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Archive for October, 2007
A Federal Trade Commission
By James Tam on October 4th, 2007
Insurance companies such as Allstate Corp. and MetLife Inc. say credit histories strongly correlate with a tendency to file more insurance claims, arguing that the practice lowers rates for consumers with decent or better credit. A Federal Trade Commission study released in July found that credit scores are effective at predicting the amount of insurance claims. It also found that blacks and Hispanics tend to have lower scores, which leads to higher auto insurance premiums.The report “confirms some of our initial concerns about the fairness of credit-based insurance scoring when it comes to Latinos and African-Americans,” Rep. Luis Gutierrez, D.-Ill., said in a statement.
Read this entire article on businessweek.com
The Effects of Emission
By James Tam on October 1st, 2007
Many motorists face high running costs due to the relative inefficiency of their car’s engine. It follows, therefore, that engines where efficiency is higher and emissions much lower will typically be much cheaper to run. Lower emissions mean your vehicle tax is cheaper. This is because current pricing strategy for vehicle tax in the UK rewards environmentally-friendly cars. Since March 2001 vehicle tax is calculated by taking into account the emissions of the vehicle in terms of grams of CO2 produced per kilometer, or g/km. put simply, the less CO2 your car churns out, the less vehicle tax you pay.
Read this entire article on PR-GB.com
The Federal Deposit Insurance Corporation
By James Tam on October 1st, 2007
Georgia-based NetBank suffered severe losses in the year 2006 primarily from mortgage defaults, a lack of proper risk controls and fewer home loan originations, according to a bankruptcy court filing. It follows the rescue of British mortgage lender Northern Rock earlier in September by the Bank of England after the UK bank could not access affordable finance to fund its business. The Federal Deposit Insurance Corporation (FDIC), a scheme set up to offer compensation to US savers, said NetBank clients with insured deposits would simply have their accounts transferred to ING, which they would be able to access normally using online services on Sunday evening.
Read this entire article on news.bbc.co.uk
