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12/25/2008 News For: Variablr AnnuitiesDon't let scam artists cash in at your expense Think of a headline about the financial crisis, and criminals have found a way to exploit it. Bad credit? Bank problems? Home foreclosures? Each of these, and many more, comes with a matching scam, helping make today one of the most fertile periods ever for rip-offs. J.G. Wentworth completes $75M notes deal J.G. Wentworth said Monday that it completed a $74.6 million securitization of structured settlement and annuity backed notes. Banking and Financial On December 17, 2008, the SEC approved Rule 151A granting the SEC the authority to regulate certain indexed annuity products. Fight back against falling rates Pensioners who use bank and building society accounts to boost their retirement income saw their interest payments halve in 2008. The devastation caused by the 3.5 percentage point drop in base rate from 5.5 per cent to 2 per cent during 2008 means they earn less than ?25 a month before tax on savings of ?10,000 in easy-access high street accounts. Regulators May Ease Reserve Rules as Insurers? Options Dwindle Dec. 19 -- State insurance regulators are seeking to ease reserve requirements for life insurers, increasing the companies? liquidity as investors and banks curtail funding of the industry. Business Briefs San Luis Trust Bank is holding its third annual Warm Coat Drive and is participating in the Secret Santa Program through today. |