Monthly Archives: November 2010

President’s Advisory Council on Financial Capability Convenes First Meeting

The President’s Advisory Council on Financial Capability convened its first meeting today. Council members discussed the launch of a national financial literacy strategy, coordination between the public and private sector, ways to maximize effectiveness, and ways to increase financial capability. Continue reading

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Protecting the Elderly from Financial Exploitation

Seniors save a lifetime to build a nest egg. The Financial Services Roundtable wants to help them protect it from financial exploitation. Continue reading

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Roundtable Publishes “Systemic Risk Implementation”

The Anthony T. Cluff Fund of the Financial Services Roundtable today published a report to provide guidance to the newly created Financial Stability Oversight Council and Office of Financial Research. Continue reading

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Fast Facts on Jobs and Trade

As President Obama pushes for new trade agreements at the G-20 summit, we thought this would be a good time to share some information about the importance role trade plays in our nation’s economy. Continue reading

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Financial Literacy for College Students

What do most students wish they learned in college? Maybe its “how do I repay my student loans?” A recent Moneywatch.con article found that students are not learning as much as they need to know about personal finance. Meanwhile, student loans outstanding have surpassed total credit card debt, an important flashpoint in our economy. In other words, at the same time that their financial situation requires them to know, students have not learned the ABCs about the 1,2,3s. Continue reading

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Federal Reserve Report: Banks increasing access to loans

Good news: The Federal Reserve confirms that banks are increasing access to loans for consumers and businesses. According to the just-released Federal Reserve’s most recent Senior Loan Officer Survey, in the third quarter of 2010, large banks made it easier to receive a loan in nearly every category of borrowing. Continue reading

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More to the mortgage story

The New York Times on Monday ran a piece by Yves Smith that unfortunately tells only a small part of the story when it comes to mortgages.

For example, Smith neglects to explain that, while the vast majority of homeowners in the United States are current on their mortgages, the foreclosures he rails against are happening to people who have not made any monthly payments for as long as two years. Continue reading

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S&P Report: Improved Lending Standards Make Sense

What is responsible for the current mortgage situation? As this Financial Times article points out, “Homeowners with little equity are more than twice as likely to fall behind on mortgage payments than those who put down at least a quarter of the purchase price.” Continue reading

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Financial institutions will continue to support small businesses

The financial services industry continues to support efforts to promote financial stability and economic recovery. As a recent Wall Street Journal article shows, lending to small business are increasing. Continue reading

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The 2010 Election and Financial Services

1. This was, in fact, the “wave” election that many were predicting. Because of that, we should expect changes in Washington.
2. Washington is still a two-party town, but the smaller majorities in the House and Senate over the next two years means that neither party is in control. As a result, any legislative policy change will require a bi-partisan approach or it won’t happen. Continue reading

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