darby-direct.com paying 3.00% APY

I came across darby-direct.com this week and decided to open an online savings with them.  They are paying 3% compared to HSBC’s 1.65% I’m currently getting.  So far I’ve had no problems  except when calling and getting someone.  They say they were not prepared to handle the mass amount of applications they were getting after […]

November 2008 Financial Highlights

 November 2008 compared to November 2007, profit margin dropped from 45.18% to 6.17%.  While 6.17% is still positive, my goal is 15% to 20% profit margin.  This would be how much money I have after all expenses are paid.
Revenue increased 16.40% during the past 12 months.  We’ve been trying to build a stronger cash position […]

November 2008 Financial Status

Below is my income statement & balance sheet for November 2008.  I’m a little late at getting it out but it’s out.  With this being the first time in months that I’ve tracked my finances I really don’t have much to compare them to at the moment.
Income for November was $1,730.50.  Misc. Income was from […]

HSBC online Savings Rate still 3.00% APY

My wife and I have had a HSBC online savings account for several years now.  She has had it before we got married.  A few weeks ago when the FED’s cut rates I was sure the HSBC savings rate would fall accordingly, but surprisingly it has continue to stand at 3.00%
FNBOdirect.com cut their rate from […]

Health Savings Account w/ a high deductible

Today I signed up for a health savings account with my employer and opted for the $2,600 deductible.  My premium is only $20 per month now.  I used to be on a $750 deductible and my premium was $60 per month.   The $40 difference in premium I’m transferring to my Health Savings Account (HSA) to […]

Camp out in Chicago - It’s union workers

Over 200 employees that work at Republic Windows and Doors factory in Chicago are having a sit-in.  They say they are not leaving without assurance they will be paid the severance and vacation pay owed to them.
Factory workers were given 3 days notice that the factory would be closing down.   Workers blame Bank of […]

DNP Select Income Fund (NYSE:DNP)

I’ve been watching DNP Select Income Fund for a while now.  Dividends have been paid since 1989 on a monthly basis.  They primarily invests in a diversified portfolio of equity and fixed-income securities of companies in the public utilities industry.  Today it closed at $6.58/share for a dividend yield of 11.85%.  This stock held nicely […]

How can GM become profitable again?

I saw in the headlines today that GM is asking for $10 BILLION in government aid to merge with Chrysler. Seems like this country is getting more socialistic everyday. It’s not the governments place to fund acquisitions or to bail out companies because they cannot compete with the world.
I know people come back […]

Overdraft Charges, What’s the big fuss?

Just the other day when surfing ripoffreport.com I came across a complaint about overdraft charges. I then searched the site to see how many complaints there were about overdraft charges. THERE WERE 855 MATCHES IN THE SEARCH! I scanned through some of the headlines and not all are exactly about overdrafts, but a good many […]

Major Consumer Lending Laws & Regulations

Below are some of the most important consumer lending laws to be passed.
1934 - Securities & Exchange Act, FRS Regulations T, U, X
1968 - Truth in Lending Act (TILA), FRS Regulation Z
1971 - Fair Credit Reporting Act (amended by the FACT Act, 2003)
1973 - Flood Disaster Protection Act
1974 - Real Estate Settlement Procedures Act (RESPA), […]

Federal Reserve System Regulations

Below are the Federal Reserve System’s Regulations from “A to FF”. If you want a description of each you can click here and go to the FRB website.
A - Extensions of Credit by Federal Reserve Banks
B - Equal Credit Opportunity
C - Home Mortgage Disclosure
D - Reserve Requirements of Depository Institutions
E - Electronic Funds Transfer
F […]

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