Bank of America will pay $335 million to settle allegations of discrimination at Countrywide Financial Corp., the troubled lender it bought in 2008.
STATE – Winter officially begins at 12:30 a.m. on Thursday, Dec. 22, but gas prices haven’t cooled off much. Despite recent declines in prices at the pump, motorists will be met with the highest gas prices ever during the year-end holiday season, causing them to dig deeper in their wallets for holiday travel.
STATE – Over 2.2 million New Jersey residents will travel 50 miles or more from home for Christmas and New Year’s, according to AAA Mid-Atlantic projections, a slight increase over last year’s statistics. The 2011 year-end holiday travel period is defined as Friday, Dec. 23 to Monday, Jan. 2.
PARAMUS– As consumers flock to retailers during the holiday season and as the use of prepaid cards continues to expand rapidly, U.S. Sen. Robert Menendez (D-NJ) introduced this past Saturday, Dec. 17, The Prepaid Card Consumer Protection Act to curb hidden fees associated with many of these cards.
Despite high-profile media attention, the odds of having your credit or debit card number stolen by crooks remains at historically low levels. That said, it’s always good to know what to do in case lightening does strike and someone fraudulently uses your card.
STATE – New Jersey received low marks in a new report that looks at state spending on corporate tax credits, cash grants and other economic development subsidies that are supposed to foster job creation.
TRENTON – Lawmakers gave final legislative approval to a Democrat-sponsored bill to create a “Back to Work NJ” job creation and economic growth program on Thursday. The Senate passed the bill by a 24-13 vote; the Assembly approved the bill 47-32, along party lines, earlier this month.
TRENTON – A bipartisan bill which would create the “Grow New Jersey” program to provide tax incentives for companies which maintain existing employment levels and create new jobs in New Jersey received final approval in both the State Senate and the General Assembly on Thursday.
We’ve all suffered buyer’s remorse – say you buy something you really can’t afford or the item’s sudden drop in value make it seem, in retrospect, a poor investment. That’s what has happened to some people who’ve taken advantage of IRS rules that allow them to convert a regular IRA or 401(k) into a Roth IRA, only to discover later it may not have been the right strategy.
ISELIN–The Board of Directors of Indus American Bank elected Anil Bansal as their new chairman. Bansal continues as co-chairman of IA Bancorp, the holding company of the bank.