HSBC Suspends U.S. Foreclosures over Documentation
Banks' paperwork problems aren't over: In its annual report, HSBC Holdings said it has suspended foreclosures in the U.S. after a government review found documentation problems.
paperwork
The New Bank Stress Tests Show Just How Serious the Mortgage Mess Is
This week, the Congressional Oversight Panel recommended that the nation's big banks be stress tested again, because if problems with mortgage-backed securities are widespread, the consequences could be dire. Now, the Fed has agreed to run those tests, which it wouldn't do if it wasn't worried.
Tax Rule Will Bury Small Businesses in Paperwork
Today, businesses must send 1099 forms to people they pay $600 or more for services rendered. It's a simple way to make sure workers report their income to the IRS. But starting in 2012, businesses will have to send 1099s to other companies too, for virtually every product or service they purchase.
