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biz.yahoo.com
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NEW YORK (AP) -- Shares of credit card issuer American Express Co. fell, along with the broader market, as disappointing data on inflation and housing stirred fresh concerns about the economy.
Shares fell $1.43, or 3.8 percent, to $36.56 in morning tradi..
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Washington policy makers and housing industry insiders hope a new tax credit for first-time home buyers will get the moribund housing market moving again.
But most analysts agree that the program is more of a band-aid than a cure-all for the battered rea..
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biz.yahoo.com
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NEW YORK (AP) -- JPMorgan Chase & Co.'s news that its credit losses of the past month and a half already exceed its second-quarter losses is sobering proof that an end to the credit crisis is still far off in the future.
"The market keeps surprising us,"..
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biz.yahoo.com
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WASHINGTON--(BUSINESS WIRE)--National Association of Federal Credit Unions (www.nafcu.org) President Fred Becker issued the following statement in response to an article that appeared in The Wall Street Journal yesterday, “Mortgage Market Trouble Reache..
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biz.yahoo.com
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NEW YORK (AP) -- Treasury bond prices advanced Tuesday, driven by continued concern about credit losses from major Wall Street banks and uncertainty about the value of risky mortgage-backed securities.
Investors sought the relative safety of government d..
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biz.yahoo.com
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WASHINGTON (AP) -- More banks are tightening lending standards on home mortgages and other consumer and business loans as a deepening credit crisis exerts a heavier toll on the economy.
The Federal Reserve said Monday the percentage of banks reporting ti..
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biz.yahoo.com
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NEW YORK--(BUSINESS WIRE)--With the U.S. economy teetering on the edge of recession, collateral performance across credit card ABS continues its decline, according to Fitch Ratings in the latest edition of 'Credit Card Movers & Shakers'.
Fitch expects de..
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biz.yahoo.com
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NEW YORK (Reuters) - Banks borrowed a record amount of funds from the Federal Reserve in the latest week as the year old credit crisis took a persistent toll, while the commercial paper market continued to contract, signaling tough conditions for short t..
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biz.yahoo.com
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WASHINGTON (AP) -- Focused on getting the nation's credit gears smoothly working again, the Federal Reserve is letting Wall Street firms draw emergency loans into next year and giving financial companies more options to help them overcome credit problems...
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biz.yahoo.com
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WEST CHESTER, Pa.--(BUSINESS WIRE)--U.S. household finances are deteriorating rapidly under the strain of increased debt and falling home prices, threatening the health of the U.S. economy, according to a new research from Moody’s Economy.com, a divisio..
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biz.yahoo.com
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NEW YORK (AP) -- American Express Co. said Monday its second-quarter profit tumbled 38 percent, well below Wall Street's forecast, as consumer spending slowed and credit indicators deteriorated beyond the lender's expectations.
For the period ended June..
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biz.yahoo.com
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NEW YORK (AP) -- Wall Street looked to open higher Monday after Bank of America Corp. posted results that beat expectations, raising hope the credit crisis might be easing for the nation's biggest retail banks.
The Charlotte, N.C.-based bank reported tha..
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biz.yahoo.com
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WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke is briefing Congress today on the economy, which has been walloped by high energy prices and fallout from the housing slump and credit crunch.
Meanwhile, an analyst is giving a bleak forecast for W..
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biz.yahoo.com
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Survey finds loans beyond reach
Nearly 70% of Americans, or every 2 in 3, who applied for a home mortgage found the process more difficult than before the U.S. housing crisis began, as lenders have made it tougher to get credit amid falling home prices,..
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biz.yahoo.com
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NEW YORK (Reuters) - Stocks were little changed in choppy trading on Wednesday as fears of further credit losses in the financial sector and rebounding oil prices offset Alcoa Inc's (NYSE:AA - News) stronger-than-expected quarterly profit.
Higher oil pr..
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biz.yahoo.com
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If you have a mortgage, carry credit cards and are considering a home equity loan to cope with soaring food and energy prices, you should be paying attention to what the Fed has to say.
On Wednesday, the Federal Reserve held a key short-term interest rat..
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biz.yahoo.com
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HOUSTON--(BUSINESS WIRE)--Money Management International (MMI), the nation’s largest nonprofit credit and debt counseling and education firm, announced today the results of a survey designed to measure consumer sentiment toward the current economic inst..
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biz.yahoo.com
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PHILADELPHIA--(BUSINESS WIRE)--The Wharton School of the University of Pennsylvania announced that its award winning business analysis journal, Knowledge@Wharton, has published “A Knowledge@Wharton Special Report: The Credit Crisis,” a deeply layered..
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biz.yahoo.com
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WASHINGTON (AP) -- Federal officials are seeking more than $200 million in fines and restitution from CompuCredit Corp. and two banks that allegedly engaged in deceptive credit card marketing practices.
The Federal Trade Commission and Federal Deposit In..
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biz.yahoo.com
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AUSTIN, Texas--(BUSINESS WIRE)--Annual percentage rates for select major credit card categories were flat to higher this week, following a speech by Federal Reserve Chairman Ben Bernanke that inspired speculation the central bank could eventually raise in..
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