Posted by Linda H on 1:40:00 PM
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Posted by Linda H on 12:59:00 PM
Consumers who were victims of mortgage discrimination could get anywhere from $500 to thousands of dollars each as a result of a settlement announced Wednesday by the Justice Department. Under the deal, Bank of America's Countrywide Financial unit is paying a record $335 million to settle civil charges that it discriminated against minority home buyers.
More than 200,000 individuals were affected and could be eligible for payments from the fund. Affected consumers include two different groups of victims who will be eligible for two different types of damages, said Ira Rheingold, executive director of the National Association of Consumer Advocates, who spoke with Justice Department officials abou the settlement.
Posted by Linda H on 6:35:00 AM
The growth picture was brightened as pending sales of previously owned homes jumped to a 1-1/2 year high in November, adding to signs of a tentative recovery in the housing market.
Indications the economy was wrapping up the year on a much firmer footing than had been previously anticipated leaves it better positioned to deal with headwinds from the festering debt crisis in Europe and fiscal tightening at home.
"The data have maintained their stronger tone and that suggests the economy is on an upswing towards the end of 2011, but they are not pointing to robust growth in 2012," said Conrad DeQuadros, senior economist at RDQ Economics in New York.
Posted by Linda H on 6:02:00 AM
Ford Motor said its U.S. vehicle sales topped 2 million this year for the first time since 2007, implying a 15 percent share in the second biggest auto market in the world.
Ford's small cars sales are on pace to post an increase of more than 20 percent this year, while its utility vehicles are tracking a 30 percent gain, the company said.