Supreme Court Hears Case of U.S. Violation of Credit Reporting Law

In what could be a landmark case against the U.S. government, the U.S. Supreme Court heard arguments Oct. 2 concerning whether the federal government could be held financially liable for actions not in accordance with the Fair Credit Reporting Act. … [Read more...]

Family Dollar Stores Report Increased Quarterly Profits

Family Dollar Stores Incorporated released their fourth-quarter earnings statement. In that earnings statement they show a 1.4% increase in sales volume. The volume of sales was primarily in their consumables inventory. This increase in sales by 16% helped to offset sluggish sales … [Read more...]

Auto Sales for Chrysler on the Rise

Chrysler Group LLC celebrated a great sales month. For sales of Chrysler products in the month of September a 12% increase in vehicle sales was realized. This sales volume for the month of September was the largest increase in sales for Chrysler products in any year-to-year … [Read more...]

JPMorgan Sued for Bear Stearns Fraud

New York Attorney General Eric Schneiderman, in conjunction with the newly-formed Residential Mortgage-Backed Securities Working Group—created by President Obama to hold Wall Street agencies accountable for misconduct related to the nation’s financial crisis—has filed a civil lawsuit … [Read more...]

Quarterly Value of Gold Strengthens

The latest quarterly report shows that gold increase in value. This increase in value was gold’s strongest quarterly showing in over two years. Additionally, the level of value for gold is predicted to remain steady in the short term. … [Read more...]

Reports of Aporkalypse Largely Hogwash

They are everywhere you look. Reports of rising costs and shrinking salaries. Making ends meet becomes tougher for families each year. Education costs go up. Gas prices skyrocket. Can things get any worse? Well, next year many will have to make some difficult budget decisions … [Read more...]

Discover Ordered to Refund $200 Million to Customers for Selling Products with Deceit

Discover Card may have been voted No. 2 in overall customer satisfaction in the most recent J.D. Power credit card survey, but that didn’t exempt it from penalties enforced by the Consumer Financial Protection Bureau for deceiving customers when marketing card protection products. The … [Read more...]

Sealy Corporation (ZZ) and Temper-Pedic International Merger

In a $229 million deal, two mattress companies have merged. The two mattress companies are Sealy Corporation (ZZ) and Temper-Pedic International (TPX). The result of this business transaction combines the two largest mattress companies and reflected approval of the market as shares … [Read more...]

More Student Loans Default Between Years Two and Three

More college graduates are defaulting on their student loans, according to a report issued Sept. 28 by the U.S. Department of Education. In its first three-year report of federal student loan cohort default rates, the department found 13.4 percent of graduates defaulted—missed at … [Read more...]

Census Reports U.S. Poor Getting Poorer

The poor in the U.S. could use their own Robin Hood as U.S. Census data shows income inequality in on the rise in 20 states. The U.S. Census Bureau released its 2011 American Community Survey today, which includes demographic information on U.S. residents in 40 different topics. The … [Read more...]

Walgreens Reports Fourth-Quarter Loss

Walgreens issued their fourth quarter earnings statement which reflected a loss in profit by 59%. Walgreens is the biggest drugstore outlet in the United States and is headquartered in Deerfield, Illinois. In their earnings statement they indicated that this significant loss in … [Read more...]

Bank of America Settles With Investors for $2.43 Billion

Bank of America Corp. agreed today to a $2.43 billion settlement to end a class-action suit filed by its own shareholders. The suit stemmed from claims the company did not warn shareholders of overwhelming losses Merrill Lynch & Co. was suffering before they voted to purchase the firm … [Read more...]

Free IRS Webinar About the Affordable Care Act

Participate on September 9th in the free IRS webinar about the Affordable Care Act. This is geared towards tax professionals but anyone can listen in. What you will learn is the ins and outs of the recent health care legislation overall. Tax agents will earn one CPE credit for … [Read more...]

Wells Fargo Financial Closing and Cutting Jobs

Today Wells Fargo sent out a press release stating that they are closing 638 or their offices and cutting 3,800 jobs due to restructuring. Wells Fargo Financial offered various loans and mortgages to consumers with low credit scores. This is the division that Wells Fargo is … [Read more...]

Special Assistance Day for Gulf Oil Spill Victims

This is a follow up to my last post about the IRS "helping" oil spill victims. On Saturday July 17th the IRS Taxpayer Assistance Centers in several locations will be open to help victims of the BP oil spill. Locations open July 17th from 9am to 2pm: - 1110 Montlimar Drive, Mobile, … [Read more...]

The Telephone Number for BP Gulf Oil Spill Victims

Hot off the presses today the IRS is making an effort to help the BP Gulf oil spill victims, or not. The Internal Revenue Service has opened a special phone line for those who have been affected by the oil spill. The catch is the phone line is only for people that are unable to pay … [Read more...]

The Fed Imposes New Credit Card Regulations

Finally a win for the credit card consumer today as the Fed puts limits on credit card fee's. These rules are supposed to wrap up the Credit Card Accountability Responsibility and Disclosure Act. 1. The 39.00 dollar late fee charge has been moved down to 25.00 dollars max. 2. … [Read more...]

Homebuilders Lose Confidence and Economic Recovery Slows

The National Association of Home Builders stated that their reader base of builders sank to a new low of 14 since March of 2009. Anything below 50 signifies a negative sentiment about the housing market. The number of foreclosed and short sale homes are a driving factor in this … [Read more...]

Countrywide Sued for Discrimination Against Latinos and African Americans

Good job Countrywide as if you didn't contribute enough to the mortgage crisis now you add fuel to the fire. Lisa Madigan the Illinois Attorney General is suing Countrywide for discrimination against African Americans and Latinos. Madigan claims that Countrywide (who is now owned … [Read more...]