3 Money Mistakes That Can Torpedo Your Marriage

October 25th, 2014 by Admin

As if discovering the love of your life is messier than you thought, doesn’t really love jazzor is chronically late weren’t enough, couplesalso have to find ways to deal with differing financial habits — from the merely annoying (sending dollar bills through the laundry) to the serious (hiding debt).

The good news is more couples are getting a running start at understanding how the other person deals with money. Money coach and author Gail Perry-Mason said that when she was younger, people wanted to know what a potential partner’s astrological sign was, not what their credit profile looked like. Today, bad credit can limit your appeal with a prospective mate.

Perry-Mason...

Generation Gap: How Your Age Affects How You Use Credit Cards

October 25th, 2014 by Admin

This country is billions of dollars in debt to the credit card lenders, which is a staggering number. How do you get to a point where the majority of Americans have over $10,000 in credit card debt? Who is to blame? A glimpse into the generational divide helps shed some light on the situation.

In a recent poll we conducted with around 3,000 of our readers, we asked the different generations about their relationship with their credit cards. Heres what we found:

Millennials: The youngest generation tends to understand less of how credit cards work, but they are smarter about not taking on too much credit (they generally only have 1-2 credit cards) and are more diligent about...

C&F Financial Corporation Announces Third Quarter Financial Results

October 25th, 2014 by Admin

WEST POINT, Va., Oct. 23, 2014 (GLOBE NEWSWIRE) — Camp;F Financial Corporation (Nasdaq:CFFI), the one-bank holding company for Camp;F Bank (or the Bank), today reported net income of $3.3 million for the third quarter of 2014, or $0.96 per common share assuming dilution, compared with $3.4 million, or $0.97 per common share assuming dilution, for the third quarter of 2013. The corporation reported net income of $9.9 million for the first nine months of 2014, or $2.88 per common share assuming dilution, compared with $11.6 million, or $3.37 per common share assuming dilution, for the first nine months of 2013.

For the third quarter of 2014, the corporations return on average...

Miss a Payment? Good Luck Moving That Car

October 25th, 2014 by Admin

From his office outside New Orleans, Mr. Vead can monitor the movements of about 880 subprime borrowers on a computerized map that shows the location of their cars with a red marker. Mr. Vead can spot drivers who have fallen behind on their payments and remotely disable their vehicles on his computer or mobile phone.

The devices are reshaping how people like Mr. Vead collect on debts. He can quickly locate the collateral without relying on a repo man to hunt down delinquent borrowers.

Gone are the days when Mr. Vead, a debt collector for nearly 20 years, had to hire someone to scour neighborhoods for cars belonging to delinquent borrowers. Sometimes locating one could take years....

Fitch Rates Simon Property Group, LP’s CP Program ‘F1′; Outlook Stable

October 25th, 2014 by Admin

NEW YORK Fitch Ratings has assigned a short-term Issuer Default Rating (IDR) of F1 to Simon Property Group, LP, the operating partnership of Simon Property Group, Inc. (NYSE: SPG or the company). In addition, Fitch has assigned short-term ratings of F1 to Simon Property Group, LP and Simon CP 2s $500 million commercial paper (CP) note program. Simon Property Group, LP and Simon CP 2 (together Simon Property Group) are the issuers of the CP paper, which has a maximum term of 379 days for the US notes (USCP notes) and 183 days for the Euro notes (ECP notes). Simon Property Group, LP guarantees the obligations of Simon CP 2.

On Oct. 7, 2014 SPG announced that under its global...

BRIEF-Industrial Bank, partners get approval to set up consumer finance firm …

October 24th, 2014 by Admin

n>Oct 20 (Reuters) – Industrial Bank Co Ltd

* Says it and partners get approval to set up a consumer
finance company in Fujian province with registered capital of
300 million yuan (48.99 million US dollar)

Source text in Chinese: bit.ly/10d7LaK

Further company coverage:

(1 US dollar = 6.1233 Chinese yuan)

(Reporting by Hong Kong and Singapore newsrooms)

Potential Impact Of CFPB’s Proposed Auto Lender Rule

October 24th, 2014 by Admin




Law360, New York (October 14, 2014, 10:22 AM ET) — On Sept. 17, the Consumer Financial Protection Bureau proposed to include certain nonbank automobile lenders within the definition of the term larger participants.[1] Under the proposed rule, any company engaging in more than 10,000 consumer auto loan or lease transactions (ie, originations, refinancingsor acquisitions) per year will be classified as a larger participant subject to direct CFPB supervision.[2] The supervision will include on-site...

Addressing the Student Debt Crisis: We Can Do More to Encourage …

October 24th, 2014 by Admin

We are all aware of the growing student loan crisis — $1.2 trillion in student loans, alarming default rates and average debt amounts rising every year. While Washington is working to find ways to alleviate the burden of staggering student debt, and some institutions are experimenting with innovative ways — like competency-based education — to make college more affordable, we must also do more to encourage responsible borrowing.

Colleges and universities need to take the lead on this, and while there are some government restrictions on what we can do, there are some relatively simple things we can do that can make a real difference. The Responsible Borrowing Initiative...

Private Student Loan Debt: Overlooked 411

October 24th, 2014 by Admin

As higher education costs soar, the number of prospective students turning toward private student loans instead of or in addition to federal loans is likewise escalating.

In considering what loan options are best, many factors come into play. The professional opinions regarding federal versus private loans are conflicting, predictably with StudentAid.ed.gov urging students to only apply for federal loans, while lenders in the private sector highlight the advantages of private student loans.

Even if you are a proponent of federal over private loans, what happens when federal student aid runs out? The price of college has not decreased. Students need higher education to find...

Consumer Finance Update: CFPB Proposes Update To The TILA-RESPA …

October 23rd, 2014 by Admin

On October 10, 2014, the US Consumer Financial Protection Bureau
(CFPB) issued a proposed rule (Proposal) to
amend the TILA-RESPA Integrated Mortgage Disclosure Rule
(Final Rule), which takes effect on August 1, 2015. The
CFPB proposed to make two modifications to the Final Rule: (1) an
adjustment to the timing requirement for when a revised Loan
Estimate is required to be provided when the consumer locks an
interest rate, from the same business day of the rate lock to the
next business day; and (2) an amendment to provide a space on the
Loan Estimate for language to be included related to construction
loans. Additionally, the CFPB is proposing certain...