| Sallie Mae names 2 new executives
RESTON, Va. (AP) - Student lender SLM Corp., better known as Sallie Mae, said Tuesday it named John Hewes executive vice president and chief credit officer and Jonathan Clark as senior vice president of corporate finance. In the newly created position, Hewes will oversee the company's private student loan underwriting policies and risk management. Hewes previously worked at MBNA, a credit card issuer. Clark will oversee Sallie Mae's unsecured debt issuance and treasury operations. He will also assist the asset-backed securitization team. Before joining Sallie Mae, Clark worked at Credit Suisse. Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. .
Sallie Mae names John Hewes chief credit officer and Jonathan Clark ...
RESTON, Va. - Student lender SLM Corp., better known as Sallie Mae, said Tuesday it named John Hewes executive vice president and chief credit officer and Jonathan Clark as senior vice president of corporate finance. In the newly created position, Hewes will oversee the company's private student loan underwriting policies and risk management. Hewes previously worked at MBNA, a credit card issuer. Clark will oversee Sallie Mae's unsecured debt issuance and treasury operations. He will also assist the asset-backed securitization team. Before joining Sallie Mae, Clark worked at Credit Suisse. .
Kerry's served with bankruptcy letter over her £1m debts
They warned her insolvency proceedings were going aheadand secured her two properties so they can be sold off to pay creditors. The big spending ex-Atomic Kitten singer and her husband, former drug dealer Mark Croft, have hired a team of insolvency advisors to help sort out their main debts. These comprise 700,000 claimed by the taxmanincluding an immediate 200,000 instalmentand 60,000 in loans and credit card bills. A close friend of the 27-year-old Iceland advert star said: "She was told she needed to pay 200,000 in tax by Christmas. She could lose everything." Yet last month Mark got a new 127,000 Ferraridespite having a Lamborghini, Aston Martin, Porsche 911 and Mercedes in the garage of their 1.2million home in Wilmslow, Cheshire. Now the property, where Kerry lives with Mark and her three daughters, could be sold to meet her debts.
Bank of America, Countrywide to Name Sambol to New Role
CHARLOTTE, N.C., Jan. 31 /PRNewswire/ -- Bank of America Corporation and Countrywide Financial Corporation today announced that David Sambol, Countrywide's president and chief operating officer, will lead the combined consumer mortgage business once Bank of America's planned purchase of Countrywide is complete. Sambol will continue in his current role, reporting to Countrywide Chairman and Chief Executive Officer Angelo R. Mozilo until completion of the transaction, which is targeted for the third quarter. In a related announcement, Bank of America Global Consumer and Small Business Banking President Liam McGee announced that Card Services Executive Bruce Hammonds will assume the newly created role of Global Consumer Credit Executive when the purchase closes. Hammonds, who will continue to report to McGee, will be in charge of all consumer credit products, including the consumer mortgage organization, Bank of America Card Services and unsecured lending.
Britons Face Billion-Pound Interest Payback
One in four people is struggling with their debts as Britons collectively face a 93bn annual bill for interest. At the same time, around three million people have taken out a debt consolidation loan to try to get on top of their borrowings. Borrowing through credit cards, loans, overdrafts and mortgages has hit almost 1.4 trillion, according to comparison website uSwitch.com. An estimated 9.5m people had "maxed out" on one form of credit during the past six months, while 38% have had a credit card application rejected, the group claims. But nearly two-thirds of these failed to close down their existing credit facilities, and instead went on to rack up a further 2,300 of debt on average. Overall, the research found that the average household has now amassed unsecured debts of 4,281.
Unsecured Internet purchases could prove disastrous
Students who regularly make online purchases from campus computers or from the university's wireless network might want to take some precautionary steps before punching in their credit card numbers. “If [students] are using the encrypted wireless [network], I think that's fine," said James Shook of Technology Support Services. “[But] I don't think I'd be doing that on the visitor's [network], which anyone can get on."Students can obtain a password for the secured wireless network at www.nss.appstate.edu. Appalachian State also offers free anti-virus software with built-in firewall and anti-spyware protection at www.antivirus.appstate.edu. Students transferring data should do so from secure Web sites, which are signified by “https" in the Uniform Resource Locator (URL) or a secure lock graphic, said Director of Technology Support Tom M.
Société Générale loses $7 billion in trading fraud
I do believe that the free, unbridled, greed driven pursuit of commercial banks playing in off-the balance sheet games with exotic financial arrangements is showing itself to be a recipe for disaster. I think we in the west and east need to have an honest and open discussion about regulation, national banking (possibly renationalizing as most are independent), usury, etc. Most banking, at least in the US, is done ultimately with the authority of the federal gavernemnt (Federal reserve system, corporate limited liability laws, etc.), and since [the US] is a republic, it in theory should be in the interest of the republic. It is questionable if this interest is being best served in the day to day operations of the current banking system Mark Wyatt www.siv0.com .
NextIO snags $18.8M of venture capital
Rather than IPO, Precision Therapeutics goes merger route [Pittsburgh] Taxpayer says a simple thank-you would help [Boston] Luminescent gets $9M new funding [San Jose] TC Angels does 6th deal, plans 2nd fund [Mpls./St. Paul] Arasor buys Novalux for $7M [San Jose] .
Senior center in Keizer seeks applicants for scholarship
Those with senior center ties looking for help with college tuition have their chance. Keizer/Salem Area Seniors Inc. are seeking applications for the groups second annual, $2,000 college scholarship. The recipient must be a child or grandchild of a current KSAS member. Applications are available from 8 a.m. to 4 p.m Monday to Friday at the front desk of the senior center, 930 Plymouth Drive NE, Keizer. Applications also will be sent upon request. Completed applications are due May 1. The winner will be awarded the scholarship June 1. For more information, call (503) 390-7441. Jillian Daley .
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