Consumer Financial Protection Bureau to Regulate Payday Loan Lenders

(Source: White House) - Nearly 20 million Americans use payday loans, which offer short-term funds at very high interest rates. Studies have found that the average interest charged on a two-week, $100 loan is about $16—a 400 percent interest rate.

Many people who rely on payday loans are often in desperate need of cash, making them more likely to agree to astronomical interest rates and hefty fees for late payments. But, more often than not, payday loan terms are not clearly explained upfront, if at all. Payday loans end up putting more strain on those who are already struggling financially, including people who have already depleted their resources due to extended unemployment, illness, or emergency, as well as members of the military and their families, who are often targeted by short-term lenders.

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Resources for YOU:

• Bad Credit Loan
• Personal Loans For Bad Credit
• Instant Approval Credit Cards

New Year Tips on Getting a Bad Credit Credit Card

Applying for a new credit card can be a challenge if you have bad credit.  Do you plan to get a new credit card this New Year?  If yes, the following tips will be helpful:

Check your credit score.  Order the latest copy of your credit report in 2012.

Decide which credit card for bad credit is best.  If you have bad credit, you have several options to choose from.

Compare the costs.  Just as it is important to choose a credit card with a low interest rate, the same principle applies if you are searching for a bad credit credit card.

Read the fine print.  You might come across instant credit card offers this New Year and the deals can be tempting. 

Read more New Year Tips on Getting a Bad Credit Credit Card

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Establish Your Credit With a Bad Credit Credit Card

Resources for YOU:

• Bad Credit Loan
• Personal Loans For Bad Credit
• Instant Approval Credit Cards

FHA multifamily loan originations at record high

(Reuters) - The Federal Housing Administration has backed a record $10.5 billion in multifamily rental housing loans during its 2011 fiscal year, the agency said on Tuesday.

The rise in loans for multifamily units reflects an underlying trend in demand for rental property.

The FHA has endorsed nearly 1,100 multifamily loans this fiscal year, which runs until October 1, more than seven times the amount it backed three years ago. For the second time, loan activity exceeded $10 billion.

"FHA has never been more relevant in making sure the multifamily apartment marketplace continues to function even during these tough economic times," Carol Galante, FHA's acting commissioner, said in a statement.

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Resources for YOU:

• Credit Cards for Bad Credit
• Free Credit Repair
• Payday Loans

 

S&P upgrades Google stock days after "sell" view

Recommendations to unload Google Inc stock are extremely rare on Wall Street. But the latest "sell" rating for the Internet company was so fleeting it existed for just three trading days.

Standard & Poor's upgraded Google's stock on Monday, giving it a "hold" rating, reversing its much-debated downgrade the prior week.

S&P had slapped Google with a Sell rating -- the only such bearish call on the Internet giant's stock among almost 40 analysts tracked by Thomson Reuters I/B/E/S -- after a surprise August 15 announcement that it will buy Motorola Mobility Holdings Inc for $12.5 billion.

As with other investors and industry commentators, S&P voiced concern about Google's plans to enter the smartphone manufacturing business, which could weigh on its financials and create conflicts with the other handset vendors who also license Google's Android software.

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Resources for YOU:

• Credit Cards for Bad Credit
• Free Credit Repair
• Payday Loans

Which Credit Card for Bad Credit Will Work for You?

For people who have bad credit history or in need of credit improvement, there are different types of credit cards which can be used for credit repair.  On this post, we tackle three bad credit credit cards that are popular in the market today.  Get to know the difference of one from the other and decide which bad credit credit card is best for you.

Secured Credit Cards.  A secured credit card immediately requires the submission of cash deposit.
Unsecured Bad Credit Credit Cards.  Just like secured cards, approval for an unsecured bad credit credit card is not based on the applicant’s credit history or credit score

Prepaid credit cards.  Prepaid credit or debit cards can be used for payment like any regular credit card.

Which Bad Credit Card Is for You?

Read more Which Credit Card for Bad Credit Will Work for You?

Resources for YOU:

• Credit Cards for Bad Credit
• Free Credit Repair
• Payday Loans 

Analysis: Critics say new law makes them tax agents

(Reuters) - A U.S. law meant to snuff out billions of dollars in offshore tax evasion has drawn the criticism of the world's banks and business people, who dismiss it as imperialist and "the neutron bomb of the global financial system."

The unusually broad regulation, known as FATCA, or the Foreign Account Tax Compliance Act, makes the world's financial institutions something of an extension of the tax-collecting Internal Revenue Service -- something no other country does for its tax regime.

Conceived as a way to enlist the world in a crackdown on wealthy Americans evading tax, it gives global financial institutions and investment entities a choice: either collect and turn over data on U.S. clients with accounts of at least $50,000, or withhold 30 percent of the interest, dividend and investment payments due those clients and send the money to the IRS.

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Resources for YOU:

• Credit Cards for Bad Credit
• Pre-paid Credit Cards
• Instant Approval Credit Cards

What Are Specialized Credit Cards?

Leading issuers of credit cards typically require good credit or excellent credit from interest applicants.  If you have a poor credit score, your application may get automatically declined.  Nevertheless, you will also come across credit cards that are especially designed for people with bad credit. These credit cards can be referred to as specialized credit cards or bad credit credit cards.

TYPES OF BAD CREDIT CREDIT CARDS

There are different types of credit cards for bad credit.  If you cannot qualify for a regular card because of bad credit history or low credit rating, you have a number of options to choose from.  Consider the following types of specialized credit cards for bad credit:

Secured Credit Card.
Unsecured Bad Credit Card.
Prepaid Debit Card.

Read more What Are Specialized Credit Cards?

Resources for YOU:

• Credit Cards for Bad Credit
• Pre-paid Credit Cards
• Instant Approval Credit Cards