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Agencies Issue Final Rule on Appraisals for Higher-Priced Mortgage Loans

WASHINGTON–Six federal financial regulatory agencies today issued the final rule that establishes new appraisal requirements for “higher-priced mortgage loans.” The rule implements amendments to the Truth in Lending Act made…

2012 vehicle recalls topped 16.2 million

WASHINGTON, Jan. 18 (UPI) — U.S. safety regulators said automakers made 586 recalls totaling more than 16.2 million vehicles in 2012, slightly more than 2011 but less than 2010. The…

Housing starts rose sharply in 2012

WASHINGTON, Jan. 17 (UPI) — Residential construction starts and permits issued both rose sharply in 2012 over 2011, the U.S. Department of Commerce said Thursday. Project starts rose 28.1 percent…

U.S. Economic Delegation Travels to Mexico

A U.S. delegation will travel to Mexico City, Mexico, January 22-24, 2013, to discuss further strengthening the U.S.-Mexico bilateral economic relationship and increasing trade and the creation of jobs in…

The United States and United Kingdom Joint Statement on the Global Positioning System

The United States and United Kingdom issued a joint statement regarding Global Positioning System (GPS) Intellectual Property today which affirmed their commitment to ensuring that GPS civil signals remain perpetually…

U.S. Industrial Production Update

Industrial production increased 0.3 percent in December after having risen 1.0 percent in November when production rebounded in the industries that had been negatively affected by Hurricane Sandy in late…

Johnny Hernandez Named President Of Winnebago Industries Towables

FOREST CITY, Iowa, Jan. 16, 2013 /PRNewswire/ — Winnebago Industries, Inc. (NYSE:WGO), a leading United States (U.S.) recreation vehicle manufacturer, has announced the appointment of Johnny Hernandez to the position of president of Winnebago Industries Towables, reporting directly…

Iowa State computer, electrical engineers working to help biologists cope with big data

Iowa State computer, electrical engineers working to help biologists cope with big data

AMES, Iowa – Liang Dong held up a clear plastic cube, an inch or so across, just big enough to hold 10 to 20 tiny seeds. Using sophisticated sensors and…

Goldman Sachs and Morgan Stanley to provide $557 million in payments and other mortgage assistance to borrowers

Goldman Sachs and Morgan Stanley have reached agreements in principle with the Federal Reserve Board to pay $557 million in cash payments and other assistance to help mortgage borrowers. These…

USDA Finalizes New Microloan Program

Microloans up to $35,000 aim to assist small farmers, veterans, and disadvantaged producers MEMPHIS, Jan. 15, 2013—Agriculture Secretary Tom Vilsack on Tuesday announced a new microloan program from the U.S.…

Treasury Department announces full re-payment of TALF program

Term Asset-backed-securities Lending Facility (TALF) Helped Support Auto, Small Business, and Student Loans to Consumers and Businesses after Credit Markets Seized Up During the Financial Crisis WASHINGTON — Today, the…

Vilsack highlights “the unlimited potential of rural America” in speech

NASHVILLE, Jan. 14, 2013— During an address today to the American Farm Bureau Federation, Agriculture Secretary Tom Vilsack highlighted the unlimited potential of rural America, and also challenged rural Americans…

Federal Reserve issues cease and desist order to JPMorgan Chase Bank

WASHINGTON – The Federal Reserve Board on Monday issued two consent Cease and Desist Orders against JPMorgan Chase & Co., New York, New York (JPMC), a registered bank holding company.…

China claims its economy will “gather steam” in 2013

Official data suggests China’s economy will pick up in 2013, as the global economy is stabilizing and government measures and reforms have come into play, analysts said. The government announced…

Chinese man costs U.S. businesses $100 million in lost revenue; faces 25 years

WILMINGTON, Del. — A Chinese national pleaded guilty last week to conspiracy to commit criminal copyright infringement and wire fraud. The individual operated a website used to distribute more than…

USDA Announces Investments in Bioenergy Research and Development to Spur New Markets, Innovation, and Unlimited Opportunity in Rural America

KING OF PRUSSIA, Pa., Jan. 11, 2013—Agriculture Secretary Tom Vilsack visited a state-of-the-art bioindustrial facility at Renmatix today, where he announced $25 million to fund research and development of next-generation…

Lenders now required to protect home buyers from risky loan practices

WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) adopted a new rule that will protect consumers from irresponsible mortgage lending by requiring lenders to ensure prospective buyers have the…

China claims its economy is “stable”

Bullish trade data from China indicate that its growth is stabilizing, with analysts predicting that its stability will help to boost global economic growth. The annual growth of China’s foreign…

China reports growing trade relationship with Britain

Despite the difficulties brought about by the euro debt crisis and slowdown of the world economy, China and Britain have achieved exceptional growth in bilateral economic and trade relations in…

Feds want you to join Foreign Service

WASHINGTON – As part of an effort to continue to attract smart, dynamic, capable people into the Foreign Service, the Department of State is releasing a new one-minute trailer and…

NIACC’s Lifelong Learning Institute Offers Opportunities for Adults

NIACC’s Lifelong Learning Institute Offers Opportunities for Adults

MASON CITY – The Lifelong Learning Institute at North Iowa Area Community College (NIACC) announces the list of classes for the spring semester. Registration is open. Spring classes begin January…

Bill Richardson, Google Exec’s tour North Korean capitol

Former New Mexico Governor Bill Richardson traveled to North Korea this week on a private humanitarian mission. The delegation consisted of Governor Richardson, Google Executive Chairman Eric Schmidt, Dr. KA…

Feds issue rules to help mortgage borrowers

WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) issued final rules to strengthen consumer protections for high-cost mortgages and to provide consumers with information about homeownership counseling. The…

Inflation up 2.5% in China

China’s consumer price index (CPI) rose 2.5 percent in December from a year earlier, data from the National Bureau of Statistics showed Friday. CPI increased from 2 percent in November…

Federal Reserve offers $3 billion in 28-day term deposits through its Term Deposit Facility

On Monday, January 14, 2013, the Federal Reserve will offer $3 billion in 28-day term deposits through its Term Deposit Facility.  As noted in the Federal Reserve Board’s September 8,…

Iowa Utility Association Congratulates Alliant Energy and MidAmerican Energy on Awards for Work During Hurricane Sandy

DES MOINES, Iowa – Iowa’s two largest utilities are being recognized for their work to help restore electric and natural gas service to thousands of utility customers on the East…

North Korea calls for higher coal output

Pyongyang (KCNA) — The New Year address made by the dear respected Kim Jong Un greatly encourages coal miners in the DPRK to radically increase coal output from the outset…

Court will consider BP guilty plea agreement; $4 billion on the line

WASHINGTON – U.S. District Court has set a January 29, 2013 hearing to consider BP Exploration and Production, Inc.’s guilty plea agreement. U.S. District Court Judge Sarah S. Vance has…

Forbidden silence: Government may require electric cars to make noise

WASHINGTON – As required by the bipartisan Pedestrian Safety Enhancement Act of 2010 (PSEA), the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) is proposing that hybrid and…

Twin cities ponzi schemers sentenced to prison

MINNEAPOLIS— Last week in federal court, United States District Court Chief Judge Michael J. Davis sentenced three individuals in connection to the multi-million-dollar Ponzi scheme orchestrated by Trevor Cook. Jason…

Bank of America to pay $10 billion to settle loan claims

Bank of America to pay $10 billion to settle loan claims

From Bank of America –Jan. 7, 2013– Bank of America today announced agreements with theFederal National Mortgage Association (Fannie Mae) to resolve outstanding and potential repurchase and certain other claims relating to the…

Banks to pay $8.7 billion to settle loan claims

WASHINGTON–Ten mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing have reached an agreement in principle with the Office of the Comptroller…

Money laundering rooted out at Cincinnati Grand Prix

CINCINNATI—Curtis Boggs, 54, formerly of Harrison, Ohio, pleaded guilty in U.S. District Court to wire fraud and money laundering in connection with a scheme he promoted to bring a Grand…

North Korea says S. Korean Workers Greet New Year in Despair

Pyongyang (KCNA) — CBS of south Korea Tuesday deplored the south Korean workers who greeted the New Year in a despair. The broadcasting said that dismissed workers of Ssangyong Motors…

American Sleep Medicine to Pay $15.3 Million for Improperly Billing Medicare

WASHINGTON—Florida-based American Sleep Medicine LLC has agreed to pay $15,301,341 to resolve allegations that it billed Medicare, TRICARE—the health care program for Uniformed Service members, retirees, and their families worldwide—and…

Transocean to Pay Record $1 Billion in Civil Penalties and $400 Million in Criminal Fines

WASHINGTON – Transocean Deepwater Inc. has agreed to plead guilty to violating the Clean Water Act (CWA) and to pay a total of $1.4 billion in civil and criminal fines…

U.S. adds 155,000 jobs in December

WASHINGTON, D.C. -American businesses hired a modest number of workers this past Decemebr even as a fiscal cliff approached. The number of unemployed persons, at 12.2 million, was little changed…

Law firm must pay $30K for discriminating against deaf people

The Justice Department today announced a settlement agreement with Peroutka and Peroutka P.A., a debt collection law firm based in Pasadena, Md., to resolve allegations that the law firm violated…

Winnebago Industries Receives “Fully Meets” Classification from Ford Motor Company

FOREST CITY, IOWA, January 2, 2013 – Winnebago Industries, Inc. (NYSE:WGO), a leading United States (U.S.) recreation vehicle manufacturer, has once again received Ford Motor Company’s “fully meets” classification as…

Capital gains tax to make modest jump for wealthy investors under new law

WASHINGTON – Congress approved a new tax law Tuesday night that avoids the fiscal cliff for the near-term. Part of the agreement is a small boost in the capital gains…