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Heavey to leave segmentation legacy

St. George head of intermediary distribution Steven Heavey has announced his resignation, only days after his involvement in the launch of Westpac's rebadged Bank of Melbourne brand in Victoria.

Answers to the 7 big "what-ifs" of debt default

Cantor leads fellow House Republicans as they talk to reporters about their proposed deficit-cutting plan at the U.S. Capitol in Washington
The debt negotiations are getting down to the wire. Republican and Democratic lawmakers are scrambling to broker a deal to raise the country's $14.3 trillion debt ceiling before Tuesday, when the Treasury will no longer be able to borrow funds to meet all of its obligations. It all means the United States could face the possibility of defaulting on its debt and losing its prized triple-A credit rating.
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An abandoned and dilapidated home, one of 32 abandoned properties in the neighborhood listed on the auction block during the Wayne County tax foreclosures auction of almost 9,000 properties is seen in Detroit, Michigan, October 21, 2009.

Facing criticism, MERS cuts role in foreclosures

MERS, the electronic mortgage registry that faces multiple investigations for its role in thousands of problematic foreclosure cases, changed its rules to lower its profile in court-supervised foreclosures.
Washers and dryers are seen on display at a store in New York

June Durable Goods Orders Fall on Transportation

New orders for long-lasting U.S. manufactured goods fell in June and a gauge of business spending plans slipped, supporting views that the economy will not emerge quickly from its current soft patch.
Warren testifies at a hearing about oversight of the Consumer Financial Protection Bureau of the Oversight and Government Reform Committee in Washington

Elizabeth Warren to leave consumer financial agency

Elizabeth Warren, the law professor who persuaded the Obama administration to create the Consumer Financial Protection Bureau, will step down on August 1 from her role setting up the controversial new regulator, the Treasury said on Tuesday.
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Man Declared Dead for 25 Years Found in Las Vegas

A former Chicago commodities broker who disappeared almost 32 years ago and was declared dead in 1986 was found working as a sports book writer in an upscale Las Vegas neighborhood, a job he had held for a decade.
Mortgage Rates Hit All-time Low

Five Tips for U.S. Home Sellers

There's no way to sugarcoat it: the U.S. housing market remains a buyer's market. That said, are there ways home sellers can better-position their home for a sale amid such intense competition? Indeed there are, and here are five.
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Foreclosure Relief Fraud: Man Sentenced to 25 Years

Foreclosure relief fraud accused Jeff McGrue was found guilty and sentenced to 25 years in federal prison. McGrue was accused of executing a scheme by which property owners facing foreclosure were promised mortgage relief and lenders were sent fake notes totaling $55 million.
House Republican Leadership

Cantor Gives 'Gang of Six' Plan Mixed Review

The Gang of Six group of U.S. senators was finally able to agree to a deficit-reduction plan on Tuesday, but House Majority Leader Eric Cantor, R-Va., only give it a mixed review, citing his concern about the plan's revenue target while saying it proposes some constructive ideas.
U.S. House Speaker John Boehner, R-Ohio

Can Speaker Boehner Keep House in Order on Debt Plan?

House Speaker John Boehner, R-Ohio, has his hands full regarding the 'Gang of Six' debt plan. Most Tea Party members of his caucus are likely to oppose it, but if Boehner can recruit enough moderate Democrats to offset Tea Party opposers, the plan should pass the U.S. House -- its likely final hurdler before the bill heads to President Obama.
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Fed hits Wells Fargo with $85 million mortgage penalty

Wells Fargo & Co agreed to pay a $85 million civil penalty to the Federal Reserve Board for allegedly steering borrowers into costly subprime mortgages, the largest fine the Fed has ever imposed in a consumer-enforcement case.

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