It May Get Easier to Sue Your Bank

October 13th, 2015 by Admin

It is currently very difficult for individuals to sue a financial institution because of an arbitration clause that appears in most contracts. This week, the Consumer Financial Protection Bureau (CFPB) announcedĀ it was considering a number of proposalsĀ to change that.

Many consumer financial product contracts, including those signed for student loans, credit cards, and bank accounts, contain language that requires any dispute between an individual and a company to be heard by an arbitrator instead of through the traditional court system. Generally, the language also bars consumers from joining together to file an arbitration claim or lawsuit against financial firms.

The CFPB...

Soupman Announces Restructuring of Its Senior Secured Debt, Settlement of …

October 13th, 2015 by Admin

NEW YORK, Oct. 9, 2015 (GLOBE NEWSWIRE) — Soupman, Inc. (OTCQB:SOUP), makers of the best-tasting soup in the world, announces that it has completed the restructuring of all of its senior secured debt. The Companys balance sheet will now reflect a total of $1 million of senior secured debt payable over three years bearing a 5% annual interest rate, with a balloon payment due upon maturity. The Company has also settled all litigation with its senior secured lender. Under the leadership of its new CEO, Jamieson Karson, the company is focused on further decreasing its liabilities and growing its distribution channels.

This restructuring is a significant step in relaunching...

I fear the 1% cut to my social housing rent will lead to poorer service

October 13th, 2015 by Admin

The government’s proposal to cut social housing rent by 1% a year for four years will come as a welcome change to council tenants used to above-inflation increases. However, what we gain in lower rent we will lose in a reduced service.

Under the new rents, in Swindon the housing revenue account (HRA) – which is made up of tenants’ rent and service charges – will lose more than pound;9m. The consequence will be a capital budget cut of around pound;2m a year, nearly 12%. This means scaling back on maintenance, and renewal of key components such as windows, kitchens and bathrooms.

While I’m not advocating a return to higher rents, there’s another...

Full Circle Capital Corp Downgraded by Zacks (FULL)

October 13th, 2015 by Admin

Shares of Full Circle Capital Corp (NASDAQ:FULL) traded up 0.33% on Friday, reaching $3.07. The companys stock had a trading volume of 8,158 shares. The stocks market cap is $71.33 million. The firms 50-day moving average price is $3.12 and its 200-day moving average price is $3.43. Full Circle Capital Corp has a 12 month low of $3.00 and a 12 month high of $6.23.

Full Circle Capital Corp (NASDAQ:FULL) last released its quarterly earnings results on Monday, September 14th. The investment management company reported $0.11 earnings per share for the quarter, meeting the Thomson Reuters consensus estimate of $0.11. On average, analysts forecast that Full Circle Capital Corp will post...

Alternative Online Lenders: Will One of These Vouch for You?

October 12th, 2015 by Admin

“Banking is a funny business,” says the Motley Fool. “When the economy is doing well, it can be pretty easy to get a loan. Conversely, when the economy hits a speed bump, banks don’t hesitate to close off the spigot and stop lending, even to the strongest borrowers.”

So, given that the economy is in full-swing recovery, it should be easy for your business to get a loan, right?

Not necessarily.

There are any number of reasons why your business loan might not get approved, regardless of the state of the economy. According to, the five chief reasons are:

  • Bad credit history (even a single missed payment constitutes one)
  • Insufficient...

Kearny Financial (NASDAQ:KRNY) Analyst Price Target

October 12th, 2015 by Admin

Kearny Financial (NASDAQ:KRNY) rose 0.88% or 0.1 points on Monday and made its way into the gainers of the day. After trading began at $11.45 the stock was seen hitting $11.57 as a peak level and $11.44 as the lowest level. The stock ended up at $11.5. The daily volume was measured at 372,199 shares. The 52-week high of the share price is $14.98 and the 52-week low is $10.57. The company has a market cap of $1,076 million.

The company shares have rallied 18.77% in the past 52 Weeks. On May 15, 2015 The shares registered one year high of $14.9 and one year low was seen on October 13, 2014 at $9.15. The 50-day moving average is $11.44 and the 200 day moving average is recorded at $10.93....

Fitch Affirms Standard Chartered Bank Korea at ‘AA-‘; Outlook Negative

October 12th, 2015 by Admin

(The following statement was released by the rating agency)
SEOUL, October 07 (Fitch) Fitch Ratings has today affirmed the
Foreign-Currency Issuer Default Rating (IDR) on Standard
Chartered Bank Korea
Limited (SCBK) at AA-. The Outlook remains Negative. At the
same time, Fitch
has affirmed the Viability Rating at bbb. A full list of
rating actions is at
the end of this rating action commentary.
The banks IDRs and Support Rating reflect Fitchs continued
belief of an
extremely high probability that its parent Standard Chartered
Bank (SCB;
AA-/Negative) will provide extraordinary...

MSU professor named Mercatus Visiting Scholar

October 11th, 2015 by Admin

Contact: Zack Plair

STARKVILLE, Miss.– A Mississippi State University finance professor has an opportunity for his research to inform public policy decisions on consumer finance.

Thomas W. Miller Jr., holder of the Jack R. Lee Chair in Financial Institutions and Consumer Finance, has been named a Visiting Scholar with the Mercatus Center at George Mason University in Arlington, Virginia.

The Mercatus Center is the world’s premier university source for market-oriented ideas–bridging the gap between academic ideas and real-world problems. Working with the center’s Financial Markets Working Group, Miller will research small dollar loans for high...

Unsecured loans fall in Kazakhstan

October 11th, 2015 by Admin

Baku, Azerbaijan, Sept. 29

By Elena Kosolapova Trend:

Unsecured loans fell by 2.2 percent in Kazakhstan in June-September 2015, according to the analytical service.

The weighted average effective interest rate on unsecured loans market in September amounted to 27.26 percent compared to 29.43 percent in June, said the message.

In total, 21 banks operate on the unsecured loans market in Kazakhstan, and 39 proposals were submitted.

The rates reduction is observed in six second-tier banks (8 proposals). The largest decline occurred in the ATF Bank a 16.19 percent decline (the current rate starting from 17.1 percent), followed by VTB, a 14.72 percent...

It’s raining handouts in poll-bound Bihar

October 10th, 2015 by Admin

Theres something for everybody, paid for by somebody else. Nitish Kumar insists all of it is for Bihar. Perhaps it is because lsquo;baharis wont get to partake of the feast he promises. But how does any of it transform the State?

Patna: Its election time in Bihar and its raining manna from heaven. At least promises by the score and more; whether politicians seeking votes keep their word or not shall be known only after the next Government is formed. At the moment, for us lsquo;baharis, as we non-Biharis have been described by Chief Minister Nitish Kumar, it is anybodys guess as to whether the rather tall promises will be kept. For those who (not all of them Biharis) get to decide...