News

2010

July

03

• When borrowers can pay but don't. With tougher mortgage underwriting rules a virtual certainty under Congress's financial reform legislation, lenders have begun confronting still another vexing issue: Can homebuyers who have high credit scores be trusted not to pull the plug

01

• Loan giants threaten energy-efficiency programs. The Obama administration is devoting $150 million in stimulus money for programs that help homeowners install solar panels and other energy improvements, which they pay for over time on their property tax bills. At the same

• Lower your credit card bill fast. We here at WalletPop have spent plenty of time telling you about the big changes you can make to pare down your credit card debt and live a more financially stable life. While that's still

• Financial reform bill passes U.S. House. The House on Wednesday approved the most sweeping rewrite of financial rules since the Great Depression, and last-minute changes this week appeared to solidify support in the Senate and pave the way for the legislation

June

29

• What Wall Street reform means for your mortgage. Predatory lending would likely become a thing of the past if proposed regulatory reform rules are put into practice. And that may mean that mortgages get more expensive and more difficult to get, lenders warn.

27

• Caring for seniors' financial health. When we talk about the aging population in the United States, the conversation is often focused on who will take care of the physical needs of millions of seniors. But there's a growing threat we

26

• Wave of new rules to protect consumers. The financial overhaul bill that has taken final shape would give the government a larger role in guarding the wallets of consumers — many of whom, it became clear in the financial crisis, did not always

• Overhaul adds consumer help. The massive financial overhaul approved by key lawmakers early Friday was hailed by many reform advocates as offering landmark protections for consumers, even as others expressed disappointment at key omissions and wondered whether big business

• Foreclosure alternative gaining favor. Short sales have been the hot solution for financially stressed homeowners and their lenders for the past year, but here's another potent foreclosure alternative that's about to take center stage: deeds in lieu. Some of

25

• Financial Reform spells a win for consumers. The U.S. House and Senate conference committee passed a final bill today that includes a bureau devoted exclusively to consumer financial protection. “Consumer Action has long supported a consumer financial watchdog that has both

24

• Big job looms for new consumer protection agency. When he took charge of the new Environmental Protection Agency in December 1970, William Ruckelshaus wasted no time flexing his muscle and clobbering polluters. Nine days after the EPA opened its doors, the Republican official ordered

• Fannie Mae gets tough on homeowners who walk away. Taking aim at homeowners who are able to pay their mortgage but decide it's not worth it, Fannie Mae plans to go after them in court and to limit their access to home loans for

22

• More dropouts in mortgage relief program. The Obama administration's marquee foreclosure-prevention initiative continues to struggle, as government data released Monday show that fewer homeowners are enrolling in the program and more are losing their federal mortgage aid. Lenders enrolled homeowners into

• Thorny issues remain in financial overhaul. One evening late last week, as House and Senate negotiators wound down another marathon session hammering out details of a massive financial regulatory overhaul, Sen. Christopher J. Dodd (D-Conn.) uttered what almost everyone else in

20

• Cost of Fannie/Freddie keeps soaring for taxpayers. CASA GRANDE, Ariz. — Fannie Mae and Freddie Mac took over a foreclosed home roughly every 90 seconds during the first three months of the year. They owned 163,828 houses at the end of March, a virtual city

19

• Credit unions beckoning with open arms. Everyone can join a credit union, but not everyone can join any credit union. This turns out to be a source of much confusion for consumers looking for a better checking account, a more generous

• Reverse mortgage holders could lose homes if taxes aren't paid. Here's a sobering message for anyone who has a federally insured reverse mortgage or plans to apply for one: If you don't pay your local property taxes or hazard-insurance premiums, the risk of losing your

17

• Consumer Action Anniversary and Awards. To mark its 39th year of education and advocacy, Consumer Action celebrates today with a party and awards ceremony in San Francisco.

14

• Key issues as Congress finalizes financial reform. From big banks' exotic trades to the credit cards in people's wallets, it only takes a few of the most contentious issues to upend a careful political equilibrium as lawmakers try to blend House and

• Financial-reform fight draws quirky crowd of lobbyists. Wall Street banks and financial services companies are hardly the only ones fretting provisions of the financial-reform legislation now awaiting House and Senate negotiators. Indian tribes, the Envelope Manufacturers Association and hip-hop impresario Russell Simmons