Lawmakers seek tighter oversight of credit raters (AP)
AP - Lawmakers on Tuesday proposed tightening oversight of Wall Street’s credit rating agencies as regulators move to reshape supervision of the industry widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities. More Info…
AP - The state Court of Appeals ruled Tuesday against Wal-Mart Stores Inc. and its efforts to get a $33 million tax refund, upholding a trial judge’s ruling that found a complex corporate structure was used primarily to avoid corporate income taxes. More Info…
AFP - US housing construction starts and permits slumped to fresh lows in April, government data showed Tuesday, but analysts saw a ray of hope in a rebound in the key single-family home sector.
AP - Beazer Mortgage Corp., which ceased operations more than a year ago, will refund $2.5 million to more than a thousand borrowers in North Carolina as part of a settlement over claims the Atlanta-based company violated state lending laws, state banking and company officials said Tuesday. More Info…
