Ahead of the Bell: Consumer Credit
Business Law
Consumers, confronting job losses and weak income growth, likely cut back on their borrowing for a sixth consecutive month in July.
Consumer borrowing likely fell by $4.5 billion at an annual rate in July, according to economists surveyed by Thomson Reuters. The Federal Reserve is scheduled to release the report at 3 p.m. EDT Tuesday.
In June, consumers slashed their borrowing at a rate of $10.3 billion, marking another month where households cut back sharply on their use of credit cards and other types of loans amid the longest recession since World War II.
In April, consumers trimmed borrowing at a rate of $17.4 billion, the largest amount on records that date to 1943.
Widespread job losses, declining home values and shrunken stock portfolios have contributed to Americans' more thrifty mood.
The Labor Department reported last week that the unemployment rate jumped almost a half a point to 9.7 percent in August, the highest since 1983. Many economists believe the rate will hit 10 percent before the end of this year and will remain elevated levels for some time.
Related listings
-
US appeals court upholds Internet gambling ban
Business Law 09/02/2009A U.S. appeals court upheld an Internet gambling ban Tuesday, rejecting a challenge from an association of off-shore bookies that the federal prohibition was too vague and violated privacy rights.The 3rd U.S. Circuit Court of Appeals in Philadelphia ...
-
Seiko Epson unit pleads guilty in price fixing case
Business Law 08/27/2009A unit of Seiko Epson Corp agreed to plead guilty to one count of conspiring to fix prices for liquid crystal screens sold to mobile phone maker Motorola Inc, the U.S. Justice Department said on Tuesday. Epson Imaging Devices Corp, which was known as...
-
Wells Fargo sued over home equity lines of credit
Business Law 08/19/2009The banking unit of Wells Fargo & Co. is facing a lawsuit claiming it illegally reduced the size of customers' home equity lines of credit. The suit, which was filed in Illinois, claims Wells Fargo failed to accurately assess the value of custome...
Illinois Work Injury Lawyers – Krol, Bongiorno & Given, LTD.
Accidents in the workplace are often caused by unsafe work conditions arising from ignoring safety rules, overlooking maintenance or other negligence of those in management. While we are one of the largest firms in Illinois dedicated solely to the representation of injured workers, we pride ourselves on the personal, one-on-one approach we deliver to each client.
Work accidents can cause serious injuries and sometimes permanent damage. Some extremely serious work injuries can permanently hinder a person’s ability to get around and continue their daily duties. Factors that affect one’s quality of life such as place of work, relationships with friends and family, and social standing can all be taken away quickly by a work injury. Although, you may not be able to recover all of your losses, you may be entitled to compensation as a result of your work injury. Krol, Bongiorno & Given, LTD. provides informed advocacy in all kinds of workers’ compensation claims, including:
• Injuries to the back and neck, including severe spinal cord injuries
• Serious head injuries
• Heart problems resulting from workplace activities
• Injuries to the knees, elbows, shoulders and other joints
• Injuries caused by repetitive movements
For Illinois Workers’ Compensation claims, you will ALWAYS cheat yourself if you do not hire an experienced attorney. When you hire Krol, Bongiorno & Given, Ltd, you will have someone to guide you through the process, and when it is time to settle, we will add value to your case IN EXCESS of our fee. In the last few years, employers and insurance carriers have sought to advance the argument that when you settle a case without an attorney, your already low settlement should be further reduced by 20% so that you do not get a “windfall.” Representing yourself in Illinois is a lose-lose proposition.