Personal Finance News

Daily Telegraph Personal Finance
Personal finance news, how to make money, how to save money
Personal finance news including expert tips on how to make money, save money and look after your personal finances from telegraph.co.uk

Nationwide to charge for overseas transactions
Nationwide Building Society is introducing new charges for transactions in currencies other than sterling on its FlexAccount.
£7billion a year skimmed off our savings
Money is being "skimmed off" Britons' savings by bankers and fund managers, Telegraph investigation finds.
'Maybe I'll be in Rocky 7'
Champion boxer Joe Calzaghe talks about money.
Broadband bundles made clear
Sky, Virgin or Freeview? Finding the cheapest phone, broadband and TV package can be daunting. We look at the options.
Best broadband deals for tv sport and film
The best packages for sports fans, film buffs and high definition and bundle deals.
Smaller societies offer bigger deals
The smaller building societies account for half of the best-buy places and offer most of the market-leading variable rate deals.
Would your finances pass the stress test?
How to balance a budget and make sure you have enough for a rainy day.
Pet insurance is no laughing matter
After four claims in four years, our Personal Finance Editor decides its time to write about pet insurance.
The gold investment fund that doesn't invest in gold
Sometimes funds aren't all that they seem - it's wise to check under the lid.
Employees think they will never give up work
More than half of today's older generation expects never to give up working entirely, a new report claims.
Half of over 50s do not expect to give up work
More than half of today's older generation expects never to give up working entirely, a new report claims.
Scrapping retirement age opens 'Pandora's box' of tribunal claims
Allowing workers to remain in their jobs beyond 65 risks opening a "Pandora's box" that will lead to many more unfair dismissal claims, ministers have been warned.
Local people to get powers to veto excessive council tax rises , Eric Pickles...
Residents will be given powers to veto inflation-busting council tax rises, under new Government plans.
From top hats to Metro Bank: a history of British banking in pictures
As Metro Bank, the first new bank in 100 years, opens its doors, we look back at how Britain's high street banks have evolved.
Questor Plus Podcast: Chemical compounds
Garry White: why specialist chemicals are a good bet.

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Bernanke recouped personal losses in 2009 (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke's personal finances recovered in 2009, disclosure forms released by the central bank on Friday showed.
Cuomo widens insurer probe with 6 more subpoenas (Reuters)

Reuters - New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military.

Reverse Mortgages Aren't Catching On (U.S. News & World Report)
U.S. News & World Report - The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders.
Fannie Mae portfolio grows, delinquencies decline (Reuters)
Reuters - Fannie Mae expanded its mortgage portfolio in June, while the rate of late payments on loans it guarantees fell in May to the lowest level this year, the largest U.S. home loan purchaser said on Friday.
NY AG announces probe of life insurance industry (AP)
AP - State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die.
MetLife posts Q2 earnings of $1.5 billion, beating Street (Reuters)
Reuters - MetLife Inc , the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by higher premium revenue from sales domestically and abroad.
Florida mortgage firm settles federal charges (AP)
AP - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.
PMI Group narrows loss, but shares tumble (AP)
AP - PMI Group Inc. on Thursday reported a nearly $151 million loss, narrower than a year ago but far wider than Wall Street expected. Shares of the mortgage insurer tumbled nearly 15 percent.
Congress to try to recoup Fannie, Freddie costs (AP)
AP - Lawmakers plan to study ways to get back some of the $145 billion the government has pumped into giant mortgage buyers Fannie Mae and Freddie Mac.
Summary Box: Mortgage rates hit low of 4.54 pct. (AP)
AP - RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week.
Mortgage rates hit low of 4.54 percent (AP)

AP - Mortgage rates are the most affordable in decades for those who can qualify for a loan.

Citigroup settles charges over misleading investors (AFP)

AFP - US bank Citigroup agreed Thursday to pay a 75-million-dollar fine to settle charges it misled investors about exposure to subprime mortgage-related assets, the Securities and Exchange Commission said.

(AP)
AP - Mortgage rates drop to 4.54 pct., hitting lowest level on record for fifth time in six weeks.
Mortgage lenders must register in database (AP)
AP - Loan officers at banks will be required to provide their names and fingerprints to a national database as part of an effort to crack down on shady operators who fed the real estate bubble.
Treasury says latest mortgage-aid report flawed (AP)
AP - The Obama administration is revising the latest report on its troubled mortgage-relief program, and the changes are likely to show a greater number of borrowers facing foreclosure after having their loans modified.

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