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Regulators warn lenders on home equity loans (Houston Chronicle)
After a rash of consumer complaints, the federal agency charged with regulating savings and loan institutions issued guidance Tuesday warning lenders they could not arbitrarily change the terms of home equity loans.
Net Non-performing Loans Ratio Dwindles To 2.7 Pct, Says Ahmad Husni (Bernama)
KUALA LUMPUR, Aug 27 (Bernama) — The net non-performing loans (NPLs) ratio has dwindled from 3.2 percent in December last year to 2.7 percent between January and June this year, the Dewan Rakyat was told Wednesday.
Investors punish Corinthian Colleges for making student loans (Los Angeles Times)
Shares fall 19% after the Santa Ana company reveals lending program for students with poor credit. Shares of Corinthian Colleges Inc. dropped after the operator of colleges and trade schools said it began making loans to students, raising concern that costs would erode earnings.
Private student loans tougher to find (USA Today)
Though some lenders are still offering private student loans, "The list is shrinking," says Kevin Walker, chief executive of SimpleTuition, a website that allows borrowers to compare loan rates. Last year, he says, SimpleTuition featured 77 lenders on its website; now, it has only 16.
These strategies will help you shop loans intelligently. (Bankrate.com)
Loans can help you get ahead. But if not used judiciously, they can also help you fall behind.
Japan exempts $680 million in loans to Bangladesh (Reuters via Yahoo! Philippines News)
DHAKA, Aug 27 (Reuters) - Japan has exempted Bangladesh from repaying nearly $680 million in loans it provided for development projects, a senior official said on Wednesday.
Thrifts told not to alter loans (The Columbus Dispatch)
WASHINGTON — After a rash of consumer complaints, the federal agency charged with regulating savings and loans warned lenders that they cannot arbitrarily change the terms of home-equity loans.
NET NON-PERFORMING LOANS RATIO DWINDLES TO 2.7 PCT, SAYS AHMAD HUSNI (Bernama via Yahoo! Malaysia News)
KUALA LUMPUR, Aug 27 (Bernama) — The net non-performing loans (NPLs) ratio has dwindled from 3.2 percent in December last year to 2.7 percent between January and June this year, the Dewan Rakyat was told today.
County loans to help two townships buy tornado-warning sirens (The Columbus Dispatch)
Every resident of Pleasant Township will soon be able to hear a siren wail when the weather turns unpleasant. The township is among the first to take advantage of three-year interest-free loans from Franklin County to close gaps in the tornado warning siren system.
J.P. Morgan and IFC to boost trade finance in Asia and the Pacific (Thaipr.net)
J.P. Morgan and IFC, a member of the World Bank Group, announced that they have jointly launched an innovative trade finance structure in Asia and the Pacific to help facilitate and boost trade activi
Funkhouser to resolve campaign finance problems by paying $1,000 (The Kansas City Star)
Kansas City Mayor Mark Funkhouser has agreed to pay $1,000 to settle campaign finance irregularities investigated by the Missouri Ethics Commission.
Wells Fargo’s home and consumer finance group chief to retire (Banking Business Review)
Wells Fargo & Company, a financial holding company, has announced that senior executive vice president and head of its home and consumer finance group, Mark Oman plans to retire by the end of 2009.
Suit threatened over campaign finance ruling (Boston Globe)
A prominent Burlington lawyer said Tuesday he is in talks with supporters of independent gubernatorial candidate Anthony Pollina about filing suit in federal court over Vermont’s campaign finance laws.
Wilshire Finance Partners Launches New Fund to Raise $100 Million for Commercial Property Loans (Centre Daily Times)
Wilshire Finance Partners has launched its second real estate mortgage pool fund to raise $100 million to make commercial property loans. The new fund, Wilshire Income Fund II, is the company’s first fund to target borrowers and investors nationwide.
Wells Fargo consumer finance group exec to retire (AP via Yahoo! Finance)
The Wells Fargo & Co. executive who heads the Home and Consumer Finance Group said Monday he plans to retire by the end of next year.
Electoral Finance breach by EMA (TVNZ)
The Employers and Manufacturers Association (EMA) has been referred to police over a possible breach of the Electoral Finance Act. The Electoral Commission’s ruled advertisements run by the organisation in July regarding changes to KiwiSaver were election advertisements.
Credit Suisse Buys Reamer’s Asset Management Finance (Update2) (Bloomberg.com)
Aug. 26 (Bloomberg) — Credit Suisse Group AG, Switzerland’s second-biggest bank, bought New York-based Asset Management Finance Corp. for $384 million to provide financing to investment firms.
After Audit, Finance Department Promises To Address Its Finances (The New York Sun)
The city’s Department of Finance is pledging to improve its oversight practices after an audit found it could not account for $14.1 million in court revenues. The audit, released by the state comptroller yesterday, indicated that an antiquated accounting system had resulted in serious discrepancies on the department’s books. A bank account for court funds is short $10.8 million, while another …
EMA falls foul of Electoral Finance Act (The New Zealand Herald)
The Electoral Commission says it is going to report the Employers and Manufacturers Association (EMA) to the police for breaching a section of the Electoral Finance Act.
PTT Aromatics Gets THB2 Billion Of 10 Year Loans For Expansion (Nasdaq)
BANGKOK -(Dow Jones)- Thailand’s PTT Aromatics & Refining PCL (PTTAR.TH) said it has obtained THB2 billion ($59 million) of 10 year loans for business expansion.
Gov’t to give loans to 20 rural utilities, co-ops (AP via Yahoo! Finance)
The Department of Agriculture said Monday it will give $677 million in loans to 20 rural utilities and cooperatives to finance new electric lines and other system improvements in 19 states.
Arcil acquires Rs 1,200 cr of retail consumer loans (Express India)
Arms, a pioneering initiative of Asset Reconstruction Company of India Ltd, has recently acquires over Rs 1,200 crore worth of distressed consumer loans including housing and auto portfolio.
SBA loans available to Conshohocken fire victims; meeting tonight (The Philadelphia Inquirer)
The U.S. Small Business Administration will conduct a town hall meeting at 7 p.m. today at the Montgomery County Public Safety Training Campus, 1175 Conshohocken Rd., Conshohocken, to brief residents and businesses affected by the Aug. 13 Riverwalk at Millennium fire on low-interest disaster loans available to them from the SBA.
`Liar loans’ threaten to extend mortgage woes (Houston Chronicle)
In the mortgage industry, they are called "liar loans" mortgages approved without requiring proof of the borrower’s income or assets.
Personal Finance Daily: The week’s 10 best Personal Finance stories: Aug. 18-22 (Market Watch)
In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of Aug. 18-22:
India Infrastructure Finance sanctions Rs.173.6 bn loans (Calcutta News)
India Infrastructure Finance Co Ltd (IIFCL), the wholly-owned special purpose vehicle of the government, has sanctioned loans worth Rs.173.6 billion ($4.04 billion) to 81 infrastructure projects in the last two years, a top official said here Saturday.
Finance (Sun-Sentinel)
Fannie Mae and Freddie Mac, the two largest mortgage finance companies, "don’t have any net worth," billionaire investor Warren Buffett said. "The game is over" as independent companies said Buffett, the 77-year-old chairman of Berkshire Hathaway Inc., in an interview on CNBC Friday. Berkshire had been among the largest holders of Freddie until about 2001, when it became apparent the company …
Bolton Finance Board rejects big renovation plans (Journal Inquirer)
BOLTON The Finance Board has rejected nearly $50 million in town improvements, including renovations to Town Hall and a $38.8 million high school expansion.
Groups set to put Electoral Finance Act to test (Stuff)
Lobby group the Sensible Sentencing Trust is planning to defy the Electoral Finance Act in the lead-up to the general election.
RBS announces senior appointments in corporate finance (Banking Business Review)
The Royal Bank of Scotland Group has announced that Richard Griffiths, Ivan Li and Tammy Wan have joined ABN Amros mergers and acquisitions team as corporate executive directors and Michael Niederberger has joined the corporate finance group as corporate director.
Canada’s Budget Surplus Narrows; Finance Cuts Growth Forecast (Bloomberg.com)
Aug. 22 (Bloomberg) — Canada’s budget surplus narrowed in June from a year earlier as spending rose faster than revenue and the Finance Department cut its projection for economic growth this year.
Austin campaign finance rules may get some teeth (Austin American-Statesman)
Austin’s campaign finance rules could become as tough as they have long seemed if a City Council proposal to be considered next week is approved.
Vodafone India tries to find finance for iPhone buyers (Calcutta News)
In India, Vodafone, one of the two license holders for the latest Apple iPhone is looking at easy finance schemes to help sell the product in the country.
Campaign finance report deadline extended (TCPalm.com)
Because of Tropical Storm Fay, Florida Secretary of State Kurt Browning extended the campaign finance report filing deadline from Friday to today.
Automakers want more loans for retooling (Seattle Times)
U.S. automakers plan to urge Congress to support funding up to $50 billion in low-interest loans over three years to help them modernize their assembly plants and develop next-generation fuel-efficient vehicles.
"Liar loans" may prolong mortgage crisis (Seattle Times)
Losses on loans given to borrowers who lied about their income and assets could total $100 billion, threatening to add another two years to the nation’s mortgage crisis.
India Infrastructure Finance sanctions Rs.173.6 bn loans (Calcutta News)
India Infrastructure Finance Co Ltd (IIFCL), the wholly-owned special purpose vehicle of the government, has sanctioned loans worth Rs.173.6 billion ($4.04 billion) to 81 infrastructure projects in the last two years, a top official said here Saturday.
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Sask. gov’t on investment mission to Ireland (Regina Leader-Post)
Enterprise and Innovation Minister Lyle Stewart is on his way to Ireland, Norway and Denmark as part of a week-long investment attraction mission.
Mexico direct foreign investment drops 20 percent (AP via Yahoo! Finance)
Direct foreign investment in Mexico has fallen and officials blame it partly on the U.S. economic downturn. Mexico’s Economy Department says direct foreign investment fell to $10.5 billion in the first six months of this year.
Son La seeks investment for 56 projects (Vietnam Net)
VietNamNet Bridge The northern mountainous province of Son La has listed 56 projects to call for investment from both domestic and foreign investors until 2020.
Lehman Rises After Korea Bank Comment on Investment (Update2) (Bloomberg.com)
Aug. 22 (Bloomberg) — Lehman Brothers Holdings Inc. , the fourth-largest U.S. securities firm, rose the most in two weeks in New York trading after Korea Development Bank said it’s “considering” an investment in the company.
Dollar Rises Versus Euro, Yen on Lehman Investment Possibility (Bloomberg.com)
Aug. 22 (Bloomberg) — The dollar rose against the euro and the yen as a South Korean bank said it’s “considering” an investment in Lehman Brothers Holdings Inc., indicating U.S. financial firms may weather credit market turmoil.
Iowa man accused of fraudulent investment program (AP via Yahoo! Finance)
A Cedar Rapids attorney accused of scheming to promote a fraudulent high-yield investment program in California has been indicted on federal fraud and conspiracy charges.
KDB, Weighing Lehman Investment, Sees `Opportunity’ (Update1) (Bloomberg.com)
Aug. 23 (Bloomberg) — Korea Development Bank , which said it’s considering a possible investment in Lehman Brothers Holdings Inc., views the global credit market turmoil that’s ravaging banks as a chance to expand abroad.
Mexico direct foreign investment drops 20 per cent (The Canadian Press via Yahoo! Canada News)
MEXICO CITY - Direct foreign investment in Mexico has fallen and officials blame it partly on the U.S. economic downturn.
Noble Trust investment firm scrutinized (The Nashua Telegraph)
The state Banking Department is still looking into the failure of Noble Trust, a Manchester-based investment firm seized in February for allegedly hiding $15 million in losses, as officials tally claims for damages. … - By DAVID BROOKS Telegraph Staff
Gazprom Falls as Analysts `Shocked’ by Investment Plan (Bloomberg.com)
Aug. 22 (Bloomberg) — OAO Gazprom , the world’s biggest natural-gas producer, dropped in Moscow after analysts said they were “shocked” by the company’s plans to raise its investment budget to more than $40 billion this year.
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