Search Results for: credit Suisse

Moody’s strips the UK of its AAA rating

Moody’s Investors Service has today downgraded the domestic- and foreign-currency government bond ratings of the United Kingdom by one notch to Aa1 from Aaa. The outlook on the ratings is now stable. The key interrelated drivers of today’s action are: 1. The continuing weakness in the UK’s medium-term growth outlook, …

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Facebook friends could change your credit score

Facebook

Choose your Facebook friends wisely; they could help you get approved or rejected for a loan. A handful of tech startups are using social data to determine the risk of lending to people who have a difficult time accessing credit. Traditional lenders rely heavily on credit scores like FICO, which …

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FBI claims credit for stopping a terror attack it planned

FBI Capitol

Nearly every major post-9/11 terrorism-related prosecution has involved a sting operation, at the center of which is a government informant. In these cases, the informants — who work for money or are seeking leniency on criminal charges of their own — have crossed the line from merely observing potential criminal behavior …

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Business Owners: The Pros and Cons of Line of Credit VS Business Loans

line-of-credit

Business owners are bound to find themselves in a cash crunch occasionally even if they are dogged disciples of financial prudency. An accident might foist an emergency need to purchase equipment or inventory on you. You might have accounts receivable that didn’t materialize in good time, you might find an …

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5 Ways to Refinance Your Home When Your Credit Is Shot

You might be only a couple of years away from paying your mortgage loan off completely or have many decades before you will own your property free and clear. Obviously, you had to have had a decent credit rating in order to qualify for the purchase of a home, but …

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US government sues Standard & Poor’s after AAA downgrade

Standard Poor's

The US government is blaming the financial crisis that catapulted the US into recession in 2007 on debt raters Standard & Poor’s. But by singling out S&P, the DoJ raises suspicions that it might be retaliating for a downgraded US credit rating. In a Monday evening filing in federal court, …

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Credit Card Tips You Might Have Overlooked

When it comes to credit cards, most everyone knows the basics. Keep your balance well within your limits, use your card in conjunction with your budget, plan for the big stuff—they’re all common sense credit card rules that come as second nature to most anyone with a credit history. There …

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Italy to ban cash transactions over €50 in 2013

Italian flag

You won’t even be able to fill up your car without a credit or debit card in Italy beginning in 2013, as the Italian Council of Ministers has voted to increase the current capital controls banning the use of cash on transactions over €1,000, down to any transaction over €50! As …

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Top 50 safest global banks

Bank safe

For banking safely, global citizens had better go to the local government. And pretty much avoid the U.S. At least that seems to be the take away from Global Finance Magazine’s ranking of  the world’s safest banks.  The top 9 banks in the magazine’s World’s 50 Safest Banks list are …

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More Americans opting out of banking system

JP Morgan Chase bank

In the aftermath of one of the worst recessions in history, more Americans have limited or no interaction with banks, instead relying on check cashers and payday lenders to manage their finances, according to a new federal report. Not only are these Americans more vulnerable to high fees and interest …

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Australian banks at risk

big four banks Australia

Despite yesterday’s blowout $6 billion or so profit from ANZ, it turns out all is not entirely well in Australia’s financial services industry. For the last five years, the pattern in the markets has been the same. A crisis starts at the margin, with a peripheral player, and then moves …

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UK Authorities Guard Against Rising Credit Card Debt

A shocking statistic has filtered through markets in the United Kingdom: the country is faced with £68 billion in outstanding credit card debt. Credit card debt has risen sharply since 2007 when it was around £55 billion. The steepest rise took place between 2014 and the present day. Of course, …

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8 Ways Credit Card Benefits Will Save You Money

A woeful number of humans take a blithe step into the credit card swimming pool and emerge with hideous personal finance injuries, perhaps even mortally wounded by their own ignorance and a cabal of companies who play for keeps. But a credit card doesn’t have to be that way. Used …

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Walmart set to close 269 stores as economic collapse begins

Walmart store

Wal-Mart is doing some rare pruning. The world’s largest retailer is closing 269 stores, including 154 in the U.S. that includes all of its locations under its smallest-format concept store called Wal-Mart Express. The other big chunk is in its challenging Brazilian market. The stores being shuttered account for a …

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How People Can Use Ethical Law Firms to Repair Their Credit

Credit rating repair excellent

Debt is a standard part of American life. From mortgages to student loans, Americans are often placed in positions where they spend more than they make. While many do make their payments on time, a significant number of Americans must deal with debt collectors on a daily basis. In fact, …

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US debt collectors cash in on $1 trillion in student loans

Student debt

Most US college students hope to land a good job with a high salary after graduation. But for some the reality is very different. Many find themselves faced with insurmountable debt – and a loan industry that’s happy to cash in on their misfortune. As the number of people taking …

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The Global Demise of Pension Plans

Elderly People

We have been saying for a long time that anyone in the western world who’s 10-15 years away from collecting their first pension payments, shouldn’t expect to get much, if anything, when the time comes. This is because, obviously, the economy has deteriorated as much as it has. It’s also …

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Top pitfalls to avoid in the mortgage process

With the escalating prices of homes in the US, mortgage loans have become a popular financing option for those who dream of owning a home. Considering that buying a home is perhaps the biggest purchase you’ll ever make, it’s no surprise that there are multiple ways you can find yourself …

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Property Creditors Can Repossess

Repossession happens when you defaulted on a loan and the creditor takes a property of yours as a means of settling your debt. The car is the most common item you see getting repossessed, and not only is it embarrassing but it’s also quite stressful as you don’t know what …

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Anonymous launches Operation Black October, targets banking system

Anonymous Operation Black October Bank

US branches of Germany’s Deutsche Bank and Spain’s Banco Santander have failed US Fed stress tests, while America’s largest bank, Bank of America, is put on ‘warning’. How far can the ordinary people shoulder responsibility of a failed private bank? Anonymous asks you to join the peaceful revolution from October 1 …

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