Daily Archives: December 3, 2012 - 4 results

Alternative Financial Services (AFS) businesses are a major source of banking and credit services for the un- and under-banked,  low-income and working poor consumers, residents of minority neighborhoods, and consumers with heavy debt burdens and less-favorable credit histories. Often, these individuals or families are thrown for a financial loop when faced with unexpected expenses and emergencies. AFS providers fall outside the system of traditional, federally insured financial institutions. They include check cashing and money order outlets, lenders and even retail …

LEGAL NEWS OF THE WEIRD – Samuel Cutrufelli, 31, filed a lawsuit in October in Sacramento County, Calif., claiming that Jay Leone, 90, “negligently” shot him. Cutrufelli had burglarized Leone’s home in Greenbrae, unaware that Leone was home. When Leone reached for one of his stashed handguns, Cutrufelli shot him in the jaw and then pulled the trigger point-blank at Leone’s head, but was out of bullets. Leone then shot Cutrufelli several times, which Cutrufelli apparently felt was entirely unnecessary. …

For many of us, our whole life is on our laptop. And if it were lost, we would give anything to get it back. That’s how music producer and singer-songwriter Ryan Leslie felt when lost a bag containing his MacBook, $10,000 in cash and his passport while he was on tour in Cologne, Germany two years ago. The distraught Leslie, who has stored all the songs for a new album on his hard drive, initially offered a $20,000 reward to …

A federal law that has helped consumers avoid paying taxes on money they never even had is set to expire at the end of the year. If it does, homeowners who are forgiven any of their debt when they are foreclosed on will have to pay income tax on the forgiven amount.   Forgiven “Income” To Be Taxed It seems crazy, but it’s true: Normally, if a homeowner owes $100,000 on her mortgage, but the property sells in foreclosure for …