Tag Archives: consumers


SFO to investigate banks over mis-selling of complex products

Citywire.co.uk – The Serious Fraud Office (SFO) is to probe UK banks for evidence that complex financial products were mis-sold to consumers before the recession hit. SFO director Richard Alderman plans to investigate the sale of complicated financial instruments like […]

New funding sought for U.S. “clunker” program

Reuters – The U.S. government’s $1 billion "cash for clunkers" auto sales incentive program reached its funding limit unexpectedly after an avalanche of business exhausted its funds, an Obama administration official said late Thursday. Auto dealers began offering government-backed rebates […]

Stock futures flat ahead of retail, jobless data

Reuters – Wall Street was set to open flat on Thursday, with investors eyeing retail sales and weekly jobless data for fresh insight into the state of the recession-hit economy. * Investors will watch a 30-year treasury note auction for […]

Conn. Senate votes to regulate hedge funds

Charleston Daily Mail – The Connecticut Senate has voted to require hedge funds and private equity funds located in the state and doing business here to disclose certain conflicts of interest to customers. Supporters of the bill, which passed on […]

Obama’s barbed words worry corporate world

The Associated Press – Relations between President Barack Obama and U.S. corporate leaders have grown tense in recent weeks, with business groups bristling over his sharp rebukes of lenders and multinational companies in particular. Executives and trade groups that praised […]

Obama to prod credit card firms on fee practices

Reuters – President Barack Obama will weigh in on Thursday on the lending practices of U.S. credit card companies, an issue that has triggered an outcry from consumers hit with high fees and interest rates. Obama has joined a push […]

JP Morgan backs out of toxic assets plan

Mail Tribune – The Treasury Department on Thursday defended the viability of its $1 trillion plan to get soured mortgage investments off of banks’ books after JPMorgan Chase’s chief executive said the company won’t participate in the program. Some analysts […]

Now, hedge funds to be bailed out

domain-B – Hedge funds will be allowed to borrow from the Federal Reserve for the first time under a landmark $200-billion programme intended to support consumer credit. The new programme is aimed at injecting credit for consumers and small businesses […]

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