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Wells Fargo Lays Off Mortgage Workers. Why? Rising Rates.

"Wells Fargo & Co. ( WFC ), the fourth-largest bank in the U.S. by assets, will cut 2,300 mortgage-related jobs across the U.S. as higher interest rates slow down refinancing activity. Wells Fargo has reportedly provided a 60-day layoff notice to 2,300 employees in its home-lending unit based in Iowa as it braces for a further drop in demand for new mortgages. The San Francisco-based company had 274,300 employees at the end of the recent second quarter. Wells Fargo is the largest originator of home mortgages in the U.S. and under a federal program, has the mandate to originate, underwrite, and certify mortgages for FHA insurance." Continue reading →

Continue ReadingWells Fargo Lays Off Mortgage Workers. Why? Rising Rates.

Wells Fargo Lays Off Mortgage Workers. Why? Rising Rates.

"Wells Fargo & Co. ( WFC ), the fourth-largest bank in the U.S. by assets, will cut 2,300 mortgage-related jobs across the U.S. as higher interest rates slow down refinancing activity. Wells Fargo has reportedly provided a 60-day layoff notice to 2,300 employees in its home-lending unit based in Iowa as it braces for a further drop in demand for new mortgages. The San Francisco-based company had 274,300 employees at the end of the recent second quarter. Wells Fargo is the largest originator of home mortgages in the U.S. and under a federal program, has the mandate to originate, underwrite, and certify mortgages for FHA insurance." Continue reading →

Continue ReadingWells Fargo Lays Off Mortgage Workers. Why? Rising Rates.

Bitcoin Roundtable: Jeff Berwick, Trace Mayer, Jason Burack and Gabe Sukenik

"Trace Mayer, JD is an angel investor in Bitcoin and Bitcoin companies and he also runs RuntoGold.com and HowtoVanish.com. Get your free beginner's ebook about Bitcoin by Trace Mayer here: https://www.coindl.com/page/item/242 Jeff Berwick is a tech entrepreneur, investor and businessman who has founded many successful companies. Gabe Sukenik is a director at the Bitcoin startup Coinapult which is involved in the Bitcoin supply chain. Jason Burack runs the podcast Wall St for Main St you can visit the website here: http://www.wallstformainst.com/" Continue reading →

Continue ReadingBitcoin Roundtable: Jeff Berwick, Trace Mayer, Jason Burack and Gabe Sukenik

Rob McEwen Interview: On Gold Prices, Gold Miners And Bitcoin

"I don’t see why Bitcoin can’t also grow and become another viable currency, an internet based currency. If enough people accept it, it will be used. It seems to have momentum behind it and it’s intriguing how it’s truly separate from any country or central banks’ manipulation and control. There will be growing pains, like the guy who lost money out of his electronic wallet because he left his computer on all night. Also, Bitcoin will spawn competitors, alternative digital currencies. I think it’s a mistake to write off this currency as a bubble or fad. Will it threaten gold? I don’t think so. I think the two will grow in tandem as alternative currencies to fiat currencies." Continue reading →

Continue ReadingRob McEwen Interview: On Gold Prices, Gold Miners And Bitcoin

Bitcoin wallet service to issue refunds after users’ funds stolen

"A widely used Bitcoin wallet service plans to issue refunds to people who saw their bitcoins stolen as a result of a weakness in its application. Blockchain.info, which has a Web-based service called My Wallet, has also upgraded its application after finding a vulnerability similar to one discovered earlier this month in some Bitcoin wallet programs running on the Android mobile OS. Interest in Bitcoin has surged since its debut just four years ago. The system offers a low-cost way to transmit virtual currency over the Internet, and many companies and entrepreneurs are working to solve concerns around how to safeguard bitcoins from hackers." Continue reading →

Continue ReadingBitcoin wallet service to issue refunds after users’ funds stolen

Buttercoin Uses Bitcoin To Attack The $500B-A-Year Remittances Economy

"The World Bank estimates that migrants will send about $515 billion to relatives in developing countries by 2015, which is about 10 times the size of the U.S.’s budget for foreign aid. The old stand-bys like Western Union can charge around 10 percent for transactions in the market, an amount that Buttercoin co-founders Cedric Dahl and Bennett Hoffman find obscene. Buttercoin plans to open in India within the next three months and then to operate in six countries in nine months’ time. When they enter a market, they pair with local money transfer businesses to have legal compliance in the country." Continue reading →

Continue ReadingButtercoin Uses Bitcoin To Attack The $500B-A-Year Remittances Economy

PayPal unfreezes $45,000 cancer donation after media investigation

"A $45,000 donation for an Auckland man's cancer treatment has finally been released by electronic payment firm PayPal. The company, which processes online transactions, put a hold on the donation after it was picked up by its money-laundering filters. The money was meant to fund private chemotherapy treatment using an expensive new drug for Justin Crockett, who has an aggressive brain tumour. Mrs Crockett rang PayPal without success and said she felt 'helpless' and 'stressed out'. 'I just think it's a bit appalling that they have that power to freeze it. It's not their money. People shouldn't be put through this stress.'" Continue reading →

Continue ReadingPayPal unfreezes $45,000 cancer donation after media investigation

Five surprising facts about Bitcoin

"This has been a big year for Bitcoin. At the start of the year, interest in the virtual currency was largely limited to technology buffs. Then the price rose more than 10-fold, prompting regulators, investors and the general public to take a closer look. To help policymakers get up to speed, the Mercatus Center, a libertarian think tank, has published a new primer on the technical, economic and legal issues raised by the currency. Here are five of the most interesting observations that the authors, Jerry Brito and Andrea Castillo, make about Bitcoin." Continue reading →

Continue ReadingFive surprising facts about Bitcoin

Bitcoin takes off — on the ground in Berlin

"Across the Spree River on Berlin’s north side, Aaron Koenig dons a bowler cap as he welcomes guests to an industrial co-working space for the second Berlin Bitcoin Exchange (BXB) — a monthly event he founded to allow buyers and sellers to meet face to face and exchange Bitcoins for euros, dollars or otherwise. Both June and July’s exchanges drew a fluid crowd of about 50 people, with plans to expand the event into a maker’s market where visitors can spend their Bitcoins right after purchasing them. Koenig said growing problems with the euro mean the benefits of Bitcoin are beginning to outweigh the risks." Continue reading →

Continue ReadingBitcoin takes off — on the ground in Berlin