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Incoming House Finance Chair Vows Harsh Bank Regulations

New leadership in Congress is preparing to take over in January, and the next Chairwoman of the House Financial Services Committee is putting big banks on notice. California's Democratic Rep. Maxine Waters, perhaps best known as the woman who called for supporters to harass Trump Administration officials at gas stations, will most likely replace current Texas Republican Rep. Jeb Hensarling to chair the committee responsible for overseeing the country's largest financial institutions. In the run-up to the takeover, Waters has pledged to put an end to the Trump Administration's trend of removing Obama-era banking regulations. "Make no mistake, come January, ...Continue reading

Wells Fargo Finds More Homes Accidentally Foreclosed On

Wells Fargo has discovered even more homes that it accidentally foreclosed on over the last few years, now totaling over 800 homeowners that may have gone through the process of foreclosure even though they qualified for a loan modification or a repayment plan. Poor business processes and incorrect calculations appear to be to blame for many of the bank's foibles, and there are rising concerns that there may be additional issues that have yet to be discovered. In the mean time, homeowners affected by the foreclosures may be able to pursue compensation. Calculation Errors in Mortgage Modifications It's a recurring ...Continue reading

Investors Revisit Their Sentiments After Midterm Elections

All-in-all, the midterms went as most expected. While the Democrats were able to win control over the House, the Republicans kept the Senate. This was reassuring for many investors, and the market was able to open higher on Wednesday. Though the Democrats may not have the House yet, the Republican influence in the Senate is seen as enough to at least temporarily stabilize the economy. However, this has also made investors wary of the upcoming 2020 elections... and it may have some ramifications for the economy overall. Historically, a divided government is seen as harmful for the economy. Gridlocked legislatures ...Continue reading

Identity Theft will Be a Huge Threat This Black Friday

Though the holiday shopping season technically begins on November 1, most people will agree that it “officially” begins on the day after Thanksgiving. Yes, the “holiday” known as Black Friday always draws big crowds – and big profits for retailers. In fact, it’s estimated that as much as 70 percent of the U.S. population participates in Black Friday shopping, whether it’s in person at a brick-and-mortar store or online. But with increased activity also comes increased risk – and the big threat that often rears its head during this time of the year is identity theft. Here’s a closer look ...Continue reading

2018 Christmas Spending Set to Reach Record Highs

The holiday season is soon to be upon us, and that means that you can prepare yourselves now for the ugly sweater parties, family gatherings and other activities that typically characterize the Christmas season. The holidays are also the season to be giving, and according to various retail forecasts, Americans are going to be giving in record numbers this year. In fact, according to eMarketer, Christmas spending is expected to surpass the $1 trillion mark. That's a new record, and a sign of the biggest projected year-over-year spending increase since 2011. So what can you attribute to that extra gift ...Continue reading