Money

The 15 shady mortgage lenders backed by the government

Irresponsible mortgages have taken the US economy down. So one might think that the lesson has been learned. But this is not the case. In fact, one of the worst instigators of bad mortgages right now is the US government, through the Government National Mortgage Association (GNMA or ‘Ginnie Mae’). …

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Does SBI Purchase NBFC Loans Make Business Sense?

The decision by the State Bank of India to step up purchases of loan portfolios from non-bank financial companies has eased the fall in the stock prices of non-bank lenders. Shares of all NBFCs closed higher. Bajaj Finance Ltd. gained 10%, Indiabulls Housing Finance Ltd. rose 3.6% and Dewan Housing …

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Chicago area CEO arrested in Capitol riots put on leave

UPDATE AT 4:45 p.m.: The president and CEO of suburban digital marketing company Cogensia has been fired by the company’s board of directors, effective immediately. The move comes following earlier reports that CEO Brad Rukstales was on leave following his participation in Wednesday’s rally that resulted in violence on Capitol …

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Consumer watchdog controls payday lenders with tough new measures

(Photo credit: Shutterstock) Federal regulators on Thursday released new rules that will drastically restrict access to payday loans and curb some practices that have angered consumer advocates. Payday loans, which provide cash-strapped consumers with quick access to cash, are typically characterized by ultra-high interest rates and short repayment periods. Borrowers …

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