Nov 14th, 2008 · The Federal Deposit Insurance Corp. is proposing a plan to offer incentives to companies that reduce monthly mortgage payments. FDIC Chairwoman Sheila Bair wants to use a chunk of the government's $700 billion bailout fund to rework mortgage loans. She tells Steve Inskeep that it is similar to what the FDIC is doing at IndyMac, the giant California bank that failed over the summer, with tens of thousands of delinquent loans.
Nov 13th, 2008 · Many banks are raising their fees for late payments and account overdrafts. Critics say this is exacerbating the problems of families with financial woes. We look at why banks are still passing the buck to consumers, despite bailout money on the way.
Nov 11th, 2008 · Citigroup announces a new initiative Tuesday to try to help more homeowners avoid foreclosure. Citi says it will lower mortgage payments for about 100,000 people, who haven't yet fallen behind on their payments. The government also has been considering taking more dramatic action to stem foreclosures.
Nov 7th, 2008 · When the normally quiet bond market went haywire, cities and towns across America found themselves stuck with rising payments and projects in jeopardy. But, why?
Oct 26th, 2008 · Credit card companies are watching the economy and making pre-emptive moves to reduce the amount of credit they offer to many customers. And they are looking well beyond payment history when reconsidering credit lines. Some companies are looking at who the customers' mortgage lender is, where they shop and whether they live in a region that's been hard hit by foreclosures. Customers are outraged, but card issuers say they are simply managing risk in tough economic times.
Oct 9th, 2008 · Since slipping behind in the polls, Republican hopeful John McCain has been intensifying his attacks on Democrat Barack Obama. Mindful that the economy is uppermost in voters' minds, McCain repeated Wednesday the proposal he floated in Tuesday's debate: having the government come directly to the aid of people whose homes have lost value and who can't meet their monthly payments.
Oct 7th, 2008 · The credit crisis has moved from big institutions like Fannie Mae and Freddie Mac to smaller institutions like hospitals, colleges and non-profits. Rising interest rates are limiting their ability to expand, and they warn rising debt payments will cut into staff and services.
Oct 6th, 2008 · Even as the company was heading toward collapse, executives at Lehman Brothers were being awarded millions in bonuses and special payments. Lehman CEO Richard Fuld has told Congress he feels "horrible" about the way the company imploded.