Credit Slips: Why Is This Legal? Turns out she had a car loan with Volkswagen with an interest rate of about 3% and a loan balance of approximately $23,000.00 Because she had her home mortgage with Wells Fargo (or at least that is what she thinks is the reason) she received an offer from Wells Fargo for an equity loan on her car!

UK: The Financial Services Authority (FSA) Launches Discussion Paper (DP) on Increasing Transparency | Blog Detail | InsureReinsure.Com | The Insurance & Reinsurance Blog UK: The Financial Services Authority (FSA) Launches Discussion Paper (DP) on Increasing Transparency

Securities Law Prof Blog: SEC Proposes Rule on Interactive Data to Improve Financial Reporting The SEC has published for comment proposed rules requiring companies to provide financial statement information in a form that would improve its usefulness to investors. Under the proposed rules, financial statement information could be downloaded directly into spreadsheets, analyzed in a variety of ways using commercial off-the-shelf software, and used within investment models in other software formats.

Conglomerate Blog: Business, Law, Economics & Society …To calculate the dollar Libor rate, the British Bankers’ Association (the BBA), has a panel of 16 banks report their borrowing costs. Some believe that these banks may be submitting artificially low borrowing costs in order to avoid appearing cash strapped.

reportonbusiness.com: Fund companies should bolster disclosure: OSC Mutual fund companies must bolster their disclosures to investors and more clearly explain major changes that impact fund returns, the Ontario Securities Commission said in a notice issued Friday.

Credit Slips: What is the Difference Between a Crack Dealer and a Creditor Soliciting a Bankruptcy Debtor? The crack dealer leaves you alone once you’re broke, right?

Credit Slips: Credit Card Debt Absent the Mortgage Bubble but for the mortgage bubble, we’d be seeing much higher levels of credit card debt (and that’s where we’re headed).

The mortgage bubble of the past few years was largely a refinancing bubble, not a purchase money bubble (much less a first-time homebuyer bubble). When people refinanced, they were not just refinancing their mortgages. They were also refinancing their credit card debt.