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Car Insurance: Is Accident Forgiveness Really Worth it?

You’ve seen the commercials on television where insurers advertise their accident forgiveness add-on to auto plans. Chances are the feature has even piqued your interest, at least enough to give the ad your full attention. After all, it’s an intriguing option – especially when you consider that a single accident claim can increase your insurance premium by up to 40 percent each year. If you’ve had the misfortune of filing two accident claims in a year, your car insurance premium can potentially double. Nobody wants to pay more than what’s necessary for car insurance, especially when you consider that insurance ...Continue reading

China Responds to Trump’s Demands for Trade Reform

The bitter trade dispute between the world's two largest economies is finally showing signs of coming to an end as China reportedly delivered a written response to the Trump administration's trade reform demands. China's response was reported to Reuters and several other outlets by unnamed U.S. government officials in Washington. According to these sources, China's outline of possible concessions falls short of what President Donald Trump is asking for, but may effectively signal the end of what Vice President Mike Pence has referred to as 2018's Cold War. Sources have not yet disclosed exactly what these concessions are. "They are ...Continue reading

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