The Deutsche Bank was sued by the US Justice Department on Tuesday for the case of mortgage fraud. The Justice Department said the bank illegally acquired government insurance for below standard mortgages at the time when US housing is flourishing. The complaint from the Justice Department said the German Deutsche Bank repeatedly lied to be […]

For the first time in a very long time- or at least since the recession started- credit card executives are seeing bright sunny days and are looking far beyond the losses brought by the financial crisis. This is a really good thing considering the fact that the government is planning to tighten their grip on […]

The administration of President Obama is taking into consideration a plan that would oblige more businesses to pay the corporate income tax in a reform that might be released earlier this month, an industry group said on Monday. The tax reform proposal entitles businesses with gross receipts more than $50 million to pay the corporate […]

The United States was castigated by world finance leaders on Saturday because of its inadequate actions to lessen its large budget deficits. Finance leaders said monetary constraints in rich countries such as the United States can largely jeopardize global recovery. On Saturday, finance ministries were in Washington for its semi-annual meeting. This time, they have […]

After the Tuesday night’s drawing, the Mega Millions jackpot soared to $304 million with a cash prize of $193.6 million and a 4.04 percent yield. The winning numbers for the Mega Millions draw on Tuesday, March 22, 2011 were 1, 14, 35, 50 and 53. The Mega Ball number was 43 and the Megaplier number […]

Your spending habits may soon be changed after a reliable source disclosed that JPMorgan Chase, one of the largest banks in the nation, will consider capping transactions using your debit card at $100 or even $50. This decision is due to interchange fees. At the moment, retailers pay around 44 cents for every debit card […]

The Obama administration is thinking of tapping into the United States Strategic Petroleum Reserve to help ease escalating prices on oil, said William Daley, the White House Chief of Staff on Sunday. The Congress has placed pressure on the administration to search for emergency oil supply to relieve fears of consumers over soaring gasoline prices. […]

Many investors who viewed target date funds as a relatively safe investment were rudely shocked when in 2008 the average fund with a stated target date of 2010 reported a loss of 24.6%. Investors believed that a fund that was investing for someone just two years away from retirement would have had a mixture of […]

The Federal Housing Finance Agency (FHFA) has released their year end reports regarding the housing market. What these reports have shown is that the housing market is still in a decline. The enormous amount of foreclosures that are available on the market are driving home prices even low. Lenders, looking at the escalating amount of […]

The average new credit card interest rate is now 14.72%. Although, credit cards marketed to those with bad credit can top out at 59.9% interest. Congress passed the CARD act to combat fees that credit card companies can charge, unfortunately capping interest rates was not part of that package. Banks may not retroactively raise customer […]