Retail giant Wal Mart in going into the financial services business. They will open 500 Money Centers inside of their retail stores.

Wal Mart plans to offer low cost check cashing, bill payment services, and money transfers.

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The Senate Democrats want to pass legislation that would benefit small business during these difficult economic times. The legislation would allow the government to offer 30 billion in loans and also provide tax breaks to small business which should create jobs in the country.

Republicans are blocking the legislation from moving forward. They want to offer amendments and they say that this is nothing more than a government bailout.

The New York Times has more details on this story.

Once again, the government was involved in making it difficult for African Americans to be successful in this country.

CNN has an interesting post regarding the Pigford Case which established a longstanding pattern of discrimination at the U.S. Agriculture Department against African-American farmers who had applied for farm loans and support from federal programs.

The farmers settled the case with the government, but Congress has not come up with the money to pay the African Americans for experiencing racial discrimination.

To read more about this story, go to CNN.com.

Toyota Motor Corp. which owns Lexus has announced a recall of 2010 model year Lexus GX 460 SUVs. The recall is related to an increased risk of rollover.

The recall covers approximately 9,400 SUVs. The vehicles are in the United States.

Consumer Reports was the first to report the problem. The magazine urged car shoppers not to buy the GX 460 until the problem is fixed.

Toyota says Lexus dealers will update software which controls the Vehicle Stability Control, or VSC.

VSC, also commonly called Electronic Stability Control (ESC), is a computerized system that controls the brakes and accelerator to help maintain vehicle control in abrupt maneuvers.

The software updates required to fix the problem will be available by the end of April. Toyota is offering free loaner vehicles to GX 460 owners who do not want to drive their vehicles because of the problem.

Owners of the GX 460 will be asked to bring in their vehicles at the end of April. The work is expected to take no more than one hour per vehicle.

Operation Hope which is a non-profit, public benefit organization, was founded immediately following the civil unrest of April 29, 1992 in Los Angeles.

HOPE is an American provider of economic tools and services. HOPE is an effective facilitator, lender, advocate and educator for and on behalf of the other America.

The workshops will include:

1. Budgeting
2. Understanding Your Credit Score
3. Permanently Removing Derogatory Credit From your Credit Report
4. Paying Off Debt And Saving Money
5. How To Settle For Pennies On A Dollar

For information about the free workshops, visit Operation Hope's website for dates and locations.

The recall includes 344,000 Odysseys and 68,000 Elements from the 2007 and 2008 model years.

Honda said in a statement that over time, brake pedals can feel "soft" and must be pressed closer to the floor to stop the vehicles. Left unrepaired, the problem could cause loss of braking power and possibly a crash, Honda spokesman Chris Martin said.

"It's definitely not operating the way it should, and it's safety systems, so it brings it to the recall status," he said.

The automaker is still preparing a list of affected vehicles. After April 19, owners can determine if their vehicles are being recalled by going to http://www.recalls.honda.com or calling 800-999-1099 and selecting option number four.

The recall affects several Nissan models. Most of the vehicles are in the United States. See the models below.

*Titan
*Armada
*Frontier
*Pathfinder
*Quest
*Xterra
*Infiniti model QX56

If you want to know the specific model years being recalled, click to view the chart.

The first problem deals with the brakes. The brake problem involves a pin in the pedal that can become dislodged, causing a loss of braking. The defect has caused no injuries or accidents, according to a release from the automaker.

The second problem deals with Nissan cars with higher mileage. Some of these vehicles may run out of gas even though the fuel gauge indicates there is still an adequate supply.

Nissan is sending out notices to owners of the recalled vehicles. But if you have particular worries or questions about the recall, Nissan recommends contacting a dealer.

The release from the Nissan company has contact numbers as well as more detailed information if you are interested.

General Motors has recalled 1.3 million Chevrolet and Pontiac models in North America for power steering failures that are tied to 14 crashes and one injury in the United States according to the company.


The recall affects the vehicles listed below.


*2005-2010 Chevrolet Cobalt sold in the United States
*2007-2010 Pontiac G5 models sold in the United States
*2005-2006 Pontiac Pursuit vehicles sold in Canada
*2005-2006 Pontiac G4 models sold in Mexico.

A GM executive stated that when the power steering feature fails, a chime will sound and the "Power Steering" message will display to alert drivers.

No one can guarantee that the Power Steering message will display 100% of the time.
Drivers of a recalled vehicle will have to be vigilant if they experience anything abnormal with their car's steering.

If owners notice any problem with their power steering, GM recommends that they take their cars to their dealer to have the steering mechanism checked out.

The Federal Trade Commission (FTC) has stepped up enforcement on mortgage modification scams. They have set up Operation Home Lies which is a national federal and state law enforcement effort to go after mortgage modification scams that target homeowners facing foreclosure.

If you are in need of mortgage assistance, be vigilant of companies offering to help modify your mortgage while asking you to pay an advance fee to stop foreclosure.

If you are having difficulty making your mortgage payment, the first call you should make is to your loan servicer. If you feel you are not getting resolution with your servicer and think you are in danger of facing foreclosure, you can call the Homeowner's HOPE(TM) hotline at 888-995-HOPE.

The Homeowner's Hope Hotline information can be verified on the White House Blog.

The new federal government credit card law started Monday, February 22nd. The main reason this law was created is because credit card companies were finding too many ways to put Americans with credit cards deeper into debt.

Below is a list of changes affecting all credit cards holders.

INTEREST RATES

The rate cannot be raised in the first year after an account is opened unless an introductory rate has come to an end. After that, cardholders must be notified 45 days in advance of any rate change.

For existing balances, rates can't be raised unless the account is at least 60 days past due. If payments are made on time for six consecutive months, the original rate must be restored.

There is still no cap on interest rates that a credit card company can charge.

DISCLOSURES

Cardholders will see how many months it will take to pay off a balance if only minimum payments are made. Statements will also indicate how much needs to be paid each month to pay off a balance within three years.

SERVICE FEES

Service fees, such as activation and annual fees, will be capped at 25 percent of the credit limit during the first year of use. After that, there is no cap.

One popular card, Premier Bannkcard, for those with poor credit scores use to charge
$256 in first-year fees for a $250 credit line. These excessive fees will not be as high in the future because of the new law.

OVER-THE-LIMIT FEES

The cardholder must specifically agree to permit transactions that exceed the credit limit. Only then can over-the-limit fees be charged. But the fees can't be triggered by other fees or interest charges. Only one over-the-limit fee may be imposed during a billing cycle. No over-the-limit fees may be charged unless the cardholder has specifically agreed to permit transactions exceeding their authorized credit limit. These fees can no longer be triggered by other fees or interest charges imposed by the card issuer, and only one such fee may be imposed during a billing cycle.

UNIVERSAL DEFAULT

Card companies cannot raise interest rates on existing credit card balances. Interest rates can't rise during the first year an account is open, unless the original agreement spelled out a promotional rate for a limited time.

Consumers with older accounts must be informed of any interest rate increase on new charges at least 45 days in advance. They must also be given a chance to opt out of the hike by canceling the account and paying down the balance at the old interest rate. If an interest rate is increased, the card company must review the account once every six months to assess whether the rate should be dropped.

STUDENTS

Credit cards may no longer be issued to anyone under age 21, unless the applicant has a co-signer, or can show independent means to repay the debt. Colleges must disclose any marketing deals they make with credit card companies. Banks are not allowed to hand out gifts on or near campuses or at college-related events anymore.

This is a good one because in 2008, 84 percent of undergraduates had at least one credit card. Average balances topped $3,100.

Things are not always what they seem to be.

Despite the federal government’s positive report on GDP recently, most economists believe that the current growth numbers are misleading. Many of these economists are also skeptical about significant growth in GDP in 2010.

With real growth at rates below previous recessions in 1975 and 1982, jobless rates in the double digits and limited access to credit, many economists believe that the US economy is still weak.

The government mentioned GDP growing a whopping 5.7% during the 4th quarter of 2009. This is not impressive when you look behind the numbers.

To put that 5.7% figure into perspective you need to know that on average GDP grows around 3% +/- 1.5%. That is, GDP usually ranges between 1.5% to 4.5% growth. So a figure of 5.7% is massive growth.

Most of the growth came from businesses investing massive amounts of money in expanding their inventories. This method of GDP growth is not likely to be duplicated quarter after quarter.

GDP is calculated as: Consumer spending + Investment by businesses (including in inventory) + Government spending + Exports, net...or C + I + G + E = GDP. Normally, the allocation of GDP between these four broad categories is listed below:

C = 65-70%
I = 10-15%
G = 20-30%
E = -5%

In the 4th quarter, the investment by business was 3.4% of that 5.7%, or approximately 60% of the GDP figure. Remember that investment by business is typically only 10 to 15% of GDP so this was an anomaly.

Consumer spending which is usually 65 to 70% of GDP was only 25% in the 4th quarter of 2009. More precisely, it was 1.4% of the 5.7% of the GDP total.

Consumer spending is the oil that greases the economic wheel for the the US economy. This why Americans are goaded to spend, spend, and spend. When consumers stop spending because they are losing jobs, home values are falling, and equity cannot be pulled out of homes, consumers cut back on spending.

It is usually beneficial to look behind the numbers whenever the data is available. As Brothers Connected, that is what we plan to do for one another as we move forward together.

The 2010 Honda recall affects some 646,000 cars and was announced due to an apparent window issue. Honda has not stated which model year of the Fit has been recalled.

The Fit also goes by the name Jazz in some countries. The Wall Street Journal reported that the window switches in the Honda Fit and Jazz models may overheat if exposed to liquid, and they may smoke, melt or start a fire.

If you own one of these vehicles, make sure to contact your local Honda dealer.

The 2010 Toyota recall models list affects more than two million vehicles. This recall involves a gas pedal issue. If you own a Toyota on the list below, make sure to contact you local Toyota service dealer.

Here are the models affected by the Toyota recall:

• 2009-2010 RAV4,
• 2009-2010 Corolla,
• 2009-2010 Matrix,
• 2005-2010 Avalon,
• 2007-2010 Camry,
• 2010 Highlander,
• 2007-2010 Tundra,
• 2008-2010 Sequoia

Bank of America ATM, credit, or debit card holders are being offered what is called “Museums on Us”. This offer is good the first full weekend of each month until the offer ends.

Click here to locate all of the participating museums, zoos and other attractions near you, and then call to check on the specific rules.

You’ll find such prestigious places as the Whitney Museum of American Art in New York and Shedd Aquarium in Chicago taking part.

All you need if your Bank of America card and a photo ID for the free adventure to begin. If you planned to visit a local museum during Black History month, there is a possibility that the admission will be free.

Recently featured in Jet magazine, the Seagram’s Pursuit of Excellence Institute is a rigorous, four-week training session funded by Seagram’s and administered by the Atlanta Workforce Development Agency, Chicago Urban League, the Corporation to Develop Communities of Tampa and the Columbia Urban League.

To address rising unemployment among African American men, which is at a record 34.5%, Seagram’s has announced plans to continue its successful and unprecedented job training and mentoring program, the Pursuit of Excellence Institute in four of the hardest hit cities in the nation: Atlanta, Chicago, Tampa and Columbia South Carolina.

If you are located in one of these cities and you are looking for work or you are exploring a career change, go to the website and read the Press Release.

Jet Magazine has reported that this is the third year of the program. This opportunity for Black men is typically for those in the age range of 25 to 32 years old.

To date, 60 men have completed the program. This year, the number is expected to jump to 100. The job placement rate upon completion of the program is nearly 95 percent, Jet Magazine reported.

The government will hire about 1.2 million temporary workers in the first half of the year to administer the once every 10 years population count.

The stimulus bill President Barack Obama signed last February and additional funding by Congress provided enough money to hire 1.4 million Americans in total for the census, almost three times as many as in 2000 when the census was last taken. About 160,000 were already employed last year to do preliminary work.

The Census Bureau anticipates hiring about 181,000 workers from January through March and about 971,000 in the following three months.

Although the pay can vary, many of the jobs offered are for those going door-to-door to collect data from households that do not fill out and return their short list of ten questions. Households that do not return the forms before April 1 will be getting a visit from Census workers after that time.

For more information about 2010 Census Jobs, visit the government website. You can even take a practice test at the website.

The 2010 Census will help communities receive more than $400 billion in federal government money each year for things like:
•Hospitals
•Job training centers
•Schools
•Senior centers
•Bridges, tunnels and other-public works projects
•Emergency services

The data collected by the census also helps determine the number of seats your state has in the United States Congress. The U.S. Congress is where all politicians from your area are suppose to represent you and everyone else in your community.

Tylenol recall 2010!
Here we are, day 15 of 2010. Johnson & Johnson division McNeil-PPC has issued recalls on the following:

•junior strength Motrin
•children’s Tylenol grape meltaway tablets
•extra strength Tylenol
•extra strength Tylenol rapid release gelcap
•extra strength Tylenol PM geltab
•Motrin caplets
•extra strength Rolaids fresh mint tablets
•St. Joseph Aspirin chewable orange tablets

FDA response to Tylenol recall of 2010
Besides a warning letter, the FDA has released public statements, saying:

“The company should have acted faster. All companies have a responsibility to ensure high quality, safety and effectiveness of their products and protect consumers.”

The FDA says it will “aggressively investigate and solve the problem.” The warning letter says McNeil has 15 days to report on its efforts to address the current problem and prevent it from reoccurring. - Read Story

The world has moved into the second decade of the 21st century. When it comes to jobs growth in the United States, there were zero jobs created from Jan. 1, 2000 through Dec. 31, 2009. This means that more jobs were lost than created during this period. Some people are calling the first decade of the new Millennium, "The Lost Decade".

"This was the first business cycle where a working-age household ended up worse at the end of it than the beginning, and this in spite of substantial growth in productivity, which should have been able to improve everyone's well-being," said Lawrence Mishel, president of the Economic Policy Institute, a liberal think tank. Read Story

It's no mistake. This credit card's interest rate is 79.9 percent. Stay away from this credit card at all cost. If your credit is not the best, there are other options that will not empty your pockets in fees.

The over the top interest rate is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It's a strategy other subprime card issuers could start adopting to get around the new rules. - Read Story