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February 15, 2012
Laurel Advocacy and Referral services is offering a free consumer credit forum as a preliminary step to help those experiencing the consequences of a poor credit score. The community consumer credit forum will be held Wednesday, March 7 from 7-8 p.m. at the Laurel Police Department's Partnership Activity Center, 811 Fifth St. The forum will feature a panel discussion with local bankers and credit counselors, with a half hour for questions from the audience. LARS officials said the agency has found many of its clients unable to secure housing because of a poor credit score.
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EXPLORE
February 15, 2012
Laurel Advocacy and Referral services is offering a free consumer credit forum as a preliminary step to help those experiencing the consequences of a poor credit score. The community consumer credit forum will be held Wednesday, March 7 from 7-8 p.m. at the Laurel Police Department's Partnership Activity Center, 811 Fifth St. The forum will feature a panel discussion with local bankers and credit counselors, with a half hour for questions from the audience. LARS officials said the agency has found many of its clients unable to secure housing because of a poor credit score.
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BUSINESS
By KENNETH HARNEY | August 17, 2003
THE MOST significant federal changes to the rules of consumer credit in decades - covering everything from your mortgage application to the scourge of identity theft - are now heading for passage on Capitol Hill. If the bill is approved by the House next month, as expected, and the Senate later this fall, consumers in all 50 states and the District of Columbia will receive credit-related protections they've never enjoyed before. Tops on the list: the right to obtain free copies of your credit reports, upon request once a year, from the three big national credit repositories - Equifax, Experian and Trans Union.
NEWS
By Jacques Kelly, The Baltimore Sun | February 15, 2012
Alan Mark Silbergeld, a retired Consumer Union attorney and consumer advocate who was an aficionado of vocal music, died Friday of complications from lymphoma at Johns Hopkins Hospital. The Homeland resident was 72. "He was a leading consumer advocate on federal policy in Washington for the last 40 years," said Stephen Brobeck, Consumer Federation of America executive director and a friend. "He also loved Baltimore. " Born in Greenville, Ill., and raised in St. Louis, Mr. Silbergeld earned a government degree at Indiana University and a law degree from Washington University.
BUSINESS
By BLOOMBERG NEWS | October 8, 1997
WASHINGTON -- Borrowing by U.S. consumers increased at a slower-than-expected pace in August, further evidence that the economy is cooling from earlier in the year.Consumer credit rose by $4.3 billion for the month to $1.229 trillion after rising by a revised $6.0 billion during July, the Federal Reserve reported yesterday.Analysts had forecast an increase of $4.6 billion in August.Analysts watch the Fed's credit statistics because it helps them gauge changes in consumer spending, which accounts for two-thirds of overall economic activity.
BUSINESS
By Kenneth R. Harney | November 28, 1999
IF CONGRESS wants evidence about how federal tax policy can transform consumer behavior, it need look no further than a forthcoming report on the current state of the American home equity loan.Whereas barely 30 years ago second mortgages were considered a backwater of consumer credit, aimed primarily at people who had no other way to raise cash, today they are a product for the creme de la creme: Home equity borrowers have higher incomes than the average American household, they pay much less for their credit than people who take out ordinary consumer loans, and they default on their obligations at a very low rate.
BUSINESS
By JONATHAN A. AZRAEL | March 25, 2001
Dear Mr. Azrael, I have questions about FICO scores, which are used by credit reporting companies to rate the creditworthiness of borrowers. An article in the Jan. 21 issue of The Sun stated that borrowers using high-rate consumer credit loan companies take a hit on their FICO scores. Will borrowing from a high-rate loan company hurt my ability to refinance my home loan with a lower-rate mortgage company or savings bank? Will high-rate borrowing affect my ability to finance the purchase of a second home?
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,Washington Post Writers Group | July 2, 2000
One minute they're stonewalling, the next minute they're begging you to listen. I'm speaking of the companies that create consumer credit scores. Right now, you probably don't know your personal credit score, and the industry hasn't wanted to tell you. Within a year, however, they'll be falling all over themselves to disclose. The knowledge should help you handle your money a little better. A credit score tells you how you stack up as a borrower, compared with the rest of the population.
BUSINESS
June 6, 2004
A weekly briefing on the economic calendar Monday * Consumer credit report for April Earnings reports: Bob Evans Tuesday Earnings: School Specialty, Take-Two Wednesday * Wholesale inventories for April Earnings: Smithfield Foods, Tommy Hilfiger, H&R Block, OmniVision Thursday * Export and import price report for May Earnings: National Semiconductor, Oracle Friday * Balance of trade report for April * Producer price index for May * University...
BUSINESS
May 7, 1994
GEICO net down for quarterGEICO Corp. said yesterday that its income totaled $35.1 million in the first quarter, down from $62.9 million in the same period last year.The Chevy Chase-based insurance company said net income was 50 cents a share, 43 percent lower than 88 cents a share a year ago.GEICO said its net income included after-tax gains of $4.5 million, or 7 cents a share, for the quarter, compared with $24.2 million, or 34 cents a share, for the same period of 1993.Accounting changes resulted in a reduction in net income of $1.1 million, or 1 cent a share.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 18, 2011
For years if consumers wanted to know their credit score, they had to buy it. But starting this year, potentially millions will be able to get their score for free thanks to new federal regulations. Moreover, the score will be the actual one used to determine a consumer's creditworthiness — not one of the knock-offs offered online that can be off by dozens of points. "Knowledge is power," says Ed Rice, general counsel for Zoot Enterprises, which provides software to help financial institutions make credit decisions.
BUSINESS
By Gail MarksJarvis and Gail MarksJarvis,Your Money | May 25, 2008
There is no leniency. Credit card companies and banks are worried that people are drowning in debt and will fall behind on payments. With home values declining and banks wary of handing out loans, outlets for escaping overwhelming debt are limited. Consumers are finding themselves caught. Card companies are getting tougher, sometimes canceling unused cards or raising rates seemingly for no good reason. And 30 percent of banks said in a recent Federal Reserve survey that they had tightened standards on consumer loans.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,Sun reporter | September 20, 2005
The U.S. Trustee Program yesterday released the names of 26 credit counselors approved to provide counseling to consumers under the new bankruptcy law that takes effect next month. More than 100 nonprofits had applied to the U.S. Trustee to become counselors for bankruptcy filers. Additional names will be posted as agencies are approved, said Jane Limprecht, a spokeswoman for the Trustee Program, which oversees the administration of bankruptcy cases. Four nonprofits have been approved for Maryland: Consumer Credit Counseling Service of Maryland and Delaware Inc. in Catonsville; GreenPath Inc. of Farmington Hills, Mich.
BUSINESS
June 6, 2004
A weekly briefing on the economic calendar Monday * Consumer credit report for April Earnings reports: Bob Evans Tuesday Earnings: School Specialty, Take-Two Wednesday * Wholesale inventories for April Earnings: Smithfield Foods, Tommy Hilfiger, H&R Block, OmniVision Thursday * Export and import price report for May Earnings: National Semiconductor, Oracle Friday * Balance of trade report for April * Producer price index for May * University...
BUSINESS
By KENNETH HARNEY | November 30, 2003
HOMEBUYERS and mortgage refinancers should be among the major beneficiaries of new legislation reforming the nation's consumer credit rules and practices, approved by the House and Senate just before the Thanksgiving recess. Mortgage applicants in all 50 states will be able to request and obtain one free copy per year of their credit reports from each of the three national credit repositories - Equifax, Experian, and TransUnion. Now, residents of only a handful of states have that right.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | October 14, 2003
The Internal Revenue Service is investigating the business practices of nonprofit credit-counseling services, which advise millions of people in debt. The investigation could jeopardize the agencies' nonprofit status and upend the industry just as a proposed change in federal bankruptcy law stands to steer many thousands more people to debt counseling. As nonprofits, the agencies are now exempt from dozens of state and federal regulations. The IRS, the Federal Trade Commission and state regulators plan to issue an unusual joint advisory today warning consumers to be wary about the total costs when seeking help from tax-exempt credit-counseling organizations.
BUSINESS
By Liz Atwood and Liz Atwood,Staff Writer | March 31, 1992
The Consumer Credit Counseling Service of Maryland, a non-profit group that helps people straighten out their finances, is expanding its suburban operations by opening offices in Owings Mills and Columbia."
BUSINESS
By Samantha Kappalman and Samantha Kappalman,CONTRIBUTING WRITER | November 27, 1997
Every year at this time, millions of consumers get into financial trouble by being unable to resist overspending on holiday gifts.But once the bills start arriving, credit management companies are swamped with desperate calls for help.Columbia-based Genus Credit Management started a holiday hot line yesterday with the purpose of educating consumers against overspending and counseling them on how to budget for the holiday season. In addition to helpful hints, the firm provides an interactive service that tells consumers how much they can spend based on monthly expenses and income, which the caller enters into the system.
BUSINESS
By KENNETH HARNEY | August 17, 2003
THE MOST significant federal changes to the rules of consumer credit in decades - covering everything from your mortgage application to the scourge of identity theft - are now heading for passage on Capitol Hill. If the bill is approved by the House next month, as expected, and the Senate later this fall, consumers in all 50 states and the District of Columbia will receive credit-related protections they've never enjoyed before. Tops on the list: the right to obtain free copies of your credit reports, upon request once a year, from the three big national credit repositories - Equifax, Experian and Trans Union.
NEWS
By Bill Atkinson and Bill Atkinson,SUN STAFF | September 3, 2002
Much has been written about heroes in the past year, but the unsung hero has been the American consumer, who almost single-handedly prevented the country from plunging into a deep and prolonged recession. Immediately after the Sept. 11 terrorist attacks, many economists feared a crippling of the weakened U.S. economy. But if the American spirit was shaken, it didn't keep people from spending. A year later, experts compare the attacks to a hurricane - they were swift and violent. The damage to the economy, though, wasn't as devastating as expected.
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