BREAKING NEWS: At least 1,100 dead in 2 Indonesia quakes, UN says Click for story –> Genworth Financial closes sale of Genworth Seguros Read the original article at Palmbeachpost

The Financial Services Compensation Scheme said in an update that there are a number of complicated legal issues but that it hopes to be in a position to confirm whether it can pave the way for compensation in November. In a statement posted on its website it said: “We [ Read More → ]

The British Insurance Brokers’ Association (BIBA) has called on the Government to introduce support to make it easier for older travellers and motorists to find appropriate and affordable protection. BIBA is seeking a tailored exception allowing for age to be used in insurance rating provided that it is proportionate to risk [ Read More → ]

Most home buyers purchase life assurance when they arrange a mortgage, but only a minority obtain another form of financial protection that they are five times more likely to need before they reach retirement. Critical illness assurance pays a tax-free lump sum on diagnosis of any one of [ Read More → ]

Walter Hamilton And E. Scott Reckard - Kenneth D. Lewis, who became a focus of public and political outrage while presiding over Bank of America Corp.’s stunning fall from grace in the financial crisis, is stepping down as [ Read More → ]

On Wall Street, it paid to wear rose-colored glasses in the third quarter. Another surge in stock prices rewarded investors who kept faith that the recession was ending — even amid growing concern about the recovery’s dependence on government support. The Dow Jones industrial average, which slipped 29.92 points, or 0.3%, to [ Read More → ]

You may have noticed that I talk a lot about planning for retirement. I even go so far as to use sports analogies to get my points across. No analogies this week, however. I just want to discuss financial planning for people under age 35. Read the original article at Palmbeachpost

Massachusetts lawmakers will consider new rules today to protect consumers from abuses involving overdraft charges on bank accounts, unsolicited loans from financial institutions, and reverse mortgages. For instance, State Senator Steven Baddour, a Democrat from Methuen, has filed a bill to require institutions that mail unsolicited loan offers - such [ Read More → ]

WASHINGTON - Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again. More than 50 percent of homeowners with loans modified in the first half of last year had missed at least two months [ Read More → ]

The Financial Services Authority (FSA) has revealed a package of measures to protect consumers in the Payment Protection Insurance (PPI) market and ensure they are better treated when buying PPI or complaining about it. Single premium PPI products have long been controversial, particularly with consumer watchdogs who claim that the policies [ Read More → ]