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Administration sends Congress consumer legislation (AP)

AP - President Barack Obama asked Congress on Tuesday to create a new agency to police the fine print on credit card bills and mortgage documents and determine what fees, penalties and interest rates are fair.

Treasury OKs 3 firms for mortgage relief program (AP)

AP - The Treasury Department said Tuesday that it has approved three more firms for its mortgage relief program.

Obama admin. sets wide scope for consumer agency (Reuters)

Reuters - The Obama administration sent Congress a draft bill on Tuesday to create a new agency with sweeping powers to impose tough consumer protection rules for banks, mortgage lenders and other financial firms, setting up a summer-long political brawl over the plan.

Chase: 138k mortgages modified in past 3 months (AP)

AP - Chase said Tuesday it has approved 138,000 trial mortgage modifications for struggling homeowners in the past three months.

Protesters demand mortgage help from loan firms (AP)

AP - Protests are planned in more than a dozen cities across the country to demand that a group of mortgage companies who benefited from federal bailout money participate in a government program designed to prevent foreclosures.

Fed Holds Rates Steady (BusinessWeek Online)

BusinessWeek Online - With signs the economy is improving but still fragile, Federal Reserve policymakers held the Fed funds rate steady -- at zero to 0.25% -- on June 24, and maintained its pace of purchases of government debt at mortgage-backed securities.

Thinking of Switching Financial Planners? (BusinessWeek Online)

BusinessWeek Online - You've got a dirty little secret. During long lunch breaks, or after work when everyone else heads home to their families, you're sneaking out to a secret rendezvous. You know what you're doing is perfectly justified, but you still feel a little bad afterwards. You never thought it would come to this. But here you are -- cheating on your financial planner.

Fed Holds Rates Steady (BusinessWeek Online)

BusinessWeek Online - With signs the economy is improving but still fragile, Federal Reserve policymakers held the Fed funds rate steady -- at zero to 0.25% -- on June 24, and maintained its pace of purchases of government debt at mortgage-backed securities.

Thinking of Switching Financial Planners? (BusinessWeek Online)

BusinessWeek Online - You've got a dirty little secret. During long lunch breaks, or after work when everyone else heads home to their families, you're sneaking out to a secret rendezvous. You know what you're doing is perfectly justified, but you still feel a little bad afterwards. You never thought it would come to this. But here you are -- cheating on your financial planner.

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