The Federal Reserve is proposing new rules on fees for prepaid gift cards and this is a welcome change as the holiday buying season nears. Many people shy away from prepaid gift cards because there can be fees and expiration dates involved. However, the new rules meant to reign-in fees on prepaid gift cards...
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Politics
Federal Reserve New Rules On Fees For Prepaid Gift Cards
First-time Homebuyer Tax Credit Boosts Real Estate Market But Foreclosures and Defaults Still A Problem
The first-time homebuyer tax credit has improved the real estate market when defaults on homes and foreclosures were becoming a common occurrence. However, the reports of foreclosures and defaults are still considered a big problem. So, is the first-time homebuyer tax credit really working or are the foreclosures and defaults on mortgages really a...
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Republican National Committee Removes Abortion Provision From Health Insurance Policy
The Republican National Committee has thrown out a provision in their health insurance policy that covered elective abortions. This comes in the wake of the health care debate in congress with the Republicans asking for provisions that would not allow any abortions to be supported under a national healthcare bill. The removal of this...
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Obama White House Summit About Jobs Scheduled For December; Jobless Claims Drop Again
President Obama said he would be holding a White House summit in December regarding the slow recovery of the job market our nation is facing. Obama said that the rise in new jobs and the ability of people seeking jobs to find them is not up to speed with the economic recovery. Many feel...
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Proposal to Extend Homebuyer Tax Credit Offers $6,500 to Repeat Homebuyers
The homebuyer tax credit is said to be guaranteed to pass and in this new round the tax credit is supposed to contain a $6,500 tax credit for repeat homebuyers who have owned their home for more than five years. The first round of the first-time homebuyer tax credit seemed to help the housing...
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New Regulations for Firms “Too Big To Fail,” Too Much Government Involvement or Not Enough?
New regulations are in the works from legislation for the financial institutions that are said to be “too big to fail” but some wonder if this action by government undermines the capitalist ideals and practices of our nation or if more needs to be done. The big companies that were given bailouts are the...
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TARP Bailout Possibly Extended To Small Businesses and Community Banks
An extension for the TARP bailout program could come to small businesses and community banks. Small businesses and community banks have less money and assets so the credit and housing problems are dealing a harder hit on them. Consumers defaulting on commercial real estate, construction, and mortgage loans are more of a powerful blow...
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Bailout Program Possible Extension Could Cause More Problems Than Solutions
The bailout program could be extended until next year but many feel that would create more problems than it would solve. The federal bailout program known as TARP (Troubled Asset Relief Program) has helped many institutions but those who have closely watched the program say there is too little specifications in accountability of bailout...
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New Job Openings and Obama Job Stimulus Keep Moving Forward To Combat Unemployment
The Obama stimulus plan has created new jobs and saved numerous others but with the unemployment rate still at 9.8% more obviously needs to be done to help struggling Americans. Many argue that the job market is the slowest to recover after a recession, but the rate at which the job market is recovering...
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Loan Modification Program: Success Depends on Rate of Redefault on Mortgages
The loan modification program and the number of homeowners redefaulting are the contrasts as to the success of the program. Many homeowners who have been hit by the recession have benefited from the loan modification program, which is lowering their mortgage payments to 31% of their monthly income, and this program has helped half-a-million...
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