U.S. consumers are starting to look like a frugal, debt-fearing lot as
they pay down billions of dollars in credit-card obligations. But an
alarming trend is emerging: A small but growing number of people are
skipping mortgage payments in favor of paying their credit-card bills.
Hispanic and black businesses are receiving a disproportionately small
number of federal stimulus contracts, creating a rising chorus of
demands for the Obama administration to be more inclusive and more
closely track who receives government-financed work.
Two subsidiaries of American International Group Inc. have agreed to
pay $7.1 million to settle discrimination allegations of charging
higher fees to African American borrowers, the Justice Department
The unemployment rate held at 9.7 percent in February as employers shed
36,000 jobs, fewer than expected. The figures suggested the job market
is slowly healing but that significant hiring has yet to occur.
New York Gov. David Paterson might have won some time when he received
what has become rare support from influential black leaders as he tries
to ride out allegations in two scandals that threaten his job and led
to the resignation of three top staffers.
Citigroup Inc. Chief Executive Vikrim Pandit on Thursday publicly
thanked U.S. taxpayers for the $45 billion bailout that saved the
company during the financial crisis in 2008, as a congressional
watchdog panel examined the firm's finances and the government's
continued ownership stake.