What the Credit Card Bill of Rights means for consumers - Boston Globe
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Yesterday, Congress passed the Credit Cardholders Bill of Rights Act of 2009 and sent it to President Obama for his signature. This bill amends the Truth in Lending Act and provides consumers with many reforms to the way credit cards are issued and …
New credit card rules a positive first step - CNW Group
TORONTO, May 21 /CNW/ - Restaurant owners across Canada support Minister Flahertys announcement today as a first step in establishing the rules of play for credit cards in Canada. While the announcement focused on protection for cardholders, the …
Canada announces new credit card rules - CNN Money
TORONTO (Reuters) - Credit card issuers will be required provide a standard 21-day grace period on payments for new purchases under regulations being introduced by the Canadian government, Finance Minister Jim Flaherty said Thursday. The new Canadian …
New credit card rules a positive first step - CNW Group
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TORONTO, May 21 /CNW/ - Restaurant owners across Canada support Minister Flahertys announcement today as a first step in establishing the rules of play for credit cards in Canada. While the announcement focused on protection for cardholders, the …
Man admits credit card fraud - Billings Gazette
A Billings man admitted this morning that he obtained credit cards in his brothers name and charged $35,000 in unauthorized goods and services. Chad Allen Wilson, 28, pleaded guilty in U.S. District Court in Billings to an indictment charging him …
Credit bill OK
d with gun provision - The Washington Times
Congress on Wednesday approved and sent to President Obama a bill to rein in the credit card industry, but not before handing Republicans a rare legislative victory by including an unrelated amendment to allow visitors to carry a licensed gun in …
Mauritius Discusses IMF Credit Line, Finance Minister Says - Bloomberg
Japan bank bailout strategy
Japan is undoubtedly one of the strongest economies in the world and it has been successful in retaining that position even though the legislation and financial constitutions are not the most applauded ones. The Japanese government is unusually supportive to banks and they have a very different policy in terms of helping banks by infusing large amounts of capital whenever the need be and thus we can say that Japan bank bailout strategy helps inferior but not superior. The normal public of Japan are not worried about their deposits in the bank and they will continue to let their deposit remain in the bank even if the news reports that there was a huge loss to the bank. This is because the banks and the financial institutions are covered by safety blanket provided by the Japanese government. They take a part of the stocks in return of huge amount of cash that inflow to make up for the losses. This amount is naturally equal to the equity value but always lesser than the deposits of the bank. The world economy is facing the worst crisis ever and the worst part is that it’s not showing any sign of improvement. Consumers are any countries in this case would normally panic and they have all the reasons to do that but this is not the case with consumers in Japan. They are aware of the government’s policy and Japanese government use their stronghold and power in every say in financial world to increase it further. The vast cash reserve is always on disposable in the time of need, but this is good for the general mass who deposits but not for the larger banks and superior financial institutions. This is because they are not getting fair returns of their investment and due to the safety blanket provided by the government to banks and other financial institutions the amount of risk cuts down to large amount making the saying no risk, no gain an unreal one as consumers gain in both the cases without effect. The government in this kind of circumstances will buy the stocks which are common and not which are preferred, this eventually brings down the return margins of the original shareholders. The basic concept which applies here is to increase the utmost capacity of leverage and reduce the capital. There are many reasons why bank will not tend to go along the government’s policy but since there would be not many options available for rescue, the bank bailout seems the only way out. Though from just a surface view Japan’s bank bailout strategy looks good but it might just end up creating more problems than solving proving it self to be counterproductive.
Obama Plan To Rein In Credit Default Swap Market (NPR)
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The Obama administration’s blueprint for how to prevent another financial crisis takes aim at credit default swaps. They are the derivatives that got AIG into trouble, requiring a $180 billion government bailout. The administration’s proposal would try to regulate those derivatives.
Stock Futures Discount Narrows as Credit Freeze Fades (Update1) (Bloomberg)
June 19 (Bloomberg) — Futures traders are demanding the smallest discounts to speculate on European stocks since June 2007 as equities rally and financial markets recover from last years credit seizure.
Credit Suisse Lifts Oil Forecast, Rosneft, KazMunaiGas Targets (Bloomberg)
June 19 (Bloomberg) — Credit Suisse Group AG raised its forecast for Brent crude oil and upgraded its target for stock prices on companies including Rosneft Oil Co. and KazMunaiGas Exploration Production.
FLO TV goes national thanks to DTV transition (source: Cnet)
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(Credit: Flo TV)FLO TV, provider of the FLO TV live mobile TV service, announced last Friday that it plans to go national with at least 39 additional markets by the end of the year. This was sparked by the DTV transition last Friday, which freed up the br… (source: Cnet) - RSS widgets and RSS feeds on Feedzilla.com
