FHA plan will stimulate new home sales and help stabilize housing market WASHINGTON - The Federal Housing Administration (FHA) will allow homebuyers to apply the new $8,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. The…

Washington, D.C. The Securities and Exchange Commission has charged 10 brokers with fraud for falsely marketing investments in derivatives of mortgage-backed securities as safe and suitable for retirees and others with conservative investment goals. The SEC alleges that the brokers…

NEW YORK CITY & WASHINGTON, D.C. - Even as forensic accountants and lawyers continue to untangle what is believed to be the most complicated and far-reaching financial fraud in U.S. history, a total of $61,409,834.50 of Securities Investor Protection Corporation…

WASHINGTON The U.S. Department of the Treasury released Treasury International Capital (TIC) data for March 2009. Net foreign purchases of long-term securities were $55.8 billion. * Net foreign purchases of long-term U.S. securities were $56.4 billion. Of this, net purchases…

WASHINGTON Plug-in electric vehicles using certain types of batteries may qualify for a new tax credit if purchased this year. The Emergency Economic Stabilization Act of 2008 (EESA) and the American Recovery and Reinvestment Act of 2009 (ARRA) created two…

Carrying a credit card balance can be expensive for consumers, especially for those who make only minimum monthly payments. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires that consumers be provided with toll-free telephone numbers to call…

Global economic optimism at highest since 2004 NEW YORK and LONDON - Risk appetite has started to pick up on the back of improving global economic sentiment, according to the Merrill Lynch Survey of Fund Managers for April. Optimism about…

Homeowners with little to no equity may now have an opportunity to refinance CALABASAS, California -- Bank of America, which services one out of five mortgages in the United States, announced today that it has begun processing its first wave…

WASHINGTON As part of the Treasury Departments consumer outreach effort and with the April 15 individual tax filing deadline approaching, the Internal Revenue Service today began a concerted effort to educate taxpayers about additional options at their disposal to claim…

WASHINGTON The Internal Revenue Service seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), which listens to taxpayers, identifies key issues and makes recommendations for improving IRS service. TAP members are your friends and neighbors, walking in the…

Two Firms Falsely Claimed to be Affiliated with Non-Profit HOPE NOW Alliance At the request of the Federal Trade Commission, a U.S. district court has ordered two companies to stop falsely advertising that they are part of a government-endorsed mortgage…

The Federal Deposit Insurance Corporation issued tips to help consumers spend less, save more, protect against fraud and borrow wisely at any time, but especially during a difficult economy. The advice was published as a special edition of the FDIC…