Consumer Borrowing Increased In January, A Good Omen For Stocks
March 10th, 2010 admin
Consumer borrowing increased in January for the first time in a year, the Federal Reserve has reported, in what is definitely a bullish sign for the stock market. The increase, according to LowCards.com, is even more significant since it occurred despite another drop in credit card loans. According to the Federal Reserve, total consumer borrowing rose to
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Job search engine LinkUp , which indexes jobs from over 20,000 company sites, reports that new job listings on company websites rose by 69,082 in January. An increase of 18% from December. Total job listings on company websites in LinkUp’s search engine increased by 34,525 (4%). This is good news for job seekers and a sharp...
Today, the Federal Reserve proposed a rule amending Regulation Z (Truth in Lending) to protect credit card users from unreasonable late payment and other penalty fees, as well as requiring credit card issuers to reconsider increases in interest rates. This rule will go into effect on August 22, 2010. “This proposal addresses two key costs of...
Washington, DC — The Consumer Federation of America (CFA) has released information to help consumers decide whether to opt-in to bank overdraft fees for debit card purchases and ATM withdrawals. CFA updated a survey of the largest fifteen banks’ overdraft fees and limits, reviewed bank overdraft opt-in forms, and calculated the total cost...
The Federal Reserve announced new rules and credit card protections yesterday. It is the grand finale of the CARD Act, capping late fees and providing possible relief from rate increases. These rules go into effect on August 22. Under these new rules: * There are limited and conditional protections against interest rate increases. Any increase
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The unemployment rate dropped slightly, from 10% to 9.7%, in January, with non-farm payroll employment losing 20,000 jobs. The number of long-term unemployed (those jobless for 27 weeks and over) continued to increase in January, reaching 6.3 million. In addition, the job market remains really competitive with over 6 unemployed workers for every...
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