The percentage of U.S. workers covered by health insurance who are required to meet a deductible before any benefits are paid by their insurance plan rose at a double-digit rate from 2002 to 2005, according to a report by the Agency for Health Research Quality (AHRQ). Sixty four percent of workers with insurance plans were [...]
As the year ends, the economic problems caused by the crisis in the subprime mortgage market seem to still be growing. Now, some experts are predicting that in 2008 more consumers will have trouble paying their auto loans, and that more businesses could file for bankruptcy. The research firm Global Insight is predicting a 13 [...]
Embattled student lender Sallie Mae reported yesterday it would expand in the private loan market, a sector that has grown in recent years along with the price of college tuition. Sallie Mae, known formally as SLM Corp., reported its plans in filings with the U.S. Securities and Exchange Commission. Reston, Va.-based Sallie Mae also reported [...]
Debt purchaser and collector Encore Capital Group (Nasdaq: ECPG) yesterday reported it had expanded the size of its lending agreement to $230 million with an additional $70 million in availability. According to Encore’s filing with the U.S. Securities and Exchange Commission, its amended lending agreement now covers the following: JPMorgan Chase with $47.5 million available,Bank [...]
Bad news hammered the mortgage industry this week, though one bankrupt lender hopes to put some of its mortgages up for sale in February, creating opportunity for debt buyers and collectors. American Home Mortgage Investment Corp. asked a bankruptcy court for permission to sell pools of mortgages where delinquent borrowers owe $164 million in principal [...]
Synovus (NYSE: SNV), the Columbus, Georgia-based financial services company, recently announced the following executive changes related to the upcoming spin-off of TSYS. G. Sanders Griffith III, Synovus Senior Executive Vice President, General Counsel and Secretary, wil transition to TSYS to serve as Senior Executive Vice President, General Counsel and Secretary. Paul M. Todd, Synovus Executive [...]
Online Resources Corporation (Nasdaq:ORCC), a leading provider of web-based financial services, released recently the results of a survey of U.S. households and billers regarding the effect of the current mortgage crisis on bill payment and collection patterns. The survey shows that fallout from the mortgage sector is spilling over into the broader economy, impacting companies [...]
There will be an economic slowdown in 2008 but “healthy export growth and continued business spending” will steer the economy away from a recession, according to Dr. Scott Anderson, senior economist for Wells Fargo & Co. Consumers are tapped out and the recent moves by the Federal Reserve to lower interest rates may not be [...]
Payments network Visa reports a loss for the year but fails to divulge other basic information regarding its expected initial public offering.
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