Congress Sends Obama Legislation on Credit Card Reform

Archive for May, 2009

Congress Sends Obama Legislation on Credit Card Reform

Congress has sent a bill to regulate how credit card companies raise cardholder interest rates and charge fees onto President Barack Obama for his signature. Find out more about the details of the bill in this background report. (4 hours ago)

Library petition valid

MASON CITY A three-member review panel ruled Monday night that a petition seeking a public vote on $700,000 for the public library is valid. (20 mins ago)

EXCLUSIVE: Treasury Delays Selection of PPIP Fund Managers

The Treasury Department has delayed until early June naming the initial investment managers for its pending program to purchase securities backed by toxic assets from banks in partnership with private investors, according to a new government document. (2 hours ago)

For the Wealthy, Evolving in a Recession

Worth magazine plans to keep personal finance coverage, with articles on the pitfalls of philanthropy or interesting investment vehicles, but make itself more luxe. (22 mins ago)

Financial literacy programs skeletal in public education

When Apple Valley High School economics teacher Evan Williams asks his senior students early in the school year if they’ve heard of a 401 plan, nearly every hand shoots up. When he prods them to explain what it is, all the hands go down but one or (36 mins ago)

Market Winners & Losers: Nordstrom, Dynegy

The last day of the week ended on a down note as the major indices closed in the red. The Dow dropped 3.6%, the S&P lost 5% and the Nasdaq fell 3.4%. (23 mins ago)

Scottish financial sector holds up

As 560 employees at insurer Legal & General this week became the latest casualties of the recession, it appeared to underline that Scotland is yet to suffer the predicted financial sector meltdown, though worse may still be ahead. (58 mins ago)

Sainsbury aiming to expand as profits rise 11.3%

J Sainsbury chief executive Justin King is to speed up the company’s expansion as he seeks to prove to investors that its success in maintaining growth during the consumer slowdown can be extended. (25 mins ago)

Money 911: Budgeting your kids’ education

TODAY’s financial editor Jean Chatzky, CNBC personal finance correspondent Sharon Epperson and CNBC’s On the Money anchor Carmen Wong Ulrich offer viewers smart financial advice. (11 mins ago)

Retirement Living: New milestone reached in pensions’ slow death

More than half of Fortune 100 companies now offer only a 401 or other defined-contribution plan to new employees, the first time a majority of the nation’s 100 largest firms does not offer a traditional pension, according to an annual survey by consulting firm Watson Wyatt. (44 mins ago)