Student Loans Hacked, $700,000 Gone »
The New Mexico Educational Assistance Foundation lost as much as $700,000 in early July due to an attack by hackers accessing their bank account. The non-profit assistance foundation manages student loans and has a worth of around $1.3 billion for over 90,000 New Mexicans. Thankfully, it was just money, and no personal records or data [...]
UK Banks See Profit, Told To Help Out »
Five of the UK’s largest banks are set to report an estimated £8.4 billion in profits. However, they have been told to keep a tight hold on the payouts and bonuses that normally would come after such a profit undertaking. This comes for the first time since the financial crisis hit, driving some banks straight [...]
Fed’s Block California Gov. Schwarzenegger’s EdFund Sell »
California Gov. Schwarzenegger’s idea of selling off the EdFund student loan operation was stopped by federal officials, stating that the federal government was going to end its contract with the state in October. Gov. Schwarzenegger had hoped to sell off the loan program for an estimated $1 billion in the hopes of closing up some [...]
Smaller Banks Still Under a Large Amount of Stress »
The US financial system seems to be stable but smaller banks are still under a large amount of stress according to the IMF (International Monetary Fund). The first comprehensive assessment was released Friday and seems to have mixed reviews in regards to the strengths and weaknesses of the US financial system.
Even though the financial reform [...]
Consumer Finances and Economic Confidence Down »
July sees a 9 month low in consumer confidence as thoughts of personal and economic finances gear up for problems in the future. With an already sluggish recovery seeming to stay at a standstill, the loss of .3 percent of the GDP in the second quarter has people a bit intense.
Although the GDP has increased [...]
Financial Turnaround Pushes Warner Chilcott »
The Irish company that produces birth control pills, Warner Chilcott Plc., has taken on the demand for leveraged loans enabling companies to have more debt by tapping into lenders for shareholder payouts. This high demand for payouts is enabling lenders to take a bit more risk and garner larger profits down the road.
Warner Chilcott stated [...]
Objections to Ranger’s Bankruptcy »
Alex Rodriguez, former Texas Rangers and current Yankees third baseman, has filed an objection to the bankruptcy plans of his former team, the Texas Rangers. The objection comes as Rodriguez feels he may not see the $24.9 million that is still owed to him in deferred compensation.
Rodriguez is not the only player that is listed [...]
New Financial Hope in Detroit? »
The online mortgage company, Quicken Loans Inc., stated in 2007 that it would be moving its offices into downtown Detroit, but slowed its pace when the financial markets dropped over the last couple of years. Now, it looks to start gearing up for the move, which could create a new hub for technology in the [...]
Fed Refuses Energy Efficiency Loans »
It appears that the Federal Housing Finance Agency has turned down a loan program that would help residents with upgrading their homes to be more energy efficient. This comes as a shock to lawmakers that determined the loan program could be just the thing needed to add jobs, and reduce greenhouse gasses across the nation.
In [...]
Man uses fake credit card at Tampa Macy’s »
TAMPA – Greg Baxter knew something was wrong when he started receiving credit cards in the mail that he hadn’t ordered.
