Treasury Reorganization: Recession Response or Red Herring?
On March 31st, the Treasury Department announced a new plan to help the troubled financial sector weather the sub-prime mortgage storm. This new system replaces some agencies while redrawing the jurisdictions of existing authorities like the Securities and Exchange Commission and the Federal Reserve. In particular, the Fed’s role in averting future crises is greatly expanded, a decision that is in keeping with the recent sea ch (more…)
Are Credit Card Companies Ruining Your Credit Rating
Have you looked at your credit card available balance lately? Has your credit card company drastically reduced your available limit for no reason or refused to honor your bank check? You may want to look and hold onto your boots when you find out what they have done. As a result of the recession and the failed housing markets, credit card issuers are making drastic moves to protect themselves from default by credit card holde (more…)
Private Sector Banks Hikes Home And Car Loan Rates By 25-50 Bps
HDFC Bank, ICICI Bank and Kotak Mahindra have raised rates on home and auto loans, reflecting the stiffening market that may lead to the Reserve Bank of India (RBI) hastening with a lift in its policy rates from record lows to fight inflation.
The country’s largest private sector lender, ICICI Bank, says it is going to charge 25 to 50 basis points more for (more…)
The Federal Reserve Bank & What Credit Costs You
You may get bargains at the store checkout. You may get an award or “cash back” for using your credit card. You may get a store rebate. What you may not get is a low credit card interest rate because the Federal Reserve Bank keeps increasing your borrowing costs. The bench mark interest rate is known as the “prime rate When the Federal Reserve Bank raises the federal funds rate, your bank will ratchet their prime rate. You (more…)