Senate approves consumer bureau plan to curb confusing credit terms
The Senate passed a broad financial reform bill creating the Bureau of Consumer Financial Protection to simplify terms, improve disclosures, and curb hidden charges. Advocates say clearer contracts will boost informed decisions and competition, while critics warn of higher costs and fewer product choices.
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Goldman to pay 550 million in SEC mortgage fraud settlement
Goldman Sachs agrees to a 550 million civil settlement with the SEC over misled investors in mortgage related securities. The deal includes 300 million in fines and compensation for investors who lost money, without admitting wrongdoing.
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No conclusions in Toyota acceleration probe
The government said it has not reached conclusions on driver blame for sudden Toyota acceleration. NHTSA, NASA and National Academy of Sciences researchers continue the investigation as Toyota recalls exceed 8.5 million vehicles worldwide for faulty accelerators, floor mats, and brake issues.
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