Monthly Archives: January 2014

Oh, Sweet Mercy, Are We About To Have Another Debt Ceiling Fight?

Posted by & filed under Debt.

One of the things Ive been attempting to track the past few weeks is whether or not America is headed for another stupid, protracted fight over the debt ceiling. Technically, we will hit the debt ceiling deadline on Feb. 7, but you know the drill — the Treasury can take a certain number of extraordinary […]

First Thoughts: Debt-ceiling debate – here we go again?

Posted by & filed under Debt.

*** Debt-ceiling debate: Here we go again? Or maybe not? The Obama White House and Congress could very well be on their way to another collision course over the debt ceiling. On Wednesday, Treasury Secretary Jack Lew wrote a letter to House Speaker John Boehner and the other congressional leaders that the debt limit needs […]

Here’s The Week-Old China Story That Has Some People Freaked Out

Posted by & filed under Credit.

The emerging markets are getting slammed, and it appears to be rattling the entire global financial markets. Initially, folks were comfortable blaming it on Wednesdays China flash purchasing managers index report, which unexpectedly signaled that the countrys manufacturing sector unexpectedly contracted in January. It was around the time of that release that US futures turned […]

UBS Says Market Wants Default as Risks to Pile Up: China Credit

Posted by & filed under Credit.

UBS AG’s China securities unit, the leading foreign underwriter of debt sales in the country, says the market wants policy makers to allow the first onshore bond default to reduce long-term hazards to the financial system. “Systematic risk will pile up without any default happening,” Bi Xuewen, head of China debt capital markets at UBS […]

El Paso ordinance on payday lenders to take effect Jan. 16

Posted by & filed under Payday Loans.

Opponents of the practice applauded the action, saying the practice they call predatory lending exploits the poor with high-interest loans that keep them in a cycle of debt. Supporters, most of them credit access businesses, said payday and car-title lenders provide money to people in emergency situations who otherwise might not qualify for traditional loans. […]

Discover Financial Beats on Q4 Earnings

Posted by & filed under Personal Loans.

Discover Financial Services (DFS – Analyst Report) reported fourth-quarter 2013 earnings per share (EPS) of $1.23, which exceeded the Zacks Consensus Estimate of $1.17 per share. EPS also improved 16% from the year-ago quarters number of $1.06. The improvement in Discover Financials EPS is largely attributable to growth in loans and share repurchases during the […]

Exclusive: FBI warns retailers to expect more credit card breaches

Posted by & filed under Credit.

WASHINGTON (Reuters) – The FBI has warned US retailers to prepare for more cyber attacks after discovering about 20 hacking cases in the past year that involved the same kind of malicious software used against Target Corp in the holiday shopping season. The US Federal Bureau of Investigation distributed a confidential, three-page report to retail […]

ObamaCare death debt? States can seize assets to recoup Medicaid costs

Posted by & filed under Debt.

He wanted no part of the governments so-called free health care. Its supposed to be a safety net program. Its not supposed to be for someone who has assets who can pay the bill, he said. And after reading the fine print, Gialanella had another reason to flee Medicaid — the potential death debt. Though […]

In Texas, Toll Collection Outsourced To Payday Lender

Posted by & filed under Payday Loans.

WASHINGTON — If you want to set up an account to use the new toll road in El Paso, Texas, you may have to first stop by a payday lender. The El Paso Times reports that the Camino Real Regional Mobility Authority will be working with the payday lender ACE Cash Express to help collect […]