March 2013 Archives

Mortgage rescue plan is detailed

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The Chicago Tribune
By:  Mary Ellen Podmolik
March 28, 2013

The overseer of Fannie Mae and Freddie Mac is directing mortgage loan servicers this summer to begin offering a simplified mortgage modification to some struggling borrowers whose loans are backed by the two enterprises.

The Express-Times
By: Lynn Olanoff
March 26, 2013

Residents of an East Allen Township manufactured home community are seeking greater protection from rising land rents.

The Fiscal Times
By:  Robert Frank
March 26, 2013

The gap between the wealthy and the rest of America is a hot-button issue in Washington-especially in the White House and Congress. And especially during battles over taxes.

American banker
By:  Andy Peters
March 27, 2013

More community banks are preparing to fight payday lenders and technology upstarts for a bigger share of short-term, small-dollar loans.

The Chronicle of Philanthropy (CFED)
By:  Nicole Wallace
March 24, 2013

Ashana Ward has made a lot of changes lately. The Head Start teacher has crafted a budget, cut back on spending, and is looking for a better paying job. The changes are all in service to a big goal: to buy her own home.

Pittsburgh Post-Gazette
By:  Eleanor Chute
March 27, 2013

Amber Webb of Duquesne has good intentions about saving for college for her 9-year-old daughter, RaSona Howard.

The Washington Post (CFED)
By:  Katherine Boyle
March 26, 2013

They say all art is imitation. According to a little-known Greek legend, the philosopher Plato said it first, after recognizing man's image in the marshmallow bunnies and chicks that sprouted up around Athens each spring.

The New York Times
By:  Steven Greenhouse
March 23, 2013

SOON after landing a job at a Manhattan law firm nearly 20 years ago, Sara Horowitz was shocked to discover that it planned to treat her not as an employee, but as an independent contractor.

The New York Times
By: Bruce Bartlett
March 26, 2013

In a recent post, I examined aggregate national wealth from the Federal Reserve Board's flow of funds statistics. They show that while national wealth is now approximately back to its precrisis level, the composition of it has changed. Much more is now held in the form of such financial assets as stocks and much less in nonfinancial forms such as housing. This is important, economically and distributionally, because the wealthy are much more likely to be invested in stocks and bonds, while the middle class has more of its wealth in home equity.

The Atlanta Journal-Constitution
By:  Nedra Rhone
March 25, 2013

On occasion, I reach into my coin purse only to discover it holds no coins. My 2-year-old has the habit of taking my spare change and putting it in the "piggy." Sometimes I wish I could keep my change, but then I think, it's a small price to put my toddler on the road to financial literacy.

The Vindicator (Ohio)
By:  Anna Tultz
March 22, 2013

When it comes to payday-lending businesses and their practices, voters and judges like to just say no.

The New York Times
By:  Gretchen Morgenson
March 23, 2013

IN a perfect world, policy makers, legislators and concerned Americans would have spent the last few years conducting an honest dialogue about two important issues: how to resolve Fannie Mae and Freddie Mac, the government-owned mortgage finance giants, and how to create a housing finance system that would serve borrowers without imperiling taxpayers.

The Credit-History Pariah Class

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The New York Times
By:  The Editorial Board
March 24, 2013

Research has shown that someone with a poor credit history is not automatically a poor job prospect. Nevertheless, millions of Americans who have emerged from the recession with medical debts or a record of late payments are at risk of being denied jobs by companies that use credit histories to screen applicants. Several states have placed limits on this practice. But until the federal government engages the issue more aggressively, employers will consign otherwise qualified applicants to a kind of pariah class that gets shut out of the job market.

American Banker
By:  Charles G. Cooper
March 21, 2013

Access to basic banking services allows individuals and families to build a solid financial foundation by safely granting the opportunity to conduct transactions, save, borrow, and invest.  But, according to the 2011 Federal Deposit Insurance Corp. National Survey of Unbanked and Underbanked Households, more than 34 million Americans lack access to banks or are not fully participating in the mainstream financial system. 

The Washington Post
By:  Neil Irwin
March 19, 2013

Here are two numbers that anybody who wants to understand the job market should look at: Builders started work on 27.7 percent more homes in February than they did a year earlier. Yet the number of construction jobs in the United States was only 2.9 percent higher, year-over-year.

The Washington Post
By:  Lyndsey Layton
March 21, 2013

In Poplar, Mont. -- The public schools on the isolated, windswept Fort Peck Indian reservation here are at the frontier of the federal sequester, among the first to struggle with budget cuts sweeping west from Washington.

The New York Times
By:  Jessica Silver-Greenberg
March 21, 2013

Some of the nation's largest banks continue to offer payday loans, pitched as advances on direct-deposit paychecks, despite growing regulatory scrutiny and mounting criticism about the short-term, high-cost loans.

Reuters
By:  Ryan McCarthy
March 21, 2013

We've heard about rising income inequality for years -- it's become a post-recession rallying cry. Even Jamie Dimon seems to think inequality is bad.  

The Washington Post
By:  Danielle Douglas
March 21, 2013

Some of the nation's largest banks are providing short-term loans with interest rates of up to 300 percent, driving borrowers into a cycle of debt, according to a new report from the Center for Responsible Lending.

Deterring Predatory Lending

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The New York Times
By:  The Editorial Board
March 20, 2013

JPMorgan Chase has instituted new policies intended to shield customers from predatory lenders who can charge 500 percent interest or more and who drain the borrower's bank account through automatic withdrawals.

CNNMoney
By:  Nin-Hai Tseng
March 20, 2013

As America's housing market slowly heals, good news is pouring in from homebuilders: They're building more; they're hiring more workers; they're building bigger houses.

Forbes
By:  Rick Ungar
March 19, 2013

The Employee Benefits Research Institute (EBRI) has today released its report highlighting the intense state of insecurity American workers are experiencing as they look forward--with ever increasing trepidation--to a retirement without sufficient money to see them through.

The New York Times
By:  David Leonhardt
March 16, 2013

Most low-income students who have top test scores and grades do not even apply to the nation's best colleges, according to a new analysis of every high school student who took the SAT in a recent year.

The New York Times
By:  Annie Lowrey
March 14, 2013

Pearl Brady has a stable job with good benefits and holds two degrees, a bachelor's and a master's. But despite her best efforts, she has no savings, and worries that it will be years before she manages to start putting away money for a house, children and eventually retirement.

The Los Angeles Times
By:  David Horsey
March 13, 2013

Both Republicans and Democrats say concern about the middle class is at the heart of the ongoing, vituperative debate over taxes, entitlements and fiscal discipline, but the political spat never seems to honestly address the gaping and growing class divide in the United States. As politicians in Washington slam one another over competing budget priorities, most avoid facing up to the disturbing question behind all the numbers: Is the American Dream temporarily stalled or permanently kaput?

The Washington Post
By:  Michelle Singletary
March 12, 2013

It's always good to have supporting documentation to back up the conventional wisdom.

Using data collected during the Great Recession, the FINRA Investor Education Foundation has produced some compelling evidence of what happens to people who don't have a rainy day fund for emergencies.

Wealth, Spending and the Economy

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The New York Times
By:  Bruce Bartlett
March 12, 2013

The Federal Reserve Board last week released the latest data on national wealth. Economists were gratified to see that the net worth of Americans is very nearly back -- less of a tenth of 1 percent -- to where it was before the 2007 crash. At the end of that year and at the end of 2012, net national wealth was just over $66.1 trillion. The rising stock and housing markets are the primary reasons, but so is the decline in debt, which is down $822 billion since 2007.

Black Voice News
By:  Charlene Crowell
March 12, 2013

As long as most of us can remember, Black communities have taught and believed that a college education is the key to social and economic advancement. But according to a new research and policy brief by Brandeis University scholars, that long-held belief is only one of several factors affecting Black America's ability to build wealth.

Time
By:  Dan Kadlec
March 12, 2013

In coming weeks and months, a new set of standards for financial literacy will cross the desks of educators across the country. The hope is that schools will embrace these guideposts and begin to wedge money lessons into students' daily activities.

Time
By:  Dan Kadlec
March 12, 2013

In coming weeks and months, a new set of standards for financial literacy will cross the desks of educators across the country. The hope is that schools will embrace these guideposts and begin to wedge money lessons into students' daily activities.

Credit Union Times (South Carolina; CFED)
By:  Candice Reed
March 8, 2013

As they say down South, South Carolina's credit unions are "Forty goin' north." Translation: To do something with great gusto and enthusiasm.

The Washington Post
By:  Michael A. Fletcher
March 10, 2013

ST. JOHNS COUNTY, Fla. -- This prosperous community is the picture of the good and ever longer life -- just what policymakers have in mind when they say that raising the eligibility age for Social Security and Medicare is a fair way to rein in the nation's troublesome debt.

The Fiscal Times
By:  Suzanne McGee
March 12, 2013

What's the difference between stocks and bonds?

When I started asking the question, it was only idle curiosity. I assumed that anyone who was interested enough in the world of finance to sign up for a course I taught entitled "Wall Street 101" would have a working knowledge of the basic concepts. So, I calculated, perhaps three-quarters of the well-educated 20- and 30-something New Yorkers who tended to be in my three-hour classes would feel comfortable explaining what made a stock a stock, and why it was different from a bond.

A Broken Ladder

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National Journal
By:  Ronald Brownstein
March 7, 2013

Since the seminal federal study "A Nation at Risk" launched the modern educational-reform movement in 1983, America's K-12 schools have faced persistent pressure for greater accountability and improved results. The reforms have been imperfect and the outcomes uneven, but the irreversible direction has been toward stiffening both expectations and consequences for what students achieve from elementary grades through high school.

The New York Times
By:  Katherine S. Newman
March 9, 2013

Debates over the fairness of the tax code are as old as the federal income tax itself. A cornerstone of the tax -- established a century ago, by the 16th Amendment -- has been the principle that those who make more should pay more, while lower tax rates help the poor to support their families and depend less on government benefits.

Boston Business Journal (CFED)
By:  Mary Moore
March 8, 2013

Massachusetts ranks at the bottom compared to other states in the rate of homeownership by people of color, according to data recently released by a think tank in Washington.

Post and Courier (Charleston, South Carolina; CFED)
By:  Sara Hummel Rajca, Lowell Atkinson and Marjorie Palmer
March 9, 2013

An economic divide grew when freeways such as I-95 and I-85 zipped through the state, routing drivers quickly through rural areas and on to their destinations, taking with them their revenue. We need to get people back to these rural areas and investing in communities once again. 
Great Falls Tribune (Montana)
By:  Karl Puckett
March 3, 2013

In the fall of 2009, residents, who make an average of less than $20,000 a year, formed a not-for-profit cooperative in order to buy the park. A purchase is now pending. And in 2012, they formed a water and sewer district in order to replace the park's outdated water and sewer infrastructure.

24/7 Wall St.
March 5, 2013

Over one in four American households do not to have enough to survive three months if they lost their regular income.

The New York Times
By:  Annie Lowrey
March 3, 2013

WASHINGTON -- The $85 billion in automatic cuts working their way through the federal budget spare many programs that aid the poorest and most vulnerable Americans, including the Children's Health Insurance Program and food stamps.

Cry About the Real Wolf

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The New York Times
By:  Charles M. Blow
March 6, 2013

The White House horribly botched its messaging on the sequester.

The Obama administration desperately wanted to define the sequester's immediate job casualties and calamitous disruptions.

Bloomberg
By:  Janet Lorin
March 7, 2013

Octavio Brindis thought he had it made when he won a scholarship funded by Microsoft Corp. founder Bill Gates to help him go to college tuition-free.

About this Archive

This page is an archive of entries from March 2013 listed from newest to oldest.

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