Citigroup, Homebuilders in Talks to Let Judges Modify Mortgages
Citigroup Inc. is leading other lenders in advanced talks with key senators on legislation that would allow judges to set new repayment terms for millions of mortgage holders who file for bankruptcy… Read More

Gentler Tax Laws Urged on Debt Default
The National Taxpayer Advocate yesterday urged Congress to ease certain tax laws governing defaults on mortgages, credit cards and other consumer debt to help Americans who are struggling in the economic downturn… Read More

Consumer Loan Delinquencies Increase to Highest Level Since 1980
Mounting job losses resulted in a surge of late payments to consumer loan accounts, Forbes.com reported, as the American Bankers Association yesterday issued a report that showed the number of delinquent accounts in the third quarter rose to the highest level since 1980… Read More

Coal Company Files for Chapter 11
Facing a tough economy and rising costs, Clearwater Natural Resources LLC, a leader of U.S. coal-mining operations in central Appalachia, has filed for bankruptcy along with two affiliates… Read More

Study: 2008 Left Many Pensions Underfunded
A study by the the Mercer consulting firm showed that the collapse of the stock market last year left corporate pension plans at the largest companies underfunded by $409 billion, reversing a $60 billion pension surplus at the end of 2007… Read More