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Personal Finance
(27-04-2011) |
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Reuters - Republican Mitt Romney revised his proposal for overhauling the U.S. tax code on Wednesday, calling for all individual tax rates to be cut by 20 percent while declining to offer specifics on how to make up the lost revenue from lower rates.
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Reuters - JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and more than a half dozen other major banks are being hit with a new lawsuit over $949 million in residential mortgage-backed securities.
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AP - The government's new consumer-watchdog agency is launching a probe into costly overdraft fees charged by big banks.
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Reuters - Applications for U.S. home mortgages tumbled last week as demand for loan refinancing sagged, an industry group said on Wednesday.
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Reuters - The Obama administration will propose slashing the top income tax rate for corporations to 28 percent from the current 35 percent, as part of a corporate tax reform plan that is set to be announced on Wednesday, the Wall Street Journal said.
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Reuters - A government watchdog on Wednesday said Fannie Mae and Freddie Mac's regulator needs to curtail the rising cost of their legal expenses since there is no end in sight to the widening taxpayer tab keeping the two firms afloat.
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AP - The U.S. government regulator for Fannie Mae and Freddie Mac must do a better job limiting legal expenses paid by the two mortgage giants to their former executives facing lawsuits, a new watchdog report says.
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AP - Sophisticated encryption software has become so readily available and so effective, it's surpassed the federal government's ability to seize computers and gather evidence in criminal cases.
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 Reuters - The regulator of housing giants Fannie Mae and Freddie Mac on Tuesday outlined a new strategic plan for the two government-controlled firms, stepping into a void left by congressional inaction.
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The Motley Fool - In a 2009 NBC/Wall Street Journal poll, 8 in 10 Americans said they were concerned about the federal deficit and growing national debt.
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AP - The government regulator for Fannie Mae and Freddie Mac has submitted a plan to Congress that would shrink the mortgage giants' role in the housing market.
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Reuters - The European Central Bank will lend nearly half a trillion euros to banks at rock-bottom rates next week through its three-year refinancing operation, despite signs institutions already have adequate liquidity, Reuters polls showed on Monday.
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Reuters - It wasn't Sherry Hunt's original intent to go public on the shoddy quality control at a mortgage unit at Citigroup Inc , her employer since 2004.
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ContributorNetwork - Politico reports Rick Santorum has released four years' worth of federal income tax returns. The news outlet posted all four returns as PDF files for anyone to examine from 2007 to 2010. It was noted that Santorum released four years of income tax data, more than competitors Mitt Romney and Newt Gingrich.
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 AP - Optimism has returned to the market. And the clearest evidence is the rebound of small company stocks.
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AP - The number of Americans at risk of foreclosure is declining, as more homeowners climb out of debt and find steady work.
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AP - The average rate on the 30-year fixed mortgage held steady at a record low for a third straight week, offering more incentive to those looking to buy a home or refinance.
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AP - Mortgage rates for the past 52 weeks, at a glance
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 AP - Construction of single-family homes cooled off slightly in January after surging in the final month last year. But a rise in permits suggests builders are growing more confident that more buyers are ready to come off the sidelines.
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Reuters - Citigroup Inc has agreed to pay $158.3 million to settle U.S. civil claims that it defrauded the government into insuring thousands of risky home loans made by its CitiMortgage unit.
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