Lohan Causes Financial Issues for New Movie »
It seems that the latest mess with Lindsay Lohan is now affecting the producers of the new movie she is supposed to be starring in. According to sources close to the movie production team, Lohan’s recent failed drug test is making things very difficult for the production of the movie “Inferno,” which has Lohan portraying [...]
SEC Forms New Regulations For Financial Companies »
The SEC, Securities and Exchange Commission, announced that proposals were in the works to help restrict on accounting practices by financial companies that try to conceal how much debt they actually have. These regulations are in response to the Lehman Brothers fiasco that helped bring the economic collapse underfoot in 2008.
The new regulations would make [...]
Banks Finance Payday Loan Centers »
In 2008, the collapsing of the financial system was touched off by Lehman Brothers. Within years the government wrapped its fingers into every aspect of the financial crisis, finding that bailing out the top of the long list of banking institutions was the only reliable way of kick starting the economy for recovery.
Now, we have [...]
Bank of America and Higher Fees »
Bank of America has issued a statement on Tuesday stating that the banking giant will have to raise the minimum account balance on checking accounts or set new fees for any account that falls under the new monthly minimums. This is supposed to help the bank maintain a level of revenue unheard of before the [...]
43% Default with For-Profit Schools »
U.S. college graduates are learning a valuable lesson in low defaults. According to a recent report done by the U.S. Education Department, students that graduated from college and started their repayment plans for student loans in late 2007 were 52% more likely to default than students from three years earlier.
Since the onslaught of the financial [...]
New Regulations For Global Banks »
New rules for the world’s largest banks have been agreed upon in a bid to hold up the financial collapse that seems to be running rampant these days. These new rules will help create a cushion by forcing the banks to hold more capital in reserves than they currently do.
Not only will this create a [...]
Annoying Phone Calls Turn to Social Networking »
If you thought having debt collectors calling you at all hours of the day and night was annoying, just wait until one of them pops up on your Facebook account and adds you as a friend. There have been a growing number of debt collectors signing onto Facebook in the hopes of catching the people [...]
Cutting Back on Credit Cards Not Helping »
For the 23rd consecutive month, consumers in the US have put their credit cards away in an attempt to work their way out of debt. While this seems like the smartest thing for people to do, it’s actually making the financial recovery take more time to get up to speed.
Although Americans have upped the borrowing [...]
EIH Bank Placed Under Sanctions »
EIH Bank based in Hamburg, Germany was hit with sanctions on Tuesday by the US Treasury Department due to allegations that the bank was helping Iran get past international sanctions to support its nuclear activities. The bank has been known to handle billions of dollars’ worth of transactions.
EIH is one of the few remaining access [...]
Financial Commission Report Disagreements »
The congressional commission that is looking into the financial breakdown has been rumored to have dissension amongst its ranks but high ranking officials in the commission seem to be downplaying that dissension. Last month there were two members that left the commission with rumors of disagreements floating in the air.
Although the disagreements have shown to [...]
