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The National Urban League is teaming with a small-business financial specialist to offer loans to companies unable to get approved by banks.
The federal government has delivered a record-setting $148 million in loans to Kansas farmers during the 2009 fiscal year.
The Federal Housing Administration's financial cushion has fallen to a dangerously low level, but government officials maintain the agency should avoid a taxpayer bailout under "most economic scenarios."
HSBC Finance Corp. said Tuesday it will sell its auto loan servicing business and $1 billion in car loan receivables for $904 million.
U.S. Sen. Mike Johanns said Thursday that his concern for Nebraska families is what's driving his opposition to legislation that would turn control of student loans over to the government — not lobbying from private student loan provider Nelnet Inc. of Lincoln.
Banks must accurately identify their potential losses when modifying troubled commercial real estate loans under federal guidelines issued Friday.
Casino operator Harrah's Entertainment Inc. says it has agreed to pay $250 million to buy back some commercial loans at a fraction of their face value.
General Motors Co. will announce later this week that it will draw from its government funding to pay the cost of buying a chunk of troubled parts supplier Delphi Corp., a person briefed on the company's finances said Wednesday.
That big whoosh you're hearing is the air rushing out of a commercial real estate bubble.
Recent skirmishes in global trade have prompted readers to wonder why protecting American jobs with tariffs is such a bad idea. Unfortunately, in a global trade war, everybody loses.
Fed Chairman Bernanke said a U.S. government program intended to spark lending to consumers and businesses is still necessary.
U.S. regulators said total losses from large loans at banks and other financial institutions nearly tripled to $53 billion in 2009, due to a deteriorating economic environment and continued weak underwriting standards.
The Federal Reserve is stepping up its scrutiny of commercial real estate loans at smaller banks, where delinquency rates have risen sharply.
Is your bank underwater? Check its debt level in the BankTracker from msnbc.com and American University's Investigative Reporting Workshop. Msnbc.com's Bill Dedman reports.
Central America's development bank says it is freezing credits to Honduras following the June 28 coup that ousted President Manuel Zelaya.
As credit standards for private loans have tightened, some for-profit, or "proprietary," colleges are now lending money directly to students.
Some of the nation's biggest for-profit colleges and vocational schools are boosting enrollment in tough times by making more loans directly to cash-strapped students, knowing full well many of them probably won't be able to repay what they borrowed.
Last week's news on the slow pace of mortgage relief for millions of struggling homeowners generated a flood of mail from readers looking for help. The Answer Desk, by John W. Schoen.
The Energy Department is making available $36 billion in loan guarantees for renewable energy projects and for modernizing the electricity grid.
While the U.S. banking industry struggles to right itself, Goldman Sachs has figured out how to turn financial turmoil into gold. Here’s how.
Chrysler Financial, the former financing arm of automaker Chrysler LLC, said Tuesday that it has repaid in full its $1.5 billion in government loans.
Those "green shoots" of economic rebound don't yet have very deep roots.
ELKHART, Ind. - If you want to see what a credit crunch looks like, head south on Indiana State Road 19 out of Elkhart — past the strip malls, bank branches and restaurants to the still-beating heart of “the RV Capital of the World.” There, scattered along a 2-mile stretch of Nappanee Street, you’ll find a ragtag assortment of RV dealerships that are in many ways symbolic of the nation’s crazy-quilt lending landscape.
How should a family with a special-needs child plan for the future? How should a married couple with two young children handle their student loan debt? What's the best way to tackle an exceptionally high amount of credit card debt? TODAY financial editor Jean Chatzky, CNBC’s Carmen Wong Ulrich and “Start Late, Finish Rich” author David Bach answer questions and provide helpful advice on these and other matters.
BofA touts lending of $184 billion in quarterBank of America Corp. said Monday that it extended nearly $184 billion in credit during the third quarter, as households and communities remain under financial strain.
CIT Group's biggest hurdle: Keeping customersCIT is one of the nation's biggest lenders to small and mid-sized businesses, providing financing to a large array of businesses including retailers, energy companies, a small movie studio, and operators of Dunkin' Donuts stores.
Best Places to Launch a Small Business 2009 - Lending Hot Spots - FORTUNE Small BusinessThe best times to start a successful business is in a recession, or as they teach in every business school in America an economic down turn. The proof is in history, and history hold that the small businesses founded in these hard times can grow to be large and successful.
Despite Housing Slump, Mortgage Lenders Making Record Profits From Junk FeesThe Mortgage Bankers Association recently announced that independent mortgage lenders made an average profit of about $1,100 per loan originated in the first quarter of the year, an astonishing 635 percent increase from the previous quarter.
Apparently building the small business base is not a good idea if the 2009 budget is any indication. There are some who will say that the excuse is that this was put together in 2008.
JP Morgan's Acorn Housing Board Member Steps Down The J.P. Morgan spokesman declined to say why Mr. Loaiza had stepped down from the Acorn Housing board but said the decision was his. Mr. Loaiza didn't respond to requests for comment. A spokeswoman for Acorn Housing said Mr.
BofA Suspends ACORN CommitmentsBank of America has suspended its current commitments to ACORN Housing, an affiliate of Association of Community Organizations for Reform Now (ACORN), a scandal-hit U.S. liberal grassroots group, the Wall Street Journal said on Monday.
Ask the expert: Lending money to family members - Sep. 15, 2009As an individual who has been exploited by members of my family, I can say if you lend money to relatives and they then use it to hurt you by destroying your trust in them.
Say goodbye to the recession. Fed chair Ben Bernanke made the announcement on Tuesday.
Rates for 30-year Loans DropHomeowners with 30-year loans (and looking to refinance) have been seeing some good news this past month concerning loan rates. For the past three weeks in a row now, rates for 30-year home loans have dropped to 5.04 percent.
September 11th, 2001 I was outside talking on the cell with my grandmother. The sun was just barely peaking over our rooftop when my husband yelled at me from the kitchen that the World Trade Center was under attack.
Obama's Ties to Bill Ayers and ACORN, Ayers educate the school children in politics, Is Obama telling the truth about ACORN? Was Obama legal counsel for ACORN? Is Obama telling the truth about ACORN and Ayres saying "educate the children"?" Stimulus monies up to 20% to ACORN?
'American Casino': How Our Nation's Financial Sector Became a Massive and Unregulated Gambling Operation Well, originally, whole areas of the population, specifically African Americans and other minorities, were "red-lined." There would literally be a red line around areas on realtors' maps. And you don't make a loan to people living inside those lines.
A 'Little Judge' Who Rejects Foreclosures, Brooklyn StyleEvery week, the nation's mightiest banks come to his court seeking to take the homes of New Yorkers who cannot pay their mortgages. And nearly as often, the judge says, they file foreclosure papers speckled with errors.
Inflation is on Its WayThe noose is tightening. Keep only three months operating expenses in a bank, six months for businesses, and keep $5,000 or more at home in small bills for emergencies with your gold and silver coins. Let this be a lesson to you. They are preparing for currency controls.
During this historic economic time, more disturbing news was announced this week that will have a disastrous effect on my afternoon coffee and candy habit: Sugar is at its highest price since the 1980's! Starbucks is already adding 30 cents to my favorite low fat beverage, with …
Unfixed Glitch Gives Social Security Numbers Away - American Social Security numbers are being given away to foreigners thanks to a processing glitch the U.S. Social Security Administration didn't know existed and the federal government hasn't fixed.
Dismantling the Temple :How to fix the Federal ReserveDuring the past year, the Fed has flooded the streets with money--distributing trillions of dollars to banks, financial markets and commercial interests--in an attempt to revive the credit system and get the economy growing again.
Back to Business - A Second Act in the Mortgage Disaster - Series - NYTimes.comLOS ANGELES — From the ninth floor of a downtown office building on Wilshire Boulevard, Jack Soussana delivered staggering numbers of mortgages to homeowners during the real estate boom, amassing a fortune.
Latvian firm accepts souls as guarantee for creditsA financial company in Latvia is offering residents loans secured by nothing but their immortal soul.
Housing troubles continuing for U.S."Although Wall Street's focus has turned to other matters, the housing crisis continues to smolder and burn like an abandoned campfire ready to reignite.
With 100 Times As Much Money Lost in Home Foreclosure Sales Then Loan Modifications, Lenders Still Resist Writing Down Balances For Borrowers Loss severities, like foreclosures, are rising. In November, losses averaged 56.1 percent of the original loan balance; in February, 63.3 percent.
Mass grave of skeletons spewing forth from KaupthingKaupthing Bank loaned its staff a total of ISK 47.3 billion (in the region of USD 640 million at the time) solely to buy its own shares in 2006 alone. This comes from the tabloid DV newspaper which claims to have a complete copy of the Kaupthing 2006 loan book in its possession.
New Federal Program: Help Is on the Way for Student Loans, July 1Relief is just around the corner for the many young Americans who struggle under the weight of student-loan debt.
Scrutiny Grows as US Pays Staffers' Student LoansRecruitment tool heavily used with professionals
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