October 13th, 2011
Banks have been gambling with your money, but a new piece of legislation is trying to stop them.
It’s called the Volcker Rule, named for economist and former U.S. Federal Reserve Chairman Paul Volcker. The rule, which is part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, restricts banks from making certain investments that do not benefit their customers, also known as speculative investments.
Many economists, especially Volcker himself, argue that these speculative investments, which include risky mortgage-backed securities, helped fuel the credit crisis of 2008. After being appointed as the chair of the President’s Economic Advisory Board in February 2009, Volcker began working with the board to advise the administration on economic recovery concerns. The Volcker Rule is a part of that work.
August 18th, 2011
If anybody knows how to weather the storms of financial crisis, it’s Amy Gatliff.
When she was young, her family lived on a school bus while her father built the family home. When the home was livable, they moved in. The house lacked indoor plumbing, so the family had to get creative. “When it came time for a bath, we kids would stand on the side porch steps in our underclothes for Mom to wash us down,” Amy describes.
August 4th, 2011
How do you bounce back from a foreclosure and bankruptcy?
That’s what we asked Brandiann Portillo, a 27-year-old stay at home mom. She’s come a long way, and shared her story with Credit Karma.
March 15th, 2011
When you’re in dire straits with a home foreclosure notification in hand and no means to pay your mortgage, you might have another way out, MSNBC reports.
Filing for bankruptcy may allow you to keep your home if the court can work out a payment plan with the lenders. But does that mean bankruptcy is best for you?
June 2nd, 2010
September 30th, 2009
December 18th, 2008
December 9th, 2008