loan

Stories 1 - 20 |  Next >>

Democrats: Thomas RV Loan Is Clear, Raising Questions

Senate committee wants to know whether justice reported the forgiveness

(Newser) - The $267,230 loan to Supreme Court Justice Clarence Thomas from a wealthy friend was forgiven after almost nine years, Senate Democrats have found, though he may not have paid anything on the principal. A report by Democratic members of the Senate Finance Committee says it's not clear how...

Guy Shows What to Do If You Get a $150K Surprise PPP Loan

Minnesota's Thomas Fahling doesn't own a small business but still got a chunk of pandemic cash

(Newser) - Imagine waking up and finding $150,000 magically deposited into your bank account. Thomas Fahling doesn't have to imagine it, because it happened to him one day this spring. The 73-year-old from Crystal, Minn., doesn't have his own business (he's a front-desk clerk), yet he somehow became...

Report: Treasury Looking at 'Unprecedented' Control of USPS

'WaPo': Administration may use $10B loan as leverage for more sway over Postal Service

(Newser) - As part of its $2.2 trillion coronavirus relief effort, Congress has authorized the Treasury Department to extend an emergency $10 billion loan to the struggling US Postal Service. But now the Trump administration is reportedly mulling tacking on conditions to that loan that would put some aspects of the...

Man Who Fled US After Graduation: 'College Ruined My Life'

Student loan debt made living in America unbearable for Chad Albright, and others

(Newser) - You just graduated college. What are you doing next? The answer was not "going to Disney" for these three grads profiled by CNBC —it was fleeing to Ukraine, Japan, and even a jungle in India, all to escape the crushing debt from their student loans back in the...

Trump Was Denied a Loan While Running for Prez

This time, Deutsche Bank was nervous about it

(Newser) - While running for president, Donald Trump reached out for a loan and got an unexpected answer—and that answer was "no," the New York Times reports. Trump made the request of Deutsche Bank in early 2016 while lending his campaign tens of millions and spending money to improve...

Lawyer Accused of Killing Wife Owed Her $350K: Court Docs

McIver contends gun went off accidentally while couple were in a car

(Newser) - An Atlanta attorney facing manslaughter charges in the September shooting death of his wife owed her $350,000 when she died, CBS46 reports. A business owned by Diane McIver had spotted her husband, Claud "Tex" McIver, the money in December 2011, with a payoff date (with interest) set for...

Europe Offers $41B to Greece
 Europe Offers $41B to Greece 

Europe Offers $41B to Greece

Officials hope loan will calm markets

(Newser) - European officials made $41 billion in emergency financing available to Greece, hoping the easy access to credit would soothe fears that the country will default. EU Finance ministers agreed to price the loans at a below-market interest rate of 5%, as the Greek government is already struggling to pay high...

Banks Get Creative to Dodge Bonus Limits

Favorable loans, options aid bonus-bereft execs

(Newser) - Banks chafing under pay and bonus restrictions are helping execs make ends meet with low-interest loans, no-collateral loans, and even loans that don't need to be paid back unless the employee leaves the firm. Favorable and forgivable loans are nothing new in the industry, but experts say in-house loans have...

Fed May Have Outmuscled Other Lehman Creditors

Government creditors got their cash back; private investors still struggling

(Newser) - A special court examiner investigating the Lehman Brothers bankruptcy is trying to determine whether the Fed used its clout to get its money back from the collapsed bank ahead of other creditors. The central bank and its New York branch lent Lehman $46 billion before the bankruptcy but was promptly...

Leibovitz Staves Off Foreclosure
Leibovitz
Staves Off
Foreclosure

Leibovitz Staves Off Foreclosure

Photog gets reprieve, but property, rights to work still at risk

(Newser) - Annie Leibovitz has won an extension of her outstanding $24 million debt to Arts Capital Group, the New York Times reports. The celebrity photographer bought back the rights to her homes and intellectual property—both collateral in the loan—for an undisclosed sum as part of the restructured deal. But...

Fla. Couple Murder Looks Like Contract Hit
Fla. Couple Murder Looks Like Contract Hit
glossies

Fla. Couple Murder Looks Like Contract Hit

Parents of 13 special needs kids 'hated' by businessman

(Newser) - The murder of Bud Billings and his wife Melanie is looking more like a contract hit than an In Cold Blood-style robbery gone wrong, Tim Padgett writes in Time. The tale centers on a boastful ex-Karate instructor in Pensacola, Fla., Leonard Gonzalez, who tells police he turned down the murder-for-hire...

GM Will Advance Cash to Clunkered Dealers

(Newser) - General Motors will start making temporary loans to dealers who have yet to be reimbursed by the federal government under the Cash for Clunkers plan, the Wall Street Journal reports. Dealers, some now irate, essentially did the same thing for customers participating in the trade-in plan—covering the government rebate...

Leibovitz Sued Over $24M Loan

(Newser) - A financial firm is suing Vanity Fair photographer Annie Leibovitz for failing to cooperate to repay a $24 million loan, reports the Telegraph. Leibovitz last year put up her photographs and two homes as collateral for the money to pay off debts. But now Art Capital Group said the 59-year-old...

More Americans Falling Behind on Loans

Balances surge on bank credit-cards as Americans struggle to pay bills

(Newser) - Delinquencies on consumer and home-equity loans rose in the first quarter as unemployed Americans struggled to pay their bills, the Wall Street Journal reports. The number of borrowers at least 30 days late on their consumer loans, which include auto loans, rose slightly to 3.23% from the previous quarter....

Fed to Release Stress Test Results Next Week

Data will show potential losses in specific loan categories

(Newser) - The US will learn the fiscal health of its 19 biggest banks Thursday, when the Federal Reserve and Treasury release the results of the “stress tests,” the Wall Street Journal reports. Delayed somewhat, the results will contain potential loss estimates in specific loan categories for each bank, and...

Goldman Mulls Stock Offering to Repay Feds

Hopes to repay $10B government loan

(Newser) - Hoping to pay off a $10 billion government loan, Goldman Sachs may take advantage of a rising market to make a multibillion-dollar new stock offering, the Wall Street Journal reports. Employees, investors, and executives all like the idea of cutting the government’s role in the firm, which has held...

BofA Loaned Insiders $624M as Credit Froze Up

(Newser) - While credit markets were frozen last year, forcing thousands of Americans out of business, Bank of America lent insiders more than $624 million—more than doubling the amount loaned to insiders the previous year, the Charlotte Observer reports. Recipients' names were not disclosed, but most of the money likely went...

Feds Aim to Generate $1T in Consumer Loans

(Newser) - There's a new acronym in bailout land: TALF. Officials at the Fed and Treasury Department today outlined the new lending program, which is designed to revive the nation's so-called shadow banking system and generate up to $1 trillion in loans to consumers and small businesses, the Wall Street Journal reports....

Toyota Asks Japan for a Bailout

(Newser) - Toyota is reportedly seeking $2 billion in loans from Japan’s government, after forecasting its first loss in 59 years, Bloomberg reports. A Toyota Financial Services spokesman confirmed that the automaker is in talks with a state-owned bank, but wouldn’t specify a figure. The carmaker expects to report a...

Cash-Poor Collectors Turn to Haute Pawnshops

'Private art banks' exchange paintings for cash

(Newser) - With loans hard to come by, some rich Americans are turning to their art collections for quick cash. Rather than sell in a depressed market, collectors turn to a lightly regulated corner of the marketplace that provides capital in exchange for temporary ownership of artwork. While they may look like...

Stories 1 - 20 |  Next >>