GE Pays $70.4 Million to Settle Bid Rigging Investigation

GE Company settles charges in bid rigging scheme.  Among other things is was alleged GE colluded with other big banks to rig bids on contracts with local governmental agencies:  taxpayers.  For example one friendly bank might put in a phony bid to help the other bank win the bid so on and so forth.  For the inquiring mind there is more here a the link.  Visit fix my credit for a free credit repair evaluation.

Consumer Credit Capital Launches Clean Credit Repair Program

Consumer Credit Capital Launches their Clean Credit Repair Program.

The Program was developed based on thousands of hours of credit management experience in dealing with creditors, collectors and credit bureaus.  Credit Repair: The Company has experience in dealing with creditors, collectors and credit reporting agencies. Visit the Company's website to download their Insiders' Report. In the report, learn how to deal with creditors and credit reporting agencies.Consumer Credit Capital launches their Clean Credit Repair Program. The program was developed based on thousands of hours of credit management experience, and relying on the Fair Credit Reporting Act, the Fair and Accurate Credit Transaction Act and the Fair Debt Collection Practices Act and other consumer protection legislation.  Houston, Texas (PRWEB) December 07, 2011  There is much more here at the link

Fraud Foreclosures On Active Duty Military

Than banks continue to settle suits over fraudulent lending including foreclosing on active duty members across the country.

About 5,000 homes owned by active-duty members of the military and their families may have been foreclosed on by 10 leading lenders in violation of the Servicemembers Civil Relief Act, which aims to protect members of the military from financial distress, according to data released last week by the Office of the Comptroller of the Currency.

There is more here.  What is to be sure is the housing recovery is a long way off.

Online Sales Grow

Online sales continue to grow as cost conscious consumers coupled with increased connectivity to the web results in a record of nearly $6 billion spent during the opening week of the 2012 holiday season.

ComScore says online sales are up 15 percent to $18.7 billion in November and the first two days of December, compared with the same period last year.

There is more here at the link   While the numbers are difficult to track it looks like overall spending is up this holiday season over last and spending online is up by more than 10%.

FDCPA Lawsuits Outpace last Year

Total lawsuits filed in the U.S. this year citing alleged Fair Debt Collection Practices Act (FDCPA) violations reached 10,402 through mid-October, well ahead of last year's pace.  The article is here at the link:


For more on the Fair Debt Collection Practice act you can find it here at the link FDCPA.  

FDCPA protects consumers as it dictates to debt collectors what they can and can’t do when collecting a debt from a consumer. The United States Congress has found that there is ‘abundant evidence of the abusive deceptive and unfair debt collection practices by many debt collectors. Abusive debt collection practices contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs and to the invasion of individual privacy’s.

For more on the FDCPA to discuss Credit Repair Services. Visit Consumer Credit Capital.at the link. 

$7.77 Trillion in Loans made to the Banking System

While congress and the country were kicking around the $700 billion figure (Paulson's bazooka) and the hyperinflation-istas were screaming the ski is falling--- the dollar toast--- none of them recognize how big the dollar is (wait until they get hold of the $7.7 trillion number).  Back then the argument was, and to many still is, the dollar is going to implode and the Euro will become the reserve currency.  There is much more here at the Bloomberg article.