Puerto Rico’s Downgrade Shows Debt Law Can’t Contain Rot

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A law allowing some Puerto Rico government entities to restructure debt outside bankruptcy failed to contain a crisis as its credit rating was cut three levels, imperiling the US commonwealth’s ability to finance itself. The island’s electric authority, which could shed some of its $8.6 billion in debt by making creditors accept losses, said yesterday […]

Police Seek Info in Credit Card, Purse Theft Case

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The Concord Police Department is asking the public for their assistance in solving the possible theft of a purse and fraudulent use of credit cards.  The victim stated that she had gone shopping with her husband at Walmart at approximately noon on June 1, 2014.   When she returned home she realized that her wallet was missing […]

A Guide to Your Credit History

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A large number of Americans know little about credit scores, according to a survey last year by the Consumer Federation of America and VantageScore Solutions. While obsessing over your credit score isn’t healthy nor recommended, understanding how credit scores work can help you figure out how to improve your credit health, score the best rates […]

Duncan on Ratings and Debt

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ASPEN, Colo. — Like many of his predecessors, Education Secretary Arne Duncan is known mostly as a K-12 person; thats his background and clearly his passion, and much of the departments work is in what happens to students before they get to college. And not surprisingly, as a result, his public speeches and statements tend […]

California lawmakers weigh tax credit for bomber program

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A bitter fight has broken out between aerospace industry behemoths over fast-tracked legislation that could provide one company with an upper hand in an upcoming $55-billion competition to build a fleet of next-generation stealth bombers. On one side is Northrop Grumman Corp., which built 21 bat-winged B-2 bombers in Palmdale two decades ago. On the […]

Pioneer, Capital credit unions launch merger

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ASHWAUBENON – Tom Young revealed the new sign for his credit union with some wistfulness. Yesterday was kind of bittersweet as I watched the Pioneer sign go on down the road, Young said before joining Alan Zierler to unveil the sign at Capital Credit Unions new corporate headquarters on Morris Avenue. But it wont be […]

Debt Settlement Deals Come With Big Risks

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A study from the Washington, DC-based Center for Responsible Lending clarifies the risk associated with the deals, especially when working with third-part debt settlement companies, and concludes that such deals represent a risky strategy for consumers that often leaves them more financially vulnerable. Also see: Bank Savings Low, Americans Dip Into Retirement Savings