Posts tagged as:

Federal Reserve

Does July of 2010 seem a long way off to anyone else? (AFFIL Week)

February 12, 2009

On December 18, the Federal Reserve Board released new regulations for credit card issuers.  The substance of the regulations is great – in some ways it’s even stronger than what was proposed (more on this below).  But the ridiculous problem with the Fed’s announcement is that, for some reason, the rules won’t go into effect [...]

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FEDS: BANKS MUST STOP MISBEHAVING … IN 2010

December 18, 2008

FEDS: BANKS MUST STOP MISBEHAVING … IN 2010 | MSNBC

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Regulators adopt new credit card rules

December 18, 2008

Regulators adopt new credit card rules | AP (via Yahoo! News)

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November 5, 2008

“The Federal Reserve Board on Tuesday alerted the public to instances of questionable solicitations directed at consumers. These solicitations promise consumers access to personal loans through a nonexistent Federal Reserve lending program.” The Fed does not make loans, folks. Press Release, November 4, 2008 | The Federal Reserve

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Bailouts galore: Fed takes over AIG

September 16, 2008

It’s official, the U.S. taxpayer is now buying bad debt by the billion. The Fed just decided to give insurance giant AIG an $85 billion loan to keep it solvent. Can governments declare bankruptcy?
U.S. Plans Rescue of AIG to Halt Crisis; Central Banks Inject Cash as Credit Dries Up | Wall Street Journal

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Consumers: We’re Mad As Hell And We’re Not Going To Charge It Anymore!

August 28, 2008

Consumers: We’re Mad As Hell And We’re Not Going To Charge It Anymore! | Consumerist

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Fed to Issue New Mortgage Lending Regulations Next Week

July 9, 2008

Fed to Issue New Mortgage Lending Regulations Next Week | Consumer Law & Policy

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Angry Consumers Flood Federal Reserve Board with Complaints

July 1, 2008

Press release from Americans for Fairness in Lending. Full release after the jump (it is not yet up on AFFIL’s website, so I cannot link to it).

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The Interest Rate Outlook Continues to Improve

June 26, 2008

The Interest Rate Outlook Continues to Improve | Queercents

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Hate your credit card? Tell the Fed

June 6, 2008

The Federal Reserve Board and two other regulators recently surprised consumer advocates by proposing some decent rules that would reform credit card lending. Six AFFIL Partners issued a joint statement calling the proposal as “an important first step to stop credit card companies from pumping up their profits by using hidden traps and tricks [...]

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Bank of America to pay two Countrywide execs $19 million for running company, economy into the ground

March 30, 2008

In an odd sort of thank-you note, Bank of American will give two top Countrywide executives, CEO Angelo Mozilo (pictured) and President David Sambol, $19 million in stocks. Bank of America took over Countrywide, the company made famous by writing loans all but guaranteed to fail. Countrywide’s loose lending habits were a significant contribution to [...]

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What the Fed rate cut means

January 22, 2008

This morning, the Federal Reserve Board of Governors made an “emergency” rate cut today of .75% to the federal funds rate. (Federal Reserve press release.) The Fed, in addition to everyone else, seems to be worried about the state of the economy and the potential for recession.
But what does this really mean? If you already [...]

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Payday holiday: do we need a vacation from payday lending?

December 17, 2007

In a new staff study from the Federal Reserve Bank of New York, Donald Morgan and Michael Strain take another look at whether payday loans are predatory or, in Morgan’s terms, welfare enhancing. This time around, Morgan takes a look at the “afermath” when Georgia and North Carolina banned payday lending.
(Dr. Morgan has commented on [...]

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Links for consumers facing foreclosure

September 11, 2007

The Federal Reserve has a list of resources for consumers facing foreclosure.
Consumers in this situation may also want to check out Don’t Borrow Trouble and Acorn, two organizations that can help.
[via CL&P Blog]

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