In the banking sector, love was not in the air this Valentine’s Day. The nonprofit green economy organization Green America encouraged unhappy consumers to dump their mega-banks. This frees them to begin a new relationship with financial institutions that support green practices like fair trade, disaster relief, and renewable clean energy. Institutions like payday lending [...]
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Nonprofit Encourages Americans To Break Up With Their Bank
By JCoxen on Monday, March 26th, 2012 | No Comments
Federal Reserves Operation Twist Is A Mixed Bag
By JCoxen on Tuesday, September 27th, 2011 | No Comments
The latest attempt by the Federal Reserve to revive the economy has been labeled Operation Twist. By driving down interest rates over the long-term, the Fed hopes to get the economy humming again. However, experts report that the move will not greatly affect credit card users, savers, or people purchasing cars or homes. Mixed results [...]
Read More...Fed Looks For Ways To Improve Economy
By JCoxen on Thursday, September 22nd, 2011 | No Comments
The historical way to improve a struggling economy is to lower interest rates. This helps improve the housing market, which has played a key role in every economic recovery since 1982. However, rates for U.S. mortgages are the lowest in 40 years and the economy is still floundering. Though they want to purchase a home, [...]
Read More...Bad Debts Present Even Within Emerging Markets
By JCoxen on Monday, September 5th, 2011 | 2 Comments
A huge amount of bad debt led to the global financial crisis. People who were not safe bets were provided credit cards, loans, and cash advances. Though these individuals may have appeared like safe bets during a good economy, the truth was revealed when the economy took a turn for the worse. The other factor [...]
Read More...Don’t Look Now But Subprime Lending Is Back
By JCoxen on Wednesday, July 20th, 2011 | No Comments
Since the financial crisis, subprime borrowers have generally been taboo. However, it seems to be becoming easier for these individuals to obtain a home loan. The Wall Street Journal (WSJ) recently reported that some private investment firms are extending financing to homebuyers with credit scores lower than bank standards. In addition, some are accepting alternative [...]
Read More...Banks Starting To Let Loans Trickle
By JCoxen on Monday, July 11th, 2011 | No Comments
For months, the lending faucet has been turned off but things seem to be changing. Major banks in the U.S. appear to be allowing loans to trickle forth. Forecasters believe that second quarter earnings reports will reflect a small reversal of the long-term shrinking in bank loan business. In addition, credit quality is also improving [...]
Read More...First AAA Bank Opens In Nebraska
By JCoxen on Friday, July 8th, 2011 | No Comments
AAA has just opened its first bank, located next to its AAA auto club facility in Omaha, Nebraska. Initial capital of $50 million was provided for this venture, placing the bank in the top 15 of the 222 banks in the state. Though this bank has enough capital to support $300 million or more in [...]
Read More...Debt Collection Lawsuits Dropped By J.P. Morgan and Chase
By JCoxen on Monday, July 4th, 2011 | No Comments
Over one thousand U.S. debt collection lawsuits have been dropped by J.P. Morgan & Chase. Some borrowers with credit card debt will not need to take second jobs or payday loans to repay it. The bank is staying mum about exactly how many cases were dismissed or why. J.P. Morgan is the second largest bank [...]
Read More...Banks Now Approving More Business Loans
It is not common to find businesses taking out payday loans or seeking cash advances. A restricted lending environment has led companies to consider dire measures like these just to make ends meet. However, a survey conducted by Pepperdine University researchers indicates that the tide may be turning. Lenders seem to be approving more business [...]
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