Over at CommunityLend we are excited about the launch of a new service today called Financeit.ca.  Financeit.ca is a service for home improvement dealers that provides them with what we believe will be the easiest online application process in Canada.  Here is the press release. The concept is for a platform that provides an effective means of originating borrowers are point of sale, and home improvement is the first roll out.  The lending is provided by lenders at Communitylend. Technorati Tags: financeit.ca,communitylend. dealer financing,purchase financing,P2P Lending Continue reading New Sales Finance Platform Financeit.ca Launches to Help Increase Sales for Canadian Home Improvement Companies

This highlights the significance of one key aspect of Basel 3.  The key part is that: Global accord targets credit bubbles | ft.com The agreement, struck last month, says that if a country decides its economy is overheated – based on the ratio of credit to gross domestic product – it can require banks within its borders to hold extra capital against potential losses. Thus if your central bank decides the economy is being overheated and too much debt is being doled out, then the collective wrath of your own central bank and the others in the world will befall … Continue reading Basel 3 has significant power to restrict banks and Canada shows indications of that

Detailed and country specific assessment of sovereign debt from Wm Buiter of Citi (ex Financial Times).  Its on this page entitled “The Debt of Nations” under citigroup publications or direct here. Its 84 pages but easy to locate your country.  In any event all advanced economy countries are in trouble to some extent with particular extra points to US, Japan, Ireland and Greece.  He notes that US is relatively worse than Greece.  Higher interest rates anyone? If you want a condensed version Tyler at ZeroHedge has here at ZeroHedge. Technorati Tags: Economics,interest rates,Buiter,Citi,Zerohedge,US,Ireland,Japan,Greece Continue reading “The Debt of Nations” | Buiter Citi

In the latest on the ‘chain of title’ issue reported in October, the latest Supreme Court decision in Massachusetts upholds the decision that Wells and US Bank had lost their right of claim against mortgages they owned. US foreclosure ruling to reverberate | ft.com The Massachusetts Supreme Judicial Court upheld a lower court ruling that Wells Fargo and US Bancorp did not have the right to claim the homes because they could not prove they owned the mortgages at the time of foreclosure This goes back to one of the many flaws in wholesale product design (bank to bank) that … Continue reading Wells Fargo and US Bank cannot prove they have valid mortgages | Supreme Court

This is a game changer if the US Commerce Department can pull it off.  (ht James Van Dyke at Javelin) Internet Identity System Said Readied by Obama Administration | Bloomberg For example, once the system is in place, Google would be able to join a trusted framework that has adopted the rules and guidelines established by the Commerce Department. From that point, someone who logged into a Google e-mail account would be able to conduct other business including banking or shopping with other members of the group without having to provide additional information or verification. This means that users of … Continue reading National Strategy for Trusted Identities in Cyberspace (NSTIC) | is it for real?

Google is reported to be building an NFC wallet that will be incorporated into Android software.  (ht Dave Birch) Google Building an NFC Mobile Wallet; U.S. Banks Are Interested | NFC Times Google is building a mobile wallet nicknamed "Cream," which it plans to integrate with Android NFC phones that consumers could tap to pay in stores, sources told NFC Times. Among banks showing strong interest is U.S.-based Citigroup I had read elsewhere earlier that Apple plan to include NFC capability into the iphone too. Technorati Tags: payments,NFC,android,iphone Continue reading Google reported to be building an electronic wallet