Legislators in 16 states across the U.S. have proposed banning pre-employment credit checks. Lawmakers say the checks discriminate against people with debt problems, precluding them from finding a job. The companies that use the credit checks say they are good indicators of a prospective hire’s level of responsibility.

Originally intended to help consumers fight predatory practices in the credit card industry, the Credit Card Accountability Responsibility and Disclosure Act might have some unintended results, including lost credit card accounts and an increase in payday loan consumership.

Mortgage loan rates in the U.S. last week fell below five percent. The sharp drop spurred more demand for mortgage loans, which had hit a 13-year low during the prior week. These fluctuations come after a home sales slump in January largely caused by harsh winter weather.

The country’s mortgage delinquency rates dropped to 9.47 percent in the fourth quarter of 2009. Even more remarkably, the number of borrowers just 30 days behind dropped significantly as well. These statistics may indicate that the foreclosure crisis in the United States is finally drawing to a close.

Online Finance News

OnlineQuotes.com provides finance-related news to keep you up-to-date on the latest developments in the financial services sector in your area and across the nation. You will find valuable information that could save you money on your next major loan, insurance purchase, debt consolidation service, and more! Find out what's new so you can take advantage of fluctuating interest rates, refinancing options and available incentives. At OnlineQuotes.com, we do the research for you to ensure you don't miss out on a single opportunity.