Posted: Jan 9, 2013 10:49 PM
Updated: Jan 9, 2013 10:49 PM
WASHINGTON (AP) The Consumer Financial Protection Bureau is rolling out new rules intended to ensure that mortgage borrowers can afford to repay loans they take out. The rules, which take effect next year, include bans on the risky "interest-only" and "no documentation" loans that helped inflate the housing bubble.
FRANKFURT, Germany (AP) Europe's stalled economy apparently won't get more help from the European Central Bank. Representatives meeting Thursday in Frankfurt, Germany, are expected to hold off cutting interest rates as the ECB waits for financial markets to heal so that its already low benchmark rates get through to businesses and consumers.
WASHINGTON (AP) Gun supporters and retailers will get to share their ideas Thursday with the gun violence task force headed by Vice President Joe Biden. Participants will include the National Rifle Association. Biden and the panel were asked to quickly come up with recommendations in the wake of the Connecticut school shooting.
PHOENIX (AP) An Arizona sheriff known for tough jail conditions and rounding up suspected immigrants has launched a plan to patrol areas just outside of schools to guard against shootings. Maricopa County Sheriff Joe Arpaio's (ahr-PEYE'-ohz) office says as many as 500 armed volunteers will make patrols at dozens of schools in unincorporated areas of metro Phoenix and communities that pay his agency for police services.
HUDSON VALLEY, NY (AP) Some burglary victims in upstate New York have their bling back. Police in Hudson Valley put about 30,000 pieces of jewelry and other valuables on display at a high school for those who have been victimized. The loot was seized following the recent arrest of a man charged with possessing stolen property.