Bailout is Working
Federal Bailout
Treasury chief responds to criticism of the progress of $700B bank rescue plan; lawmakers push for additional help for homeowners. Lawmakers challenged Treasury Secretary Henry Paulson on his handling of the $700 billion bank bailout program and stressed the importance of doing more to help homeowners.
Joined by Federal Reserve Chairman Ben Bernanke and Federal [...]
Internet Payday Lenders charged by the FTC
FTC PayDay
FTC Charges Internet Payday Lenders with Failing to Disclose Key Loan Terms and Using Abusive and Deceptive Collection Tactics.
The Federal Trade Commission and the State of Nevada have charged 10 related Internet payday lenders and their principals, based mainly in the United Kingdom, with violating federal and state law by not disclosing key loan [...]
Wells to get Big Tax Break in Wachovia Deal
Big Tax Break, Wachovia Deal
Rules changed to benefit buyers of struggling banks.
Some of the nation’s biggest banks including Wells Fargo & Co. are in for a windfall – on top of the $700 billion government bailout – thanks to a new tax policy quietly issued by the Treasury Department.
The notice gives big tax breaks [...]
Unfair and Deceptive Collection Tactics
Collection Tactics
Court Prohibits Finance Company From Unfair and Deceptive Collection Tactics. Firm Continued to Seek Payments from Consumers Defrauded by NorVergence, Inc.
Last week the Federal Trade Commission (FTC) announced that ‘IFC Credit Corporation’, a finance company that the Commission charged with unfairly collecting on equipment leasing contracts and misrepresenting consumers’ obligations to pay, cannot [...]