So, like NCAA rule breakers, credit card companies are offering gifts to recruits with high credit scores in return for opening new cards.
By April 25, forensic teams were able to confirm the scope of the personal data they believed had been taken, and could not rule out whether credit card information had been accessed.
No matter how useful, pleasant, legal, or logical, the rule of easy credit is a moral, cultural, economic, and political problem because it promotes and rewards fear avoidance on both a super-intimate and a socially comprehensive scale.
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Now, under a Fair Credit Reporting Act rule that took effect Jan. 1, lenders must either tell those who apply for credit exactly what score was used, or explain how credit reports were used if the applicant doesn't receive the best terms available.
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Greece has cleared another hurdle as it struggles to avoid default, going through with its highly controversial debt restructuring (dubbed PSI), and effectively forcing the International Swaps and Derivatives Association (ISDA) to rule, along with credit rating agencies, that the Hellenic Republic has indeed defaulted.
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Another problem, of course, is the elimination of the "up-tick" rule, a controversial SEC rule change last July (well-timed to the beginning of the credit market meltdown) that removed the rule that short-selling could only be done when a stock was rising.
Pertaining to the implementation of the law, Eisinger and Bernstein signal out three major areas for concern: the Volcker Rule, Derivatives regulation, and Credit Rating Agency regulation.
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The world's top credit card company wants to rule all electronic payments--once it overhauls its computers.
Corporations became heavy sellers of auction rate securities last year even before the credit crisis, because of accounting rule changes that made them less advantageous.
Taking some powers from the Fed and other bank regulators, this would have broad rule-writing and enforcement powers over mortgages, credit cards and the like.
Fitch said after Mr Osborne's announcement that the government's policy framework had been a key factor helping the UK to hold on to to its top AAA credit rating, and the loss of the debt rule had weakened both the coalition's credibility and the rating.
The point is not to rule out getting a better deal, based on assumptions about your credit score.
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The rule is one plank of a raft of new regulations, dubbed the Credit Card Accountability Responsibility and Disclosure Act of 2009.
This is because business development companies lie outside the purview of the Volcker Rule, and so Goldman will be well within the law to trade credit products through this vehicle, which will be funded nearly 25% by the bank itself.
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In the current crisis, where there is no real market, the rule has forced massive write-downs, which have precipitated solvency and counter-party credit concerns that have caused further write-downs.
To prevent a repeat of the credit crunch and market breakdowns we have witnessed over the past two years, extensive rule-making by the Securities and Exchange Commission, the Commodity Futures Trading Commission and the Federal Deposit Insurance Corporation, among others, will be necessary.
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