Ex-Stanford exec plea deal reveals new details about alleged $7 billion fraudHOUSTON — The former finance chief for jailed Texas financier R. Allen Stanford said his boss created a business empire where blood oaths were taken to secure loyalty, bribes were paid from a secret Swiss bank account and investor profits were more fiction than financial genius. Noncustodial parents struggle with child support payments as a result of income lossNEW YORK — As the owner of a successful acupuncture clinic in a wealthy Washington suburb, David Vandenberg never had any problems making a $433 monthly child support payment. Health care overhaul plans provoking fears, worries among older Americans already on MedicareSPRINGFIELD, Va. — Turns out you can fear a government takeover of health care even if the government already took over your health care. Health care overhaul plans provoking specific concerns among older AmericansSPRINGFIELD, Va. — Turns out you can fear a government takeover of health care even if the government already took over your health care. Tax deadlines can be planning opportunity, not bureaucratic headache, for small businessesNEW YORK — With a pair of tax deadlines approaching, small business owners have a chance to turn some bureaucratic requirements into a planning opportunity for the rest of 2009. Rate of missed credit-card payments up from last year, but better than in 1Q, TransUnion saysNEW YORK — The rate at which credit card holders fell behind on their payments was far worse in the second quarter than it was last year, but did improve sharply from the alarming level seen in the first three months of 2009. Calif. hedge fund manager pleads guilty to investment fraud, cheating family out of $25MLOS ANGELES — The founder and manager of two Beverly Hills hedge funds has pleaded guilty to federal fraud charges. Even cheap stuff put on layaway for back to school, casting cloud over holiday shoppingNEW YORK — To gauge consumers’ strain, look no further than the rows and rows of plastic bags awaiting layaway payments at Kmart. They are filled with back-to-school basics — not just T-shirts and jeans but notebooks, magic markers and pencils. Solution or just deja vu? Wall Street has new way to turn mortgage debt into AAA bondsWASHINGTON — Wall Street may have discovered a way out from under the bad debt and risky mortgages that have clogged the financial markets. The would-be solution probably sounds familiar: It’s a lot like what got banks in trouble in the first place. Millions face smaller Social Security checks next year as rising drug costs diminish paymentsWASHINGTON — Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise. Recovery in Asia, Europe gain steam, but questions persist whether gains will holdWASHINGTON — Turnabouts in European and Asian economies, along with recent gains in the U.S., are raising hopes that the worldwide recession is drawing to a close. That’s not to say the coast is clear. Recovery in Asia, Europe gain steam, but fueled by stimulus spending and may not holdWASHINGTON — Turnabouts in European and Asian economies, along with recent gains in the U.S., are raising hopes that that the worldwide recession is drawing to a close. That’s not to say the coast is clear. Cities, states promote last-minute negotiations to ease rising tide of foreclosuresLOUISVILLE, Ky. — Peter and Gina Fochtman sat stone-faced at the courtroom table. Across from them was the man who could determine their family’s future: an attorney for the bank trying to foreclose on their home. Meltdown 101: At a time when nobody seems to be buying anything, what are people buying?What we’re buying — and not buying — says a lot about how consumers are feeling these days. Treasury prices move modestly higher for 4th time in 5 days amid ongoing economic concernsNEW YORK — Treasury prices rose modestly Wednesday as investors remain skittish about the speed and strength of an economic recovery. Regulations aimed at making credit card policies clearer may reveal higher fees, ratesNEW YORK — The rules your credit card company operates by will start getting much clearer on Thursday. But just because you’ll know what they’re up to doesn’t mean you’re going to like what you learn. FACT CHECK: Poll finds health overhaul myths gaining traction, fabled ‘death panels’ includedWASHINGTON — The judgment is harsh in a new poll that finds Americans worried about the government taking over health insurance, cutting off treatment to the elderly and giving coverage to illegal immigrants. Harsh, but not based on facts. 12 NJ hospitals paying more than 500 doctors to save money in a Medicare experimentMOUNT LAUREL, N.J. — A dozen New Jersey hospitals are paying doctors as an incentive to save the hospitals money. Meltdown 101: What kind of credit card reforms are starting to kick in this week?NEW YORK — New rules meant to give credit card users more information and stop policies that many consider abusive are starting to take effect. Customer files lawsuit against Wells Fargo over reductions in home equity lines of creditNEW YORK — The banking unit of Wells Fargo & Co. is facing a lawsuit claiming it illegally reduced the size of customers’ home equity lines of credit. Managing your credit; your spouse may think your job loss is a blessing; sleep distractionsSWIPING PLASTIC: It can sometimes be difficult to make a purchase if you don’t have a credit card — or impossible, in the event that you need to make a hotel reservation or rent a car. Parents trade baby-sitting shifts to make date night affordable in the economic recessionWATERTOWN, Mass. — When Jenny Iverson and her husband left Utah last year, they didn’t just lose a tight-knit community of relatives. They lost their network of free baby sitters. Credit card companies see slight improvement in credit trendsDES MOINES, Iowa — Most major credit card companies say fewer customers defaulted on their accounts in July, but that doesn’t necessarily mean they’re financially better off. TransUnion data shows number of homeowners 2 months past due on mortgages hit new high in 2QNEW YORK — The delinquency rate on U.S. mortgage loans hit an all-time high in the second quarter, but the pace of growth for the rate slowed, a possible sign the mortgage crisis may be beginning to turn the corner. TransUnion data shows mortgage delinquencies up in last 3 months of 2008 for 8th straight qtrCHICAGO — The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC. Sears, Kmart aims to help customers to save for Christmas buying by offering club cardNEW YORK — Sears Holdings Corp. aims to get an edge over its competition this holiday season by getting shoppers to start saving for Christmas presents now through a new card that mimics an old-fashioned Christmas club account. AP IMPACT: Can’t find a bank branch? Boom expansion bypassed most minority neighborhoodsDALLAS — Banks expanded at a breathtaking pace over the past five years, adding more than 10,000 full-service branches, but barely 1 in 10 were in inner-city, minority neighborhoods, another sign the financial spending spree skipped over substantial parts of the country. AP Analysis: Can’t find a bank branch? Boom expansion bypassed most minority neighborhoodsDALLAS — Banks expanded at a breathtaking pace over the past five years, adding more than 10,000 full-service branches, but barely 1 in 10 were in inner-city, minority neighborhoods, another sign the financial spending spree skipped over substantial parts of the country. Wealthy tax dodgers line up for leniency as US cracks down on secret offshore accountsWASHINGTON — A deal with Switzerland settling U.S. demands for the names of suspected tax dodgers from a Swiss bank has a lot of wealthy Americans with offshore accounts nervously running to their tax advisers — and the Internal Revenue Service. Some tips for protecting yourself when taking out student loansAs credit standards for private loans have tightened, some for-profit, or “proprietary,” colleges are now lending money directly to students. |
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