New bank law due this week
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As a single parent with one income, Barbara George said she routinely relies on âthe floatâ when she writes a check. âIf Iâm writing a check for my kidsâ lunch money or while on vacation
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Bank regulators have agreed on new standards for subprime mortgage loans and are prepared to release it Friday, several sources familiar with the matter said Thursday.
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Bank regulators issued new standards for subprime mortgage lending on Friday that includes several new consumer protections.
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Starting Thursday, a new law takes effect that is designed to make the check-payment system more efficient by clearing checks electronically.
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At a Senate Banking Committee hearing yesterday, legislators and consumer advocates prodded federal banking regulators to move more quickly to put restrictions on non-traditional mortgage lending, because, they said, the new kinds of mortgages may place borrowers and lenders at financial risk.
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Consumers who cut it close by paying bills from their checking accounts a couple of days before depositing funds will be out of luck under a new law that takes effect Oct. 28.
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Consumer advocates are urging bank customers to be more careful about the checks they write now that new federal regulations designed to speed up check processing have taken effect.
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New reforms aim to avert another Rock-style crisis as consumers and firms face worsening of credit supply
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Business & money: Banks may be forced to seek huge injections of fresh capital as the credit crunch shows no sign of abataing
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Starting Thursday, if you write a check, the money had better be in the account to back it up. The cash could be coming out quicker.
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A look at some of this weekâs major business events coming this week.
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WASHINGTON - A new $50 bill with touches of red, blue and yellow went into circulation Tuesday and soon will be showing up at banks, cash registers and wallets.
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U.S. bank regulators issued new  standards for subprime mortgage lending Friday that includes  several new consumer protections.
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The Treasuryâs schedule of financing this week includes Mondayâs regular weekly auction of new three- and six-month bills and an auction of four-week bills on Tuesday.
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Major American banks are expected to unveil substantial losses and secure more cash from abroad in what is shaping up to be a pivotal week for the global credit crisis, with central banks also poised to weigh in again.
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NEW YORK - High-tech changes in the banking industry will soon be affecting the most mundane of financial products, the checking account.    On Oct...
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Some consumer advocates are worried new check regulations that go into effect today will catch consumers by surprise. Checks will now be cleared electronically, reducing the amount of time