Today’s top news headlines feature the details of the Countrywide homeowner’s settlement and new ways Americans are making money by selling off their assets. Plus, find out why the most recent debt proposal may disproportionately affect women.

Consumers Sell Off Gold As Price Goes Up CNN Money The price of gold rose to a new high this week, and many consumers who are strapped for cash are selling family heirlooms, gifts and jewelry for additional income. However, the value of gold is expected to decline as the government approaches the deadline to raise the debt ceiling, prompting many individuals to sell off their precious metals before the price plummets. 

Homeowners To Get A Piece Of Countrywide $108 Million Settlement The Associated Press More than 450,000 borrowers who secured a mortgage through Countrywide Financial Corp. will receive their share of a $108 million settlement in the coming weeks. The Federal Trade Commission has agreed to divvy up this amount among homeowners who successfully sued the lender for imposing exorbitant fees to individuals facing foreclosure proceedings. The FTC says the lender charged fees that were well above market prices and made false claims about borrowers’ mortgage balances.

Debt Deal May Impact Women More Than Men The Washington Post Experts say the government’s proposal to slash certain benefit programs to resolve the national debt crisis may unfairly affect women more so than men. Cuts to programs such as Medicaid, Medicare and Social Security may negatively impact demographics that rely on them the most, such as single mothers and elderly women. In addition, the National Organization for Women says women have fallen behind in the job market, with males now surpassing females in regaining lost jobs. Cuts to social programs that keep many women afloat would only worsen their circumstances, the group contends.

CFPB May Bring More Transparency To Consumers Credit.com The Consumer Financial Protection Bureau will gain its full regulatory powers today, and many individuals may benefit from the increased transparency the agency is expected to provide. For example, the CFPB plans to simplify not only mortgage disclosures, but also make credit card terms and agreements more reader-friendly. The agency is also charged with fixing a slew of other financial issues that make it more difficult for consumers to navigate the credit system.

Similar Posts:

Share