Government
Very interesting read and some things that we will all be seeing. I always find it amazing when people think that the Government getting involved in circumstances like this will help. Any small things they change or help with will easily be overshadowed by the harm this act will do. Hope everyone has a smooth ride and that you all reach your credit goals this year. http://finance.yahoo.com/news/Mixed-blessing-credit-card-apf-2338521177.html?x=0
Federal government target Canada Mortgage and Housing Corporation rules
On February 16, the Conservative government announced three new measures to make it more difficult for some Canadians to finance home purchases.
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I personally find this new set of laws to be unfair in the aspect that it will discontinue the use of credit card issuance to people below 21. While it’s true that people under 21 can still apply but will have to go through a lot of extra hassle and will even need a co-signer to get one. I find this to be discriminating. I’m 18 years old and my score from TU is 756 and 718 with EQ. I am responsible with my credit and I don’t see why I have to be punished just because a lot of my peers are ignorant or are downright stupid when it comes to using credit. I thought I was going to take it slow to develop my credit but seeing the deadline being Feb 22, I can’t. So I ended up applying for two AmExes today (Platinum, and Clear) which I would’ve waited at least 6 months to a year to do. While I was instantly approved for both, I know this will definitely hurt my credit score once the inquiries show up on my report. I surely do agree with the part where card issuers aren’t allowed to go to college campuses and give out free stuff to bribe students into getting credit cards I really don’t like how they want to shut out under 21s altogether. Instead of increasing age limits and lowering standards on everything the government is practically increasing the degradation rate of this society. They should just work on educating people instead. Without me researching and reading for countless hours i’m sure I wouldn’t have achieve the scores I have now at only 18 and a half.
Now that Premier came out with their 79.9% card, congress is considering getting involved to set top rates. Say they set a 40% top limit (number totally made up by me)…will the rest of the cards jump up to meet the new maximum? We all saw what happened when they instituted the most recent credit card act. http://finance.yahoo.com/banking-budgeting/article/108839/issuer-of-79.9-interest-rate-credit-card-defends-its-product?mod=bb-creditcards From the CEO of Premier: Beacom from Premier says the astronomic interest rate will only affect revolvers — people who do not pay their entire balances off each month. “People pay it off every month, they pay no interest,” he adds.Those getting the offer have a choice, Beacom says.”If everything is fully disclosed, if they want it fine, if they don’t want it fine,” he adds.”People should be able to make that decision rather than the government cutting off access and saying they know best.”
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Todays government meetings
Portage County Highway Committee, 10 a.m., Portage County Highway Facility, 800 Plover Road, Plover. Agenda includes updates on shop personnel and operations and discipline for break time violation and discussions and possible action items on a resolution for contract approval on Karner Blue Butterfly project, weight limit variances to Grezenski Forest Products and [...]
New ETF Overview: PIMCO Government Limited Maturity Strategy
ActiveETFs | InFocus submits: Date to be Launched: Yet to be confirmed Links: Prospectus Investment Strategy: [[GOVY ] ] tries to achieve maximum current income without compromising on capital preservation and liquidity. It invests 80% (under normal conditions) of its fund in debt securities issued or guaranteed by [...]
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Government cracks down on loan help payments
WASHINGTON (AP) — The government is cracking down on companies that advertise help for troubled homeowners but often…
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Government mortgage plan aids 7 percent of borrowers
WASHINGTON — The Obama administration’s mortgage relief plan provided help to only 7 percent of borrowers who signed up last year, another black mark for the struggling program.
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