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Posted: July 27th, 2008, 8:03am CDT
CHAMPAIGN – This year didn't get off to a good start for the Electrical Workers 601 Credit Union in Champaign. The 54-year-old credit union, with 815 members, reported a staggering $202,000 loss for the first quarter of 2008. The credit union had a high percentage of loans classified as "nonperforming" – loans where principal and interest payments weren't being met.
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Posted: July 27th, 2008, 2:01am CDT
Mike Larson takes a closer look at the declining second quarter earnings of both big and small financial institutions. In this issue of Money and Markets, Mr. Larson discusses how although there is bad news for financial institutions, finance and real estate companies aren't doing that badly.
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Posted: July 26th, 2008, 7:21pm CDT
The economy isn?t at its best, oil prices are painfully high, foreclosures are really hurtfully high, job growth in many areas is sluggish or worse ... but over all, it?s not all that bad.
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Posted: July 26th, 2008, 3:20pm CDT
Rising interest rates, bad loans and globally-induced volatility in stock and bond markets have combined to hit the country's banks hard, according to early indications coming from their quarterly earnings.
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Posted: July 26th, 2008, 2:35am CDT
After weeks of one negative report after another, the economy finally got some news Friday that wasn't half bad. Wall Street, which suffered a stomach-churning drop Thursday, managed a modest gain. Oil prices hit their lowest point since early June, and gas...
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Posted: July 25th, 2008, 9:00pm CDT
In the U.S. housing market, all signs point to a buyer's market. But the economy's also in a credit crunch - which doesn't favor buyers. Kelly Cobiella has a few tips for prospective buyers in this Hitting Home .
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Posted: July 25th, 2008, 5:30pm CDT
After weeks of one negative report after another, the economy finally got some news Friday that wasn't half bad.
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Posted: July 25th, 2008, 8:26am CDT
As losses mount at American banks and the pain of the credit crisis spreads from housing and finance to the broader economy, many small companies complain it is increasingly difficult to obtain loans.
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Posted: July 24th, 2008, 11:42am CDT
Surprise will offer another ''Understanding Your Credit Score'' financial fitness class on Aug. 7. See this and other city news briefs.
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Posted: July 24th, 2008, 7:08am CDT
As big banks such as Wachovia , Citigroup and Bank of America continue to post multimillion-dollar writedowns to cover mortgage loan losses and other bad investments, credit-card holders are increasingly getting squeezed. Card issuers such as American Express have started taking a closer look at the math that determines how much credit is available to each customer, and some are cutting their ...
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Posted: July 16th, 2008, 7:48am CDT
July 16 (Bloomberg) -- The global bear market in equities will deepen from New York to London to Tokyo in the next six months as credit losses prolong the economy's slump and inflation erodes profits, a survey of Bloomberg users showed.
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Posted: July 16th, 2008, 7:36am CDT
New research has indicated that the credit crunch is likely to have more bad effects on small businesses before the problems ease.
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Posted: July 16th, 2008, 5:50am CDT
Good credit can improve your financial health in a lot more ways than most people realize. You're one of the lucky ones in the financial pecking order: Your credit score is high. Really high. But what if you want perfection?
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Posted: July 16th, 2008, 5:18am CDT
If it could happen to the state treasurer ... "I was on a two-week vacation, and when I got back my credit-card bill was already overdue," Richard Cordray said. He tried to get the charge canceled but wound up paying a minimal charge.
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Posted: July 16th, 2008, 1:29am CDT
Bad Credit Score? Here's How to Fix It Building or rebuilding a credit score seems like an impossible task. Young people starting out think they'll never qualify for the best interest rates. Homeowners who may be facing foreclosure think their scores will never recover.
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Posted: July 15th, 2008, 5:32pm CDT
Inflation is not necessarily a bad word. So it seems for the micro-credit industry if its growth trajectory and first quarter credit offtake are benchmarks
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Posted: July 15th, 2008, 3:58pm CDT
Times are good to cash in on the misery of others. As Americans acquire bigger and bigger mortgages and credit card bills, more and more of their debt is going bad.
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Posted: July 15th, 2008, 8:22am CDT
U.S. Bancorp said on Tuesday mounting credit losses led to a larger-than-expected 18 percent decline in quarterly profit, and that tough economic conditions will cause bad loans to increase further.
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Posted: July 15th, 2008, 8:03am CDT
July 15 (Bloomberg) -- U.S. Bancorp , the sixth-largest U.S. bank, said second-quarter earnings slumped 18 percent on rising bad loans. The shares fell 9 percent in early New York trading.
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Posted: July 13th, 2008, 12:05pm CDT
THE WAY THE BANKING IS wired at the moment, there seems to be no real and lasting happy ending to a bad credit history.
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Posted: June 30th, 2008, 12:07pm CDT
BBC political correspondent Iain Watson speaks to Labour's big donors and reports on the party's financial prospects.
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Posted: June 30th, 2008, 9:32am CDT
RISING numbers of Scots are seeking help for depression and anxiety brought on by the global credit crunch, experts claim. Fears over the housing market, growing fuel prices and consumer debt have increased substantially in the last year, sparked by the crisis in the global economy.
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Posted: June 30th, 2008, 9:13am CDT
Credit rating agency Standard & Poor's has issued a new report on Irish banks in the light of the 'rapidly weakening' Irish economy and depressed Irish and UK property markets.
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Posted: June 30th, 2008, 8:34am CDT
Your credit record tells prospective employers a lot about your financial history - and it could make or break the job interview. Sarah-Jane Bosch explains...
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Posted: June 30th, 2008, 7:57am CDT
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit?
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Posted: June 30th, 2008, 6:03am CDT
NEW YORK -- Just as Americans grow more reliant on credit cards to help pay monthly bills, they're being hit with a one-two punch: Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores.
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Posted: June 30th, 2008, 5:19am CDT
(ARA) - Getting tired of sinking money into that old jalopy in the driveway? If your car is on its last legs, it's time to start shopping around for a replacement vehicle, and now is a great time to look! There are some great deals out there on both new and late model used vehicles.
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Posted: June 30th, 2008, 5:00am CDT
Beyond mortgage and credit card interest rates, there are many other insidious ways low scores can zap you.
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Posted: June 30th, 2008, 4:20am CDT
(ARA) - The average American's credit score is 723. Having a high credit rating can give you better interest rates on credit cards, car loans and even your mortgage. It's important to know the top factors that affect your score and check your credit report for accuracy.
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Posted: June 30th, 2008, 2:29am CDT
Just as Americans grow more reliant on credit cards to help pay monthly bills, they're being hit with a one-two punch: Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores.
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Posted: June 30th, 2008, 1:07am CDT
(ARA) - Getting tired of sinking money into that old jalopy in the driveway? If your car is on its last legs, it's time to start shopping around for a replacement vehicle, and now is a great time to look! There are some great deals out there on both new and late model used vehicles.
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Posted: June 30th, 2008, 12:32am CDT
The global credit crunch and consequent share market volatility caused a sharp decline in public listings in the 2007-08 financial year, a survey shows.
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Posted: June 30th, 2008, 12:00am CDT
Many of us don't think about our credit score until it's time to make a major purchase or open a charge account. But that three-digit number affects a lot more than your credit. It can have a bearing on your auto insurance rates.
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Posted: June 29th, 2008, 9:32pm CDT
DENVER, Colorado - The investigation into Colorado's Conservation Easement Tax Credit program widened on Friday, when the Internal Revenue Service agreed to review documents the state has obtained in its own inquiry.
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Posted: June 29th, 2008, 6:42pm CDT
(ARA) - Getting tired of sinking money into that old jalopy in the driveway? If your car is on its last legs, it's time to start shopping around for a replacement vehicle, and now is a great time to look! There are some great deals out there on both new and late model used vehicles.
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Posted: June 29th, 2008, 6:29pm CDT
RISING numbers of Scots are seeking help for depression and anxiety brought on by the global credit crunch, experts have said.
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Posted: June 29th, 2008, 5:18pm CDT
What real small-business owners say about getting access to capital.
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Posted: June 29th, 2008, 4:41pm CDT
The credit crunch has led to a rush of people wanting to become plumbers, according to Europe's largest industry training centre. Building Trade Skills Centres (BTSC) said that the number of inquiries it is getting has jumped 30% in just two months.
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Posted: June 29th, 2008, 2:50pm CDT
Even for an industry awash in bad news, the U.S. newspaper business went through one of its most severe retrenchments in recent memory last week.
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Posted: June 29th, 2008, 2:36pm CDT
NEW YORK - Just as Americans grow more reliant on credit cards to help pay monthly bills, they're being hit with a one-two punch: Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores.
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Posted: June 29th, 2008, 8:03am CDT
MANILA, Philippines--The Bangko Sentral ng Pilipinas (the Philippine central bank) expects the commercial banking sector's stock of bad loans to end this year at the pre-Asian currency crisis level of 4 percent of its total loan portfolio.
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Posted: June 29th, 2008, 3:34am CDT
NEW YORK – Just as Americans grow more reliant on credit cards to help pay monthly bills, they’re being hit with a one-two punch: Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores.
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Posted: June 29th, 2008, 2:54am CDT
Subprime credit cards might be the worst consumer-credit product ever marketed. Their high interest rates, costly penalties and high, hidden fees can eat up nearly all of the credit available from the cards and, over time, turn a $100 purchase into more than $1,000 of debt.
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Posted: June 29th, 2008, 2:07am CDT
(ARA) - Getting tired of sinking money into that old jalopy in the driveway? If your car is on its last legs, it's time to start shopping around for a replacement vehicle, and now is a great time to look! There are some great deals out there on both new and late model used vehicles.
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Posted: June 29th, 2008, 1:45am CDT
Americans are getting advice on pocketbook issues from lots of people these days, including financial planners, credit counselors, consumer advocates and spokespersons for financial literacy groups.
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Posted: June 28th, 2008, 5:27pm CDT
HUME – The Shiloh Board of Education meeting Monday night was a mix of good news/bad news. District Superintendent Gary Lewis reported the district is on track to post a small deficit between revenue and expenses.
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Posted: June 28th, 2008, 10:35am CDT
A barrage of bad news including yet another record high for oil drove stocks sharply lower Thursday, dropping the Dow Jones industrial average nearly 360 points to its lowest level in nearly two years.
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Posted: June 28th, 2008, 8:42am CDT
Police in Huber Heights said a man went shopping with a stolen credit card, but he was captured on surveillance video.
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Posted: June 28th, 2008, 7:55am CDT
Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores.
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Posted: June 28th, 2008, 5:56am CDT
Just as Americans grow more reliant on credit cards to help pay monthly bills, they're being hit with a one-two punch: Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores.