July 2010 Archives

Marketing Business Weekly
August 8, 2010

The Kindergarten to College (K2C) children's savings accounts program, a first-of-its-kind initiative to provide matched college savings accounts for San Francisco children attending public kindergarten, has received budgetary funding, making the program a reality. The program-a partnership between EARN, the nation's leading provider of matched savings accounts for low-income workers, the City of San Francisco and CFED-is to begin pilot implementation in fall 2010.

California Chronicle
July 30, 2010

San Francisco -- Mayor Gavin Newsom today signed a balanced budget for San Francisco´s 2010-2011 fiscal year that invests in jobs, protects public safety, and preserves the City´s social safety net for the most vulnerable - without new general tax increases. The City´s final $6.55 billion balanced budget closes the once-projected $482.7 million deficit through City government efficiencies and reforms and significant public employee union concessions.

The Washington Post
By: Lori Montgomery
July 30, 2010

In a fresh blow to President Obama's jobs agenda, the Senate on Thursday shelved a plan to create a $30 billion loan fund for cash-strapped small businesses, delaying final passage of a top administration priority until September at the earliest.

The Washington Post
By: Dina ElBoghdady
July 30, 2010

Foreclosure activity climbed in three-quarters of the largest U.S. metropolitan areas in the first half of 2010, compared with the same period a year ago, but declined in some of the nation's hardest-hit regions, according to data released Thursday.

The Wall Street Journal
By: Dawn Wotapka
July 29, 2010

One of the nation's last sources of no money down financing for home loans appears to be making a comeback: Legislation that restores a Department of Agriculture home-buying program is headed to President Barack Obama's desk for signature.

TheStreet.com
By: Carmen Nobel
July 29, 2010

There may be strength in numbers, but that doesn't seem to hold true when it comes to small businesses owned by women.

The Wall Street Journal
By: Darrell A. Hughes
July 29, 2010

Bank of America Corp. on Thursday will commit $10 million in grants to nonprofit organizations that lend to small and rural businesses.

The New York Times
By: David Herszenhorn
July 29, 2010

WASHINGTON -- Senate Republicans on Thursday rejected a bill to aid small businesses with expanded loan programs and tax breaks, in a procedural blockade that underscored how fiercely determined the party's leaders are to deny Democrats any further legislative accomplishments ahead of November's midterm elections.

Justmeans
By: Barbara Zaha
July 30, 2010

To develop talented new leadership in the social enterprise sector while remaining relevant and responsive to the global economy, the United Negro College Fund, (UNCF), has developed dynamic Social Entrepreneurship programs "to equip African Americans with the skills and resources to make on-going and expanding social impact through entrepreneurship." UNCF intends to accelerate social change by simultaneously strengthening the power of existing organizations and developing qualified leadership for the future. To meet the complex social challenges spurred by growing disparity, an aging population, climate change, and increased urban populations, UNCF Social Entrepreneurship programs are designed to serve communities across the globe as well as the organizations - be they non-profit or social enterprise - already in place to do so or yet to be developed. Recent economic and political trends have only exacerbated the need for qualified, committed leadership in this emerging sector.

Triple Pundit
By: BC Upham
July 30, 2010

There are 30-40 million American households without a bank account, according to the Center for Financial Services Innovation, a fact that could either be seen as a sad statistic - or a tremendous business opportunity.

EGPNews
By: Elizabeth Hsing-Huei Chou
July 30, 2010

Half of low-income families in Los Angeles choose alternative financial services, such as check cashers, over banks for their financial needs, exposing them to "risks of theft, fraud and loss," according to Pew Health Group researchers in a report titled "Unbanked by Choice."

Investment Weekly News
August 7, 2010

The Kindergarten to College (K2C) children's savings accounts program, a first-of-its-kind initiative to provide matched college savings accounts for San Francisco children attending public kindergarten, has received budgetary funding, making the program a reality. The program-a partnership between EARN, the nation's leading provider of matched savings accounts for low-income workers, the City of San Francisco and CFED-is to begin pilot implementation in fall 2010.

Independent Mail
By: Charmaine Smith-Miles
July 28, 2010

ANDERSON -- More than $800,000 million in benefits like food stamps and health insurance for South Carolina residents went unclaimed in 2009 and was put back into government coffers.

The Washington Post
By: Lori Montgomery and Michael D. Shear
July 29, 2010

As President Obama and his adversaries look for winning themes in the run-up to the November congressional election, both sides are noisily clamoring to prove their support for a critical constituency: America's small-business owners.

The Washington Post
By: Michelle Singletary
July 29, 2010

Over the years, I've met too many people who were stuck in a hellish payday-loan cycle, rolling one loan into another until the fees and the outstanding balance crushed them.

MarketWatch
July 29, 2010

Grants to Nonprofits Will Help up to 8,000 Businesses Obtain New Loans Over the Next 12 Months

WASHINGTON (BUSINESS WIRE) -- Bank of America today announced it will provide $10 million in grants to nonprofit lenders, such as Community Development Financial Institutions (CDFIs), to leverage funds from the U.S. Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA) for lending to small and rural businesses. The grants, for use as loan loss reserves, may unlock as much as $100 million in low-cost, long-term capital for small business microloans nationwide over the next 12 months.

WHSV
By: McKinsey Harris
July 29, 2010

A certain type of home is seeing a dramatic increase in sales, while much of the housing market is just starting to recover.

A certain type of home is seeing a dramatic increase in sales, while much of the housing market is just starting to recover.

The New York Times
By: Kristina Shevory
July 29, 2010

Amanda Keppert is convinced that she would have lost Mandy's Korner, her hot dog stand in San Jose, Calif., if she had not received a type of loan that is more common in the third world than in the United States.

The New Republic
By: Seyward Darby
July 29, 2010

When President Obama speaks to the National Urban League today about education reform, he'll be on the defensive. On Monday, the league and six other civil rights groups -- including the NAACP Legal Defense Fund and the Rainbow Push Coalition -- released a document outlining what they see as the most pressing priorities for U.S. public schools. In it, the groups issue strident criticisms of some of Obama's key reform efforts. Their chief complaint? That Obama's could further disadvantage minority students. "[M]ore comprehensive reforms are necessary to build a future where equitable educational opportunity is the rule, not the exception," the document says.

East Bay Express
By: Jonathan DeYoe
July 28, 2010

CNNMoney
By: Julianne Pepitone
July 27, 2010

The number of Americans who own homes fell in the second quarter of the year to the lowest level since 1999, said a government survey released Tuesday.

The American Banker
By: Claudia Viek
July 28, 2010

On July 12 the Federal Reserve Board of Governors invited a national audience of bankers, small-business trade groups, government agencies and leaders of community development financial institutions to address the immediate and longer-term credit needs of small businesses.

The Wall Street Journal
By: Sue Shellenbarger
July 28, 2010

Watching fellow college students working for $7.50 an hour after graduation, Tana Walther, a fashion-design major at Kent State University in Ohio, snapped up an alternative offered by her father--to run a Pita Pit restaurant franchise he would buy.

San Mateo County Times
By: Brian McDonnell
July 27, 2010

The South San Francisco Public Library is unveiling a newly expanded project designed to assist those having trouble in today's economy.

The Columbian
By: Libby Tucker
July 27, 2010

When small-business owner Susana Serna wanted to expand her medical clinic into a larger office this year, she didn't even try to land a bank loan. She knew she wouldn't qualify.

Civilrights.org
By: Thomas Epps
July 26, 2010

A report released by Mathematica Policy Research finds that the extended learning time at Knowledge is Power Program (KIPP) schools helps their students outperform their counterparts at other public schools. Twenty-two KIPP middle schools were observed, including two in Washington, D.C.

School credit

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Newsweek
By: Angela Wu
August 2, 2010

The financial-reform bill signed into law last week includes a section on dangerous mortgages, with a provision for educating the elderly, the poor, minorities, those with language barriers, and "other potentially vulnerable consumers." Who's not mentioned but should be? The young. Among unemployed Americans ages 18 to 29, more than a quarter are behind on mortgage payments, one 2009 study found, and this group also has soaring credit-card debt and bankruptcy rates. Spurred into action by the recession, some states are taking financial education to a place personal-finance experts have long advocated: high school.

Reno Gazette-Journal
By: Bill O'Driscoll
July 26, 2010

Shelby Molchan admits she did not fit the profile of an ideal business loan candidate.

The Wall Street Journal
By: Ellen Byron
July 26, 2010

After Years Criticizing Retailer's Environmental Sins, Seventh Generation Now Partners on Efforts, Puts Products on Shelf

For years, Seventh Generation Inc. co-founder Jeffrey Hollender liked to say "hell would freeze over" before his company's environmentally friendly household products would be sold by Wal-Mart Stores Inc.

The San Francisco Chronicle
By: Carolyn Said
July 26, 2010

Janeise Ollison's eyes lit up as she described how she was advised to fix her credit and boost her savings.

The San Francisco Examiner
By: Erin Sherbert
July 26, 2010

With the school year approaching, a program started by Mayor Gavin Newsom will begin dropping cash into accounts for kindergartners to start saving for college.

The Washington Post
By: Jonathan O'Connell
July 26, 2010

Nearly a year after the D.C. government put a contentious affordable housing provision into place, the policy has not created any new affordable homes.

The New York Times
By: Joe Nocera
July 24, 2010

The other day, a mortgage broker named Deb Killian called me, more or less out of the blue. Ms. Killian has been in the business since 1994. She and her husband run Charter Oak Lending Group, a small firm based in Danbury, Conn., that they founded in 1996. She is a member of the board of the National Association of Mortgage Brokers. By her estimate, she has closed more than 3,500 loans during her career.

The New York Times
By: Tara Siegel Bernard
July 24, 2010

The next time you receive your 401(k) statement, do this experiment: don't just look at your latest balance. Try to figure how much you're paying in fees.

PRNewswire

July 25, 2010

BETHESDA, Md., July 25 /PRNewswire-USNewswire/ -- In an address to Members of Congress and participants attending a Congressional Black Caucus meeting, Robert L. Johnson, founder and chairman of The RLJ Companies, called for a national discussion about the growing wealth gap which he referred to as a "wealth gap Tsunami threatening African American families." He cited the recent Institute on Assets and Social Policy at Brandeis University study, among other studies, which conclude "the wealth gap between white and African American families has more than quadrupled over the course of a generation; the racial wealth gap increased by $75,000, from $20,000 to $95,000; and, at least 25 percent of African Americans have no assets." According to the U.S. Census data, "white household median net worth is 10 times that of Black households. The median net worth for African Americans was $11,800 compared to $118,000 for whites."

Tiny loans propel big dreams

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The Miami Herald
By: Ina Paiva Cordle
July 26, 2010

Elvita Francois proudly shows off a shiny new buffet counter at her tiny restaurant inside the Opa-locka Flea Market, where she serves Haitian and Latin specialties like goat, oxtail and congris.

The Arizona Republic
By: Betty Beard
July 25, 2010

Work a job and you can be paid in many ways. By check. By credit card. By automatic deposit into a bank account. But traditional cash payments still play a major role in Arizona, often greasing the wheels of commerce for illegal immigrants.

The Wall Street Journal
By: Nick Timiraos and Damian Paletta
July 25, 2010

Treasury Secretary Timothy Geithner said Sunday the government should retain "some type" of federal guarantee to ensure that Americans can easily finance home loans, in what could be the latest salvo between the Obama administration and Republicans over the future role of the public sector in the housing market.

The Washington Post
By: Kathleen Maloy
July 25, 2010

Regarding the July 15 Metro article "Washington region ranks as the best-educated in the country":

ABCNews
By: Teresa Garcia
July 26, 2010

SAN JOSE, CA (KGO) -- A local nonprofit group is pursuing its vision that every young person will find a pathway to prosperity. Its recipe mixes a touch of sugar with a bit of creative classroom education to create a new generation of business, civic and community leaders.

The Miami Herald
By: Terence Shephere
July 26, 2010

Why should a company needing a modest capital investment not be able to move forward with a lifelong dream so long as someone is willing to make it happen, legally?

The San Francisco Examiner
By: Melissa Griffin
July 22, 2010

'I congratulate the mayor of San Francisco," Supervisor Chris Daly said at Tuesday's final budget vote. And he was right. Two of Mayor Gavin Newsom's pet projects -- Kindergarten 2 College savings accounts and a home for Homeless Connect facilities -- were restored to the budget, and the rest of the $44 million that the board managed to put back in the spending plan was for "mom and apple pie" items like violence prevention and children's services.

Indian Country Today
By: Mark Fogarty
July 14, 2010

GALLUP, N.M. -The Navajo Partnership for Housing continues to bring mortgage financing to members of the Navajo Nation on or near its reservation, which sprawls across New Mexico, Arizona and Utah, despite the housing depression.

Right Vision News
July 22, 2010

Bank of America Home Loans has opened a new customer outreach center in Fort Lauderdale to serve customers in the South Florida area. Bank of America homeownership retention specialists will be meeting face to face with financially troubled mortgage customers who are having difficulty making their monthly payments. Dedicated associates are also available to help customers facing hardship with their auto loans, credit cards and personal loans, according to a press release issued here.

The Daily News
By: Aisling Maki
July 23, 2010

This spring, Memphis Mayor A C Wharton Jr. announced the launch of "Bank On Memphis," a financial literacy campaign whose goal is to bring "unbanked" Mid-Southerners into the financial mainstream.

New York Business
By: Hilary Potkewitz
July 22, 2010

Pricier check-cashing and money-order services charge typical "unbanked" household in Manhattan about $530 per year in fees, Borough President Scott Stringer reports.

Living in the financial capital of the world may have its perks, but having a bank account isn't necessarily one of them. More than 13% of New Yorkers do not have a bank account, compared to 7.7% of people nationwide, according to a recent city-wide financial services study by the Mayor's Office of Financial Empowerment.

The Washington Post
By: Dina ElBoghdady
July 23, 2010

Sales of previously owned homes dipped in June for the second consecutive month and are expected to keep dropping at least through the rest of the summer, now that a lucrative homebuyer tax credit has expired.

The Washington Post
By: Susan Kinzie
July 22, 2010

A new network to help low-income young people in the Washington area will be funded by some $13 million from nonprofits, private philanthropists and the federal government, and will reach an estimated 20,000 people over the next five years, Venture Philanthropy Partners announced Thursday.

The Ladder (New American Foundation Blog)
By: Mark Huelsman
July 21, 2010

In a late-night deal, the City of San Francisco's Board of Supervisors has approved a city budget that rounds out at about $6.5 billion. $257,000 of that sum is set to fund the Kindergarten-to-College initiative, discussed here and elsewhere, that will provide a college savings account for each child entering kindergarten in the City's public school system.

Earthtimes
July 22, 2010

SAN FRANCISCO - The Kindergarten to College (K2C) children's savings accounts program, a first-of-its-kind initiative to provide matched college savings accounts for San Francisco children attending public kindergarten, has received budgetary funding, making the program a reality. The program--a partnership between EARN, the nation's leading provider of matched savings accounts for low-income workers, the City of San Francisco and CFED--is to begin pilot implementation in fall 2010.

The New York Times
By: David Herszenhorn
July 21, 2010

WASHINGTON -- Perhaps the last best hope of Democrats to pass legislation aimed at creating jobs before the November elections seemed to be crumbling in the Senate on Wednesday as Republicans signaled that they would block a bill to expand government lending programs and grant an array of tax breaks to small businesses.

Collateral Damage in Lending

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The Wall Street Journal
By: Emily Maltby
July 22, 2010

With Assets Harder to Value, More Small Businesses Need Cash to Get a Loan

Behind the credit squeeze on small business lies the collateral gap.

The New York Times
By: Sewell Chan
July 22, 2010

WASHINGTON -- The Obama administration's program to help homeowners avoid foreclosure has fallen far short of its goals, in part because the Treasury Department has failed to spell out what its objectives should be, according to an assessment offered to Congress on Wednesday.

The Wall Street Journal
By: Damian Paletta
July 22, 2010

WASHINGTON--President Barack Obama on Wednesday signed into law the most sweeping financial overhaul since the Depression, putting the country on a course toward a more muscular regulatory framework.

Ventura County Star
By: Allison Bruce
July 21, 2010

Credit unions could lend more to small business owners under an amendment to a bill being discussed in the U.S. Senate this week.

Vindy.com
By: Guy D'Astolfo
July 22, 2010

A text frame at the beginning of "Homeless: The Motel Kids of Orange County" lays out the basis of this HBO documentary: In the richest country in the world live some of the poorest people.

The Root
By: Cord Jefferson
July 21, 2010

The passage of banking reform by Congress promises greater protection for consumers against predatory practices. But there's much more needed to address the historic imbalance, says one economic expert.

With the Obama administration's hard-fought passage of financial reform, Americans are waiting with bated breath and open wallets to see if their windfall is on the horizon. While people of all races have struggled in the past few years, black Americans have been disproportionately affected by the recent economic collapse, and many are eager to operate under a policy that claims it can help close our nation's skyrocketing white-black wealth gap.

Credit.com
July 20, 2010

A study of low-income income families in the Greater Los Angeles area has found that about half of those reviewed are more likely to seek out unregulated financial services rather than banks.

USA Today
By: Tim Watson
July 20, 2010

Home builder confidence fell for the second month in a row in July as an expired federal tax credit and public unease over the economy depressed housing demand.

Des Moines Register
By: Lee Rood
July 20, 2010

Residents of private mobile home parks and their neighbors in 15 cities complained about unsafe conditions, unfair fees, abrupt evictions and other problems at the parks in the wake of a Des Moines Register report last week.

The Wall Street Journal
By: Jessica Holzer
July 21, 2010

WASHINGTON--The federal government's foreclosure-prevention effort continued to sputter, as the number of homeowners leaving the program exceeded those who received new loan modifications for the second straight month.

TARP Lending Programs Curtailed

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The Wall Street Journal
By: Deborah Solomon
July 21, 2010

WASHINGTON--The Treasury Department, under Congressional orders to shrink and end sooner the much-maligned Troubled Asset Relief Program, plans to curtail two programs originally intended to help consumer and small-business lending.

The Washington Post
By: Zachary Goldfarb
July 21, 2010

After President Obama signs into law an overhaul of financial regulation at a ceremony set for Wednesday, his administration will turn to reforming an area at the root of the financial crisis: the U.S. housing market.

The New York Times
By: Tara Siegel Bernard
July 19, 2010

Expectant parents shopping for a home are not the only ones concerned about the date of the baby's arrival.

The Washington Post
By: Brady Dennis
July 20, 2010

President Obama has yet to sign the bill that will overhaul financial regulations, and already a tug of war is unfolding over whom he will tap for the highest-profile position created by the landmark legislation.

The Wall Street Journal
By: Robin Sidel
July 20, 2010

Many of the nation's ailing small banks got into trouble when they expanded into unfamiliar regions across the country.

The News Journal
By: Kim Iapalucci
July 19, 2010

Recently, Delaware's Legislature and Gov. Jack Markell passed the state budget. AARP is pleased to see that certain provisions were made and funding preserved for some key programs that benefit Delawareans 50 and up, and also their caregivers, family members and friends.

San Antonio Express-News
By: Jenny LaCoste-Caputo
July 18, 2010

After operating just one year, KIPP University Prep High School has evidence it's on the right track.

It's Payback Time

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Newsweek
By: Rana Foroohar
July 19, 2010

How a Bangladeshi bank is growing in the U.S. by making tiny loans to groups of poor women with entrepreneurial dreams

Laura Falcon, an Ecuadoran immigrant working as a babysitter in New York, became an entrepreneur by accident. About a year ago, when her uncle back in Ecuador was having hip problems, Falcon sent him some vitamins that seemed to help. She began to think there could be a broader market for the products, which are not widely available in her home country. But she needed a loan to buy them in bulk, and as a person with no credit history she couldn't get one from any local bank.

The Washington Post
By: Jonathan Kern
July 18, 2010

If your junior-high soundtrack was more Bangles or Britney than Beatles, I am going to try to scare some sense into you with three words about life in retirement, based on personal experience: The paychecks stop.

North County Times
By" Eric Wolff
July 18, 2010

Jo Ellen Adelman bought her energy-efficient home right out of a factory.

Milwaukee Journal Sentinel
By: Patrick McIlheran
July 18, 2010

Don't worry, says the state agency that's running radio ads about how you can get a home with (almost) no cash. This time, they've got it all figured out.

The Wall Street Journal
By: Laura Saunders
July 17, 2010

Small businesses and self-employed workers, look out: There is a blizzard of new tax paperwork on the horizon.

New Rules for Loans

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The Wall Street Journal
By: Jonnelle Marte
July 18, 2010

College students and recent graduates taking out or paying down federal loans are facing a flurry of changes.

New America Foundation Blog
By: Justin King
July 15, 2010

Senator Charles Schumer and Senator Chris Dodd have introduced the ASPIRE Act of 2010. The bill is S. 3577 and is a companion measure to the House version, H.R. 4682, which has Reps. Kennedy, Petri and Cooper in the lead.

The Wall Street Journal
By: Damian Paletta and Aaron Lucchetti
July 16, 2010

Senate Passes Overhaul That Will Touch Most Americans; Bankers Gird for Fight Over Fine Print

WASHINGTON--Congress approved a rewrite of rules touching every corner of finance, from ATM cards to Wall Street traders, in the biggest expansion of government power over banking and markets since the Depression.

The Times of Trenton
By: Michelle Yee
July 15, 2010

It is no secret that many New Jerseyans of all ages are drowning in debt. Many are also not planning properly for retirement, saving for college or able to purchase a house. There are a hundred different reasons why this is happening, and the resulting horror stories are endless. However, a good percentage of these scenarios could be prevented if youngsters were exposed to basic financial literacy courses when they are school-aged.

The Beaumont Enterprise
By: Amy Moore
July 16, 2010

Amber Barnhill has too much on her plate to try to attend a traditional university. Long semesters, classes set at certain times and years for completion won't work for her.

The Brookings Institution Up Front Blog
July 14, 2010

As we approach August recess, Congress has a full plate, including financial reform, unemployment benefits, climate change and the confirmation of Elena Kagan. Meanwhile, members are anxious to close down the session and hit the campaign trail in the critical midterm elections.

Des Moines Register
By: State Sen. Jack Hatch (D-Iowa)
July 14, 2010

In 1964, President Lyndon Johnson stated that this country would fight poverty. Forty-six years later, the Iowa Community Action Agencies are continuing to fight day after day for the Iowans who still live in poverty.

The Wall Street Journal
By: Sarah E. Needleman
July 14, 2010

Mentally and Physically Challenged Adults Seek to Open Their Own Business, but Face Many Hurdles

David Shunkey is autistic and doesn't speak. Around the start of the recession, he got laid off from two jobs. Now he's trying to run his own business.

Mortgage Applications Tumble

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The Wall Street Journal
By: Joan E. Solsman
July 15, 2010

The number of mortgage applications in the U.S. for home purchases fell to a 13 1/2-year low last week, the Mortgage Bankers Association reported Wednesday, in a further sign of the slump in homebuying since a federal tax credit concluded at the end of April.

The Washington Post
By: Michelle Singletary
July 15, 2010

The nonpartisan Employee Benefit Research Institute regularly delivers the dreadful news of how unprepared so many Americans are for retirement. The findings give you a chill, much like seeing an image of the iconic black-robed, scythe-carrying personification of death.

The Boston Globe
By: Joel Brown
July 15, 2010

High unemployment is hitting home - literally - in the Merrimack Valley's largest communities.

Westport News
By: Tom Henske
July 14, 2010

As a parent you probably have a difficult time determining the proper amount of "screen time" your children should be allowed to have.

The Washington Post
By: Alec MacGillis
July 14, 2010

The Obama administration has set off a pitched debate among housing officials and advocates by promoting far-reaching legislation to overhaul the way the nation's 2,400 public housing authorities operate, with potentially major ramifications for their 2.3 million residents.

The Washington Post
By: Brady Dennis
July 14, 2010

Administration officials and federal regulators quietly began laying the groundwork to implement the far-reaching measures in the 2,300-page regulatory overhaul legislation weeks ago, even though the bill has not yet cleared Congress.

The Washington Post
By: Carol Morello
July 14, 2010

Emogene Mitchell spent two decades in the cocoon of a multinational research institute, rising to vice president in charge of events planning. Then the economy tanked, and the workload shriveled.

The Wall Street Journal
By: Tom Barkley
July 13, 2010

Federal Reserve Chairman Ben Bernanke urged banks and regulators Monday to seek out ways to ensure that small businesses get the credit they need to create jobs.

Detroit Free Press
By: Greta Guest
July 13, 2010

Michigan's Hardest Hit program launched Monday to intense interest because it will pay $5,000 to $10,000 toward the mortgages of the roughly 17,000 homeowners expected to qualify.

Lexington Clipper-Herald
By: Jennifer Chick
July 13, 2010

HOLDREGE - Tomorrow's business owners huddle around a table excitedly sharing their ideas for making money and starting their own businesses.

The Post and Courier
By: Caitlyn Byrd
July 14, 2010

Presentations let children build on dreams

Arnay Fludd remembered the nerves she had at last summer's BIZ Camp presentations, but this year would be different.

Retirement Security Brighter

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The Wall Street Journal
By: Jeannette Neumann
July 13, 2010

Retirement plans are doing a better job of providing a secure retirement for workers than a decade ago, according to a study to be released Tuesday by a nonpartisan research group. Many workers, however, may still come up short.

Homeowners vs. Home-Loan Buyers

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The Wall Street Journal
By: Ruth Simon
July 13, 2010

Eddie Patrick thought he had a deal with Kondaur Capital Corp. to restructure the mortgage on his Baltimore house after he fell behind on his payments. The 54-year-old taxi driver dropped a lawsuit against the company after he says it promised to "work with me" on a loan modification, according to a court filing.

The New York Times
By: Sewell Chan
July 13, 2010

WASHINGTON -- The chairman of the Federal Reserve urged banks and regulators on Monday to help the nation's small businesses get the loans they needed to create jobs.

The Wall Street Journal
By: Damian Paletta
July 13, 2010

Democrats Clinch Support of Republicans Brown and Snowe, Likely Reaching the 60 Votes Needed for the Legislation

WASHINGTON--Two Senate Republicans said Monday they would support the Obama administration's financial-overhaul legislation, and Democrats now believe they have the 60 votes needed to push the sweeping bill into law by the end of the week.

Fort Worth Business Press
By: Aleshia Howe
July 12, 2010

Most commercial real estate owners and brokers admit to offering more tenant improvement dollars or rent abatements these days. But one Fort Worth real estate professional is taking it a step further and offering microloans to startups with an approved business plan - and a lease in one of his properties.

The Buffalo News
By: Laszlo Meszaros
July 12, 2010

This spring, I watched 40 young and eager and high school students walk across the stage with a degree in entrepreneurship. With smiles on their faces, they participated in a business plan competition that capped off a rigorous 20-week entrepreneurship training program. In this day and age of disastrous economic conditions, these young people learned how to start their own businesses. In fact, some of these young people have already embarked on the path, creating businesses that sell every thing from musical instruments to snakes.

The New York Times
By: Prerna Gupta
July 11, 2010

Six years ago, fresh out of Stanford with a degree in economics, I had what many would consider the perfect job. I was a management consultant at a prestigious firm, with an office overlooking the San Francisco Bay and a shiny new ThinkPad to boot.

More poverty by any measure

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Lexington Herald Leader
By: Christine Vestal
July 11, 2010

It's not 1932 all over again. But new poverty figures to be published in September are expected to look grim.

The New Haven Register
By: James Tinley
July 10, 2010

MILFORD -- Just one day after the Planning and Zoning Board granted conditional approval for 26-28 manufactured houses to be placed on Heenan Drive, developer Louis D'Amato said he plans to fight the ruling in court.

States Shift to Hybrid Pensions

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The Wall Street Journal
By: Jeannette Neumann
July 10, 2010

Facing Shortfalls, Some Combine Guaranteed Plans With 401(k)-Like Options

State governments, one of the last bastions of guaranteed pensions, are increasingly taking a page from the 401(k) plans that dominate the private sector.

Des Moines Register
By: Lee Rood
July 12, 2010

Under state law, the manager of an Iowa City mobile home park who sold Rodney Macomber an abandoned trailer "as is" in 2005 should have given him the title as soon as it was paid off.

True/Slant
By: Megan Cottrell
July 8, 2010

The American social safety net is an all-or-nothing kind of deal. It's not a safety net designed to help you move up. It's one that's nearly guaranteed to keep you dependent.

The Chicago Tribune
By: Mary Ellen Podmolik
July 8, 2010

Cash-strapped, jobless and denied a loan modification, Del Phillips faced the same straits as millions of homeowners who risk losing their homes to mortgage lenders.

The New York Times
By: Sam Roberts
July 9, 2010

For the second time in the 11 months since Westchester County signed a landmark housing desegregation agreement, a federal monitor has rejected its plan to create hundreds of homes for moderate-income people in predominantly white communities.

Rockford Register Star
By: Betsy López Fritscher
July 9, 2010

Owners keep replacing old houses with newer, greener ones.

BELVIDERE -- Shirley and Mauritz Anderson revel in a community where updates are always on the horizon.

The Poor Always Pay

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Newsweek
By: Rana Foroohar
July 8, 2010

An Asian bank for low-income women is out to teach Wall Street a lesson.

It's pretty safe to say that three years ago no one could have predicted that one of the few financial institutions to be opening new branches and expanding lending in America would be a Bangladeshi bank that specialized in loans to people below the poverty line (the vast majority of them women). But that's just what has happened. Grameen America, the U.S. offshoot of the famous Asian microlending institution founded by Nobel laureate Muhammad Yunus, is now in its third year of operation in America, and even as the major banks, still battered from the financial crisis, are keeping credit tighter than ever, particularly to the small and midsize businesses that need it so desperately, Grameen is expanding. This summer, the little Bangladeshi bank--already operating in New York; Omaha; and Washington, D.C.--will move into its fourth U.S. city, San Francisco, fueled by a series of loans from institutions like Wells Fargo and Capital One that, aside from basking in the glow of good PR, have realized that they are more likely to get their money back by lending to African-American hairdressers in Queens or Latina food-cart operators in D.C. than by chucking money at middle-class whites who have bought more McMansion than they can afford.

Center for American Progress
By: Robin Chait and Cynthia G. Brown
July 8, 2010

Administration's Innovative Programs Shouldn't Be Cut

A number of the Obama administration's most promising education initiatives have come under attack in recent weeks as members of Congress have searched for ways to offset $10 billion in funding to prevent teacher layoffs. House Appropriations Committee Chairman David Obey (D-WI) offered an amendment to the supplemental appropriations bill to make significant cuts to the Race to the Top, or RTT ($500 million), the Teacher Incentive Fund, or TIF ($200 million), and the Charter Schools Program ($100 million) in order to help fund teachers' jobs. The amendment passed the House on July 1, and was a very unfortunate setback for education reform.

Latina Lista
By: Marisa Trevino
July 7, 2010

LAWRENCE -- Mr. and Mrs. Ricardo León and their three teenage children moved into their dream home, a 3-bedroom home complete with solar panels on the roof and energy efficient appliances. Mr. and Mrs. León are the proud owners of a Bread & Roses Housing, Inc. home located at 111 Park Street in Lawrence.

The Wall Street Journal
By: Martin Vaughan
July 7, 2010

An Internal Revenue Service watchdog warned Wednesday the paperwork burdens on small businesses may outweigh the benefit of tax collections generated as part of the new health-care law.

The Wall Street Journal
July 8, 2010

WASHINGTON (AP)--Applications for home loans rose last week as consumers raced to refinance at the lowest rates in decades.

PhysOrg
July 7, 2010

As the global financial meltdown has revealed, there is no shortage of people who fail to understand their own investments. Perhaps better financial literacy among the public would help many people avoid such poor decisions.

Country Life
By: Marianka Swain
July 6, 2010

The Commission for Rural Communities' (CRC) latest report has revealed that unemployment rose considerably faster in the countryside than in urban areas during the peak of the recession last year.

Charlotte Observer
By: Ann Doss Helms
July 7, 2010

Donors cover tuition at Charlotte Community School for Girls. All students are from low-income homes

Eleven-year-old Shayla Babcock can't wait to start at her new all-girls private school, where she'll do yoga, go camping and work on a laptop.

The Washington Post
By: Mae Anderson
July 7, 2010

Wal-Mart's Sam's Club chain is partnering with a lender to offer loans of up to $25,000 to its small-business members.

Contra Costa Times
By: Paul Burgarino
July 6, 2010

Antioch Troy Hess made a career of saving people and property. Now the Concord man hopes pending federal legislation will rescue his home from potential foreclosure.

The Washington Post
By: Margaret Collins
July 4, 2010

NEW YORK -- Almost half of U.S. companies that reduced or suspended their contributions to employee retirement plans during the recession haven't restored them, according to Towers Watson.

The New York Times
By: Stephanie Clifford
July 4, 2010

Tired of waiting for spending to rebound on its own, retailers are taking matters into their own hands. Stores like Sam's Club, Target, Toys "R" Us, Staples and Office Depot are offering unconventional promotions meant not only to attract visitors to stores, but also to get them feeling profligate.

The Wall Street Journal
By: Barbara Martinez
July 6, 2010

'Financial Literacy Is the Fourth "R"'

Misael Salas has learned a thing or two about hiring this year. For one, don't hire friends. Also, look for signs that a potential employee might be lazy. "You have to be careful who you pick," he said.

Los Angeles Times
By: Kathy M. Kristof
July 4, 2010

Programs in every state provide matching funds for the poor who put money away for expenses such as education, a home purchase or starting a business.

Dametria Williams started her financial life as a statistic -- a poor single mom, just like her mother and grandmother before her.

WBEZ 91.5
By: Lynn Morton and Natalie Moore
July 6, 2010

A group of mothers and grandmothers on Chicago's West Side is tackling an entrenched community problem: too few have assets they can tap if they hit on hard times. That can mean the difference between surviving a lay off, or slipping into poverty. The women are learning financial literacy and how to put more savings in the pot. Policy advocates see it as one way to narrow the wealth gap among whites and black and Latinos.

Indian Country Today
By: Mark Fogarty
July 6, 2010

The CDFI Fund of the United States Treasury has awarded more than $10 million to 45 groups in 19 states to facilitate community development, housing, and other economic development for American Indians.

High Point Enterprise
By: Pat Kimbrough
July 5, 2010

July 05--HIGH POINT -- For clients of the Guilford County Homeownership Center's Individual Development Account program, the goal isn't simply to find housing.

The Wall Street Journal
By: Sudeep Reddy
July 5, 2010

More than 400 pages of legislation detail the duties and powers of the Consumer Financial Protection Bureau that Congress is set to create. But the first director of the powerful new agency will play a critical role in determining how it works.

Microfinance Groups Think Big

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The Wall Street Journal
By: Joseph De Avila
July 5, 2010

Tight credit markets have slammed small businesses during the recession. That leaves entrepreneurs like Cecilia Aspiazu, who sells clothing and beauty products out of her home in Jamaica, Queens, increasingly turning to microloans.

The Washington Post
By: Kenneth R. Harney
July 3, 2010

With tougher mortgage underwriting rules a virtual certainty under Congress's financial reform legislation, lenders have begun confronting still another vexing issue: Can homebuyers who have high credit scores be trusted not to pull the plug -- strategically default -- when the economy hits a rough patch and home values tank?

Tweaks in Mobile-Home Loans

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The New York Times
By: Bob Tedeschi
July 4, 2010

MOBILE homes may not be a staple of the New York City housing market, but nationally last year they made up nearly a quarter of all new homes sold for less than $200,000, according to an industry trade group, making them an important component of the affordable-housing sector.

Student Loans Get a Makeover

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The Wall Street Journal
By: Jane J. Kim
July 3, 2010

Families shopping for student loans to help pay for college this fall could find it easier to get a federal loan--and will probably pay less, too--as new laws relegate private lenders to a smaller role. But securing a private loan could require more legwork.

The Wall Street Journal
By: Lisa Scherzer
July 1, 2010

Prospective home buyers are breathing a sigh of relief Thursday.

The Washington Post
By: Michael A. Fletcher
July 2, 2010

A poster-size replica of the cover of "The State of Working America" hangs behind Jared Bernstein's desk in the Eisenhower Executive Office Building, next to the White House.

The New York Times
By: Robb Mandelbaum
July 1, 2010

The small-business jobs bill now under consideration in the Senate is a hearty mélange of tax relief-provisions, loan-program enhancements and inducements, and changes to other government programs. Some are temporary modifications but others are permanent and far-reaching.

The Salt Lake Tribune
By: John Keahey
July 1, 2010

GE Capital, an international financial-services business, has picked Utah to showcase its pilot program "Banking on Women."

Albuquerque Journal
By: Ashley Bergen
July 1, 2010

The town of Estancia is appealing a March Municipal Court decision striking down a section of the town's planning and zoning ordinance that makes it illegal to bring in manufactured housing more than 10 years old.

The Washington Post
By: Lori Montgomery
July 1, 2010

The Senate failed once again late Wednesday to advance a plan to restore jobless benefits for people out of work more than six months, leaving millions of unemployed workers in limbo until after the July 4 recess.

The Wall Street Journal
By: Emily Maltby
July 1, 2010

A number of states have stepped in to help cash-strapped entrepreneurs get access to credit, primarily by providing incentives to banks to lend more.

The Wall Street Journal
By: Damian Paletta and Greg Hitt
July 1, 2010

The House agreed Wednesday to a sweeping rewrite of the nation's financial regulations, moving the initiative one step closer to becoming law.

Westside Gazette
June 30, 2010

The wealth gap between white and African-American families increased more than four times between 1984-2007, and middle-income white households now own far more wealth than high-income African Americans, according to an analysis released on Monday by the Institute on Assets and Social Policy (IASP) at Brandeis University.

The Huffington Post
By: Matt Fellowes
June 25, 2010

As the lessons of the mortgage crisis are studied by historians in the coming years, a significant and widely overlooked consequence that will no doubt emerge is how it's set back the economic mobility of minorities in this country by at least 20 years.

Mortgage Servicing News
By: Amilda Dymi
July 1, 2010

The national effort to create healthier financial habits among borrowers prompted by the foreclosure crisis is generating social-media-empowered solutions that are expected to help improve the level of financial literacy among Americans.

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