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- Penalty Rate
- a higher than normal rate of pay awarded for work performed outside normal working hours
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- Why Credit Card Regulation Is Broken
- Until recently, regulators routinely looked the other way as credit card issuers ensnared unwitting consumers with huge finance charges and penalties. So how did credit card regulation become so broken? Here's a brief history of the slippery practices of the industry. How...
- Articles 2009-04-15
- Reforming the Credit Card Industry
- Consumers should be able to use plastic without getting skewered by unfair bank practices. Although the Federal Reserve passed new regulations to reform the industry, many consumer groups argue the Fed failed to complete the job. Here's a list of additional reforms needed to make credit cards fairer for consumers....
- Articles 2009-04-15
Additional Resources
- Old Credit Card Tricks Are New Again
- Since Congress enacted the consumer-friendly credit card law back in May, you'd think that the cardcos would have at least started to roll back all those bad practices that it bans. You'd think. After all, if you knew you were starting Weight Watchers on Monday, wouldn't you stock...
- Blog posts 2009-11-02
- Biovail to pay record OSC penalty
- Biovail Corp. has agreed to pay a $5-million penalty and costs of $1.5-million to the Ontario Securities Commission after it admitted misleading investors in its financial disclosure. Under the settlement, approved Friday by a panel of OSC commissioners, Biovail acknowledged that some of its financial filings in 2001, 2002 and...
- News items 2009-08-07
- Why We Need a New Agency to Protect Consumers
- Harvard Law professor and TARP overseer Elizabeth Warren explains why Obama's proposed new watchdog would help bankers as much as consumers. Unlike many other consumer crusaders, Warren had the clout to get her ideas taken seriously. The head of the congressional panel overseeing ...
- Articles 2009-07-10
- On the Relationship Between the Very Short Forward and the Spot Interest Rate
- This paper revisits the relationship between the forward and the spot interest rate. In contrast to much of the literature the paper investigates the very short maturities. The "tomorrow next" rate is the forward interest rate, but has the same maturity as the overnight rate. The authors' estimate an asymmetry...
- White papers 2004-02-25
- A Guide to the 2005-06 Bonus/Penalty Scheme
- WorkCover Corporation introduced the Bonus/Penalty Scheme in July 1990 to provide a financial incentive for employers to prevent and reduce the cost of workplace injuries. WorkCover has adopted a scheme that will adjust the base industry rate of a business location depending on its workers compensation claims experience. Actual claims...
- White papers 2005-05-01
- Roll call: House passes marriage penalty relief measure
- On July 20, by a vote of 271 to 156, the House approved the bill (HR 4810) to relieve the marriage penalty in the current income tax code. The measure represented a compromise between the House and Senate versions by adopting the House's more modest bracket adjustment (subsequently eliminating the...
- Research articles 2000-08-04
- Citigroup faces $70 million Fed penalty
- WASHINGTON -- The Federal Reserve announced Thursday a $70 million penalty against Citigroup Inc. and a subsidiary regarding practices related to borrowers taking out riskier, higher-interest rate "subprime" personal and home-mortgage loans. New York-based Citigroup, the nation's largest financial institution, and its Baltimore-based subsidiary CitiFinancial Credit Co., a...
- Research articles 2004-05-28
- Westar Energy, Inc., Q4 2007 Earnings Call Transcript
- Question-and-Answer SessionOperator Operator Instructions. Our first question will come from the line of Bill Apasellie sp with City Investment Research. Please proceed. Greg Gordon – City Investment Research Good morning. Hi. It’s actually Greg Gordon. How are you? One technical question. Can you state the amount of the auction-based...
- Earnings calls 2008-02-29
- Fitch: Stable Ratings Anticipated for Most U.S. Auction-Rate Student Loan ABS
- NEW YORK -- Continued disruption in the auction-rate market has resulted in a historic number of auction failures causing a number of U.S. ABS trusts containing auction-rate paper to hit their available funds caps for prolonged periods of time. Despite this protracted dislocation, student loan ABS trusts with auction-rate debt...
- Research articles 2008-03-10
- Chambers compromise on marriage penalty relief, Senate refuses to halt Antiquities Act land-grabs
- The conference-reported compromise of the bill to alleviate the marriage penalty adopted the House's more limited tax breaks, but accelerated the rate at which the cuts would be implemented. The measure gained support in the House, but neither chamber has enough votes to override the veto that President Clinton has...
- Research articles 2000-08-04
- Robitaille adapts to role as Flyers penalty killer
- There's a long list of things coach Ken Hitchcock wants to change in the way the Flyers play this season. Hitchcock wants more scoring from his third and fourth lines. He wants more flexibility from his players in doing the odd chore now and then. And he especially wants a...
- Research articles 2006-09-22
- Marriage penalty bill.
- A bill in the Senate to abate the marriage penalty is less likely. The measure has three main easings for two-earner married couples: The standard deduction for joint return filers would be increased after this year so it would be twice the amount...
- Research articles 2000-04-14
- No Shortage Of Comment On Proposed Credit Card Disclosure Rules
- The Federal Reserve has received more than 1,800 comment letters, most from consumers, on its plan to overhaul credit card disclosures. Among the Fed's proposals is new formatting for such disclosures and a requirement that a credit card issuers provide cardholders with 45 days' notice before a penalty rate hike....
- Research articles 2007-11-26
- Northern Rock in penalty storm
- THE Northern Rock Building Society has been criticised for introducing retrospective penalties for customers who wish to redeem their mortgages. Up to 170,000 borrowers are affected. From 1 July the society imposed a two-month penalty on existing customers wishing to pay off their standard variable-interest-rate mortgages within...
- Research articles 1995-07-16
- ECB pumps out EUR 3.9bn as banks feel strain
- By Sean Farrell The European Central Bank lent $3.9bn (2.7bn) at its penalty rate on Wednesday, signalling that money markets may still not be providing enough funding for the European banking system. The amount lent to one or more anonymous borrowers was the highest for almost...
- Research articles 2007-09-28
- Regular Rate Checklists And Policy Guidance For Overtime Pay
- Complying with federal wage and hour laws can be difficult, and the penalty for failing to follow the rules can be harsh. The area that causes employers the most difficulty is probably overtime pay. To figure out when an employee is eligible for an increased rate of pay because of...
- Tools & templates 2004-03-01
- Penalty for EI abusers - Income Issues - Employment Insurance - Brief Article
- OTTAWA -- Human Resources Development Canada plans to charge interest on Employment Insurance debts owed by people who have knowingly abused the system. Under the change, debts arising from misrepresentation by EI claimants, employers or third parties would be charged interest. The intent is to encourage debtors to pay more...
- Research articles 2002-04-15
- Citigroup: Not the Reaction a Bailout Should Get
- James Cullen submits: Going back to Walter Bagehot, Central Banks should lend without limit at a penalty rate during a crisis. That rate should hurt, but it is better than no access to credit. To do otherwise is to shortchange taxpayers, and place the value of the Dollar at...
- External links 2008-11-26
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