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Entries Tagged as 'bailout'

Bank of America Announces New Mortgage Balance Reduction Program

March 25th, 2010 · 1 Comment · Mortgages

What the heck is a an “earned principal forgiveness”? Some Bank of America customers may soon be finding out. Bank of America Corp. (BAC.N) on Wednesday said it would offer about $3 billion in loan forgiveness to about 45,000 troubled mortgage holders who are under water more than 120 percent of the value of their [...]

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Obama Proposes New Fees for Bailout Banks

January 12th, 2010 · 1 Comment · Banking, Consumer Info

Ah, revenge is sweet. The Associated Press is reporting this morning the Obama administration is proposing to levy fees on bailed out banks to help lower the deficit. I know I’m not happy about the “seven to eight” figure executive bonuses projected to be given to bailed out bankers this quarter. (For those of you [...]

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Overdraft Fee Legislation Gaining Momentum

October 21st, 2009 · 8 Comments · Banking

Sen. Chris Dodd’s battle against banking overdraft fees continues. He introduced a bill on October 19, covering ATM and debit-card transactions as well as checks. Several other Senators are on board with the reform, as the bill is co-sponsored by Senator Charles Schumer D-NY, Sen. Jack Reed D-RI,who is chairman of the Senate Banking Subcommittee [...]

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700 Billion Bucks at Stake in “Bailout Billiards”

September 29th, 2008 · No Comments · Banking, Consumer Debt

Remember those tounge-twisters we loved as kids? Say this a few times quickly: “buku billion bucks buys bad bank books in bailout billiards”. Or perhaps a more appropriate gaming analogy is the Treasury Department going “all-in” in a $700 billion Texas Hold ‘Em poker bet. All kidding aside, either way, it’s a scary proposition for [...]

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