While most of Washington’s attention is on mopping up the home mortgage mess, federal lawmakers are also launching another heavy-duty cleaning job — reforming the credit card industry. As you’d expect, the bank and credit card issuers, such as Visa and MasterCard, aren’t happy about this attention and are determined to thwart any new Congressional efforts at bolstering regulations...
Financial Services Industry Archive
September 2008
The federal takeover of home mortgage lenders Freddie Mac and Fannie Mae is prompting banks nationwide to mull over their own rescue plans. Many banks own common or preferred stock in the two government-sponsored agencies while a handful “have holdings that are significant,” according to a Sept. 7 statement from federal bank regulators. Unfortunately, these stock investments risk being...
Should you itemize or take the standard deduction? H&R Block will figure out which will get you a larger refund. What I am more interested in deciphering is why the nation’s largest tax service provider is being hurt by the real-estate meltdown. I originally thought the company had limited its future exposure to the downward spiral in real-estate markets after selling its former...
Under the government takeover plan of Fannie Mae and Freddie Mac announced Sunday, top executives and board of directors from both troubled mortgage lenders — which hold or guarantee more than $5.2 trillion of the nation’s $12 trillion of mortgages — are being replaced. Curious as to how much Daniel Mudd, the outgoing CEO of Fannie Mae, and Freddie Mac’s departing CEO...
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- As Income Mobility Falls, American Dream Fades
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The financial industry meltdown has been the worst since the great depression. BNET Financial provides daily industry trends and news coverage with insights for managers and executives about the major financial services companies in the banking and finance sector. In addition to detailed company profiles, we bring you industry analysis on new mergers, partnerships, financial products, rates, investments, capital, and a host of other critical factors of success in the finance business.