Finance

European Union agrees to lend Euro 86 billion to Greece

European Union finance chiefs have agreed to lend _86 billion to Greece on strict bailout conditions. Greek Prime Minister and his cabinet have agreed to strict conditions imposed by the European leaders despite the protests faced by the government in Greece. Greece was under tremendous pressure... read more

IRS’ ‘Get Transcript’ Program Compromised, Hackers Gain Access to 100,000 tax accounts

On Tuesday, the Internal Revenue Service came out with the revelation that from February through mid-May, hackers used stolen data to gain access to past tax returns of more than 100,000 people.

The hackers initially had their eyes on 200,000 tax accounts. However, only half of the... read more

Fannie Mae posts $1.9B profit in first quarter

Mortgage giant Fannie Mae has reported net income of $1.9 billion for the first quarter. The net income was sharply down from the same period a year ago because of the lower fee income and larger losses on investments used to hedge against swings in interest rates.

Thursday’s results for... read more

Case launches most Secure Hardware Bitcoin Wallets

Over the past few years, Bitcoin exchange based in Tokyo Mt.Gox suffered from serious security breaches. Along with Mt.Gox, Bitstamp and a number of other centralized services experienced breaches in last few years. Case is aware of the breaches and it has decided to end all this. It has built... read more

File Income Tax Return before April 15 deadline to avoid penalties

The April 15 deadline for Tax filing is approaching fast and many taxpayers leave it till the last week. IRS data suggested that 67 percent of taxpayers have filed their income tax return. For taxpayers filing paper return, the queues at the tax offices will be long during the week. Many... read more

IRS audit cases low due to staff shortage

IRS is auditing less number of wealthy individuals due to staff constraints after the budget was cut for the Federal tax agency. During the last three years, the chances of being audited have declined by 23 percent for an average taxpayer. The last year data marks the lowest number of taxpayers... read more

Filing Income Tax Return before April 15 deadline

Tax filing season is back and with April 15 deadline fast approaching, many procrastinators might getting nervous about filing IRS return. Many people are filing tax returns online and this has helped in quick disbursal of tax refunds. However, taxpayers should be aware of the tax frauds and... read more

U.S. Consumer Watchdog will regulate payday loans

Payday loan providers will be under new regulations according to a statement issued by U.S. Consumer Financial Protection Bureau. The new framework will ensure that borrowers are not trapped in debt cycle and pay exorbitant interest rates.

The U.S. consumer financial watchdog director... read more

Federal Reserve: No evidence of deliberate leaks from 2012 meeting

Federal Reserve has concluded after an investigation that the market-sensitive information that leaked about policy meeting in September 2012 was not deliberate. The leak happened during the tenure of Federal Reserve ex-chairman Ben Bernanke. The probe started in October 2012 and was completed... read more

New FICO Scoring Model Could Improve Credit Score for Millions

Personal Credit Score Provider FICO has introduced new rules for assessment of credit score. The new rules would improve the credit scores for millions of people and will help them in easier access to credit. The lenders will also benefit from the new system as the risk assessment will be better... read more

California to get $200 million as part of Citigroup’s $7 billion mortgage settlement

California will receive a share of the roughly $7 billion that Citigroup has agreed to pay to settle federal claims regarding the sale of toxic mortgages during the housing boom ahead of the 2008 economic crisis.

Reaching a settlement with the U. S. Department of Justice and five states,... read more

JPMorgan hires former UBS executive as China head

JPMorgan Chase & Co. has announced UBS AG's former China Chairman David Li as the next chief of its Chinese operations.

Marie Cheung, Hong Kong-based spokeswoman for JPMorgan, said Li would be responsible for the biggest U. S. lender's businesses and products in the world's most... read more

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