Sep 11, 2009
In the latest but perhaps not the last development in its investigation into a trading scandal at the former Baltimore investment firm Ferris Baker Watts, the Securities and Exchange Commission has fined a senior executive $75,000 for failing to respond to red flags indicating that a broker under his supervision was involved in a stock manipulation scheme.
The SEC ordered Louis J. Akers, who was Ferris' vice chairman, to hand over another $19,187 in improper gains and $5,973 in interest, and prohibited him ... Read More
Sep 4, 2009
Many credit cardholders find their interest rates rising, minimum payments spiking and credit limits plummeting, says Consumer Action, which today releases its 2009 Credit Card Survey.
The results of the new Credit Card Survey confirm widespread cardholder complaints that even excellent customers who carry a balance are subject to costly, unilateral increases in their credit card bills.
Consumers are seeing increases in purchase rates, cash advance rates and in some cases default rates. Some issuers are using the new credit card law coming next ... Read More
Aug 18, 2009
PREET BHARARA, the United States Attorney for the Southern District of New York, and JOSEPH F. DEMAREST, JR., the Assistant Director-in-Charge of the New York Office of the ... Read More
Jul 23, 2009
BOSTON—A former resident of Somerville, Mass. who has been living in South Korea was arrested today after arriving at John F. Kennedy Airport in New York.
An indictment, originally returned on March 1, 2007, was unsealed today charging Buford George Peterson and Oussama Abdul Ziade, both former officers of Ptech, Inc., a computer software company that was principally located in Quincy, Mass., with making false statements to the U.S. Small Business Administration (SBA) in connection with a loan application in the amount of ... Read More
Jun 19, 2009
We periodically read other consumer complaint sites to see what active trends in business/consumer relations lie. And every so often there is an articles that will not fit the demographics of a site. On Monday June 15th 2009 major credit card companies announced a rise in consumer card defaults, and some consumer sites have picked up on this information. The rise across the board is roughly 1 percent. Although that seems small in contrast, to big business that means serious a serious ... Read More
