, attracted
07
  • Senators call for wireless bill. Are you still baffled as to why you give your cell phone provider 97 cents every month for a county gross receipts charge or $1.25 for federal universal service? Does it feel like the two-year wireless contract
  • Report shows first drop in U.S. jobs figures in 4 years. Employers eliminated 4,000 jobs in August, the Labor Department said today, showing that the job market was soft even as conditions in credit markets began to deteriorate. Economists said the report provides the Federal Reserve with
  • Senate votes to increase student aid. e Senate voted Friday to increase college financial aid by cutting roughly $20 billion in government subsidies to banks and giving it to students. The bill would boost the maximum Pell grant, which goes to the
  • Contagio de crisis ‘subprime’. Los propietarios de casas que están batallando para lidiar con los fuertes incrementos en sus pagos de hipoteca ajustable fueron golpeados con un número récord de noticias de embargos durante la primavera,
06
  • FCC may ban cable exclusivity deals. ederal regulators appear set to crack down on cable companies that sign exclusive deals with apartment and condominium buildings, denying residents the fruits of emerging pay-TV competition. Federal Communications Commission Chairman Kevin Martin is recommending
  • Home-equity loans dry up. When James Chou's credit card debt began to spin out of control a few years ago, he turned to a home-equity loan to pay it off. It proved to be a wise choice. Interest rates
  • No free lunch for investors. I'm not quite ready for membership in AARP, but increasingly I've been getting invitations in the mail for me and my husband to attend investment seminars that promise to help us ensure we have enough
  • SEC sues alleged timeshare swindlers. The Securities and Exchange Commission, cracking down on scams targeting retirees, sued 26 people and companies for their roles in a $428 million fraud involving Mexican timeshare rentals, the agency said. The ring duped thousands of people
05
  • No more credit line sharing. A sea change in credit scoring could deflate your magic number: Fair Isaac, which calculates the widely used FICO score, recently announced that it would no longer recognize authorized-user accounts. Popular with families, the accounts
  • Confessions of a credit-card pusher. It all started as a way to make some quick cash. In 2002, at the beginning of his freshman year at the University of Pittsburgh, Ryan Rhoades needed some extra spending money. So when his friend
  • Majoring in credit card debt. Seth Woodworth stood paralyzed by fear in his parents' driveway in Moses Lake, Wash. It was two years ago, during his sophomore year at Central Washington University, and on this visit, he was bringing home
  • Elderly ensnared by investment pitches. Less than a year before he died, Arthur Moyer converted his $500,000 life savings into a complex investment he could not tap for a decade without incurring steep fees. The 79-year-old former machinist from Pennsylvania poured
  • Piden flexibilidad a prestamistas. La Reserva Federal y otras agencias reguladoras pidieron ayer a las empresas prestamistas que sean flexibles con sus acreedores, para evitar que éstos se declaren insolventes en el pago de sus hipotecas. Las entidades emitieron
03
  • Savers may feel fallout from a Fed rate cut. People with money in the bank may soon help foot the bill to stabilize Wall Street. Many investment pros are betting that the Federal Reserve will cut its benchmark short-term interest rate this month to
  • Companies try to retain older workers. Every time John Remore steps up to his workstation to form a piece of sheet metal, he brings an intangible asset to the job: 42 years of experience, dating to lessons from his father. Remore, 60, doesn't
 

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