The FDIC protects depositors from failing banks. Most FDIC-insured institutions are well-capitalized and well-managed, so it’s unlikely that you will have deposits in a bank that fails. But it’s common for people to ask, What should I know and do if I hear that my bank has been closed? We hope the following will answer […]
Part 3 of China’s “Hot Money” Problems. While there may be some uncertainty about the precise amount of “hot money” flowing into China, there appears to be a general agreement as to why speculators are moving their capital into China. Analysts point to two key factors: (1) the relative interest rates in China and the […]
Part 1 of China’s “Hot Money” Problems. China has experienced a sharp rise in the inflow of so-called “hot money,” foreign capital entering the country supposedly seeking short-term profits, especially in 2008. Chinese estimates of the amount of “hot money” in China vary from $500 billion to $1.75 trillion. The influx of “hot money” is […]
Part 3 of How to Choose a Credit Counselor. If your financial problems stem from too much debt or your inability to repay your debts, a credit counseling agency may recommend that you enroll in a debt management plan. A Debt Management Plan alone is not credit counseling, and Debt Management Plans are not for […]
The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments. It simply allows the […]
Regardless of their name, these small, short-term, high-rate loans by check cashers, finance companies and others all come at a very high price. The finance charge can climb to $60 to borrow $100.
An education beyond high school is an investment in your future. It can be expensive and often requires you or your family to take out loans to help pay for it. Student loans fall into two categories, federal loans and private loans. Federal loans, which are subject to oversight and regulation by the federal government, […]