On Monday, a group of institutional investors sued Countrywide and Bank of America over Countrywide’s mortgages practices. The bank is accused of issuing vast numbers of loans using methods that went beyond lax standards and in…
After an exhaustive examination, DailyFinance’s legal reporter comes to a clear verdict. Banks have done three things to create the massive glut of foreclosures choking America’s legal systems and laying waste to its real estat…
When some new members of Congress recently said they oppose raising the U.S. debt limit, it triggered warnings of “catastrophic consequences.” Indeed, the result wouldn’t be pretty. But here’s what’s at stake as the country’s d…
The Treasury Department is launching a pilot program to deliver tax refunds via prepaid debit cards rather than checks.
The plan aims to cut down on the administrative costs associated with checks and to help lower-income taxpayers without bank accou…
The Federal Reserve is doling out billions to buy bonds in hopes of keeping interest rates low and stimulating the economy. However, several powerful forces are working against that low-rate strategy, ranging from investor psyc…