VIDEO! Watch video explaining the New Credit Card Rules for February 2010. New Credit Card Rules starting today February 22, 2010 brings good news and bad news.

The bad news is that the protection doesn’t apply to corporate credit cards. The good news is the new rules provide reforms advocates have fought for you for the past months.

Two new rules are at the the core of today’s changes:

1. Credit card companies no long can raise interest rates on balances existing if you pay your statement on time.

2. Credit card companies can’t raise fees or interest rates at anytime. Now they must give you a 45 day notice.

Also:

3. Due dates can’t be changed without your permission.

4. If you are under 21, now you need a co-signer to get your own credit card.

Curtis Arnold, founder of CardRatings.com, tells CNN:

“Regulation, particularly in the long-term, is good for the consumer. But these regulations won’t be there for the small business owner. hey’re going to have to be on their toes to protect themselves.”

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Catch JPMorgan Chase’s earnings for Q4 ‘09 this morning! JPMorgan Chase earnings are expected to be strong for the last quarter of 2009 when reported Friday morning, says analysts.

At the core is the company’s investment banking and trading business that are said to be strong enough to balance against a slagging consumer lending industry.

What are the predictions?

Thomson Reuters polled analysts who predict a 61 cent per share earning for Q409 with $26.8 billion in revenue. Credit Suisse analyst Moshe Orenbuch is seeing a 59 cents per share.

Rochdale Securities analyst Richard Bove predicts 51 cents per share.

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PICS! Here again are pictures of Danielle Chiesi of New Castle Partners, beauty queen now charged as an insider trader. Danielle Chiesi’s photo and bio was profiled by LALATE following her arrest in October. Now new details about Danielle Chiesi are coming in — and they are hotter than some of her alleged insider pics.

A new report today claims Danielle - blond haired, blue eyed - used her looks to get her insider tips in a world of older men needing attention. Among the allegations were Chiesi’s choice of alluring wardrobe choices and super socializing skills (and we aren’t talking Facebook), taking to dancefloors for male sources.

The allegations today include: “Danielle Chiesi spent a lot of time in hotel ballrooms and bars during the past decade.”; “Chiesi wore short skirts and low-cut tops”; “One ploy was to go barhopping with a group, and then peel someone off to talk to on the dance floor”.

Says one source - “It amazes me that grown, wealthy, successful, hardworking men fell for that” . After you look at her pics, you’ll agree - it actually is amazing they allegedly fell for it.

Danielle Chiesi Pictures
Danielle Chiesi Photo 1
Danielle Chiesi Photo 2

In October, LALATE broke that Chieisi with Mark Kurland of New Castle Partners were among six persons arrested in a massive alleged insider trading case covered extensively all day long on LALATE.

Wearing a white sweater and black jacket, Chiesi had a grim face. Gone were the look of a one time Sorority Girl, Teenage Beauty Queen bombshell. In replacement - wire taps, lots of wire taps.

Cheisi is reportedly recorded on wire taps says :”I swear to you in front of God … You put me in jail if you talk.” Later she adds: “I’m dead if this leaks. I really am … and my career is over. I’ll be like Martha (expletive) Stewart.”

Chiesi is heard elsewhere on wire taps with billionaire Galleon Group Hedge Fund founder Raj Rajaratnam with an Akami executive in the following exchange

Akami executivee: “Danielle, I have a major present for you.”

She asks what.

Akamai executive: “Information”.

Chiesi: “Well that, that is a great present.”

Chiesi: “Akamai…. I’m trading it tomorrow.. They’re gonna guide down. I just got a call from my guy … I was talking about the family and everything, and then he said people think it’s gonna go to 25 (dollars per share). They print on Wednesday.”

Rajaratnam: “You got a few more days, Friday, Monday …”

Chiesi: “Just keep shorting every day. We got a lot of days.”

Also arrested today are Rajiv Goel, director in strategic investments at Intel Corp.’s investment arm; Anil Kumar, a director at global management-consulting firm McKinsey & Co.; Mark Kurland of New Castle Partners LLC,; and Robert Moffat, a senior vice president at International Business Machines Corp.

Reports state that the second complaint accuses “Danielle Chiesi, Mark Kurland and Robert Moffat — of securities fraud and conspiracy to commit insider trading.”

For continuing coverage on LALATE click here: http://news.lalate.com/category/money.

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David Plate, Michael Kimelman, Roomy Khan, Steven Fortuna, Gautham Shankar, and Richard Choo Beng Lee are among the new insider trading arrests Thursday. Plat, Kimelman, Khan, Fortuna, Shankar, and Lee join 14 total new defendants added to the growing $40 million alleged insider trading Galleon scandal.

That Galleon scandal first profiled on LALATE included arrests in the technology world to Wall Street. Today the scandal adds Roomy Khan, a former Intel employee. Roomy Khan’s position at Intel is not yet known but Bloomberg is reporting her as a “key government witness” who reportedly has pleaded guilty.

Steve Fortuna is a hedge fund manager director at S2 Capital in Boston. Gauthan Shankar is a trader at Schottenfeld Group. Richard Choo Beng Lee is a portfolio manager. Lee and co defendant Ali Far formed Spherix Capital.

The trade at issue is the proposed buyout of 3Com by Bain Capital.

For continuing coverage of the other arrests today on LALATE, click here:

http://news.lalate.com/category/money.

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Arthur Cutillo, Jason Goldfarb, Zvi Goffer, and Craig Drimal have been arrested. Cutillo (of Ropes & Gray), Goldfarb, Goffer (Incremental), and Drimal (Galleon) are among insider trading arrests added today to the growing Galleon Group case first profiled on LALATE.

In total 14 arrests Thursday.

Zvi Goffer is a former Galleon employee. Craig Drimal works in the Galleon’s New York office. Goffer is according to FBI is the alleged ringleader. Goffer founded Incremental Capital LLC. Involve in his alleged scheme were pre-paid cellphones.

Arthur Cutillo and Jason Goldfarb are attorneys and among five lawyers arrested today. The charges for the 14 range from conspiracy to fraud.

U.S. Attorney Preet Bharara said today - “If you’re a wealthy trader, you aren’t special. Knock on our door before we come knocking on yours.” In total $40 million was believed a part of the insider trading scheme.

Cutillo works at Ropes & Gray. It issued a statement today - “We are deeply disappointed to learn about this situation which suggests an extreme breach of this person’s duty of trust to our clients and to the firm. We cannot comment in detail on an ongoing investigation ut we are moving quickly to protect our clients and are cooperating fully with authorities.”

For continuing coverage of the other arrests today on LALATE, click here:

http://news.lalate.com/category/money.

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Bill Seebeck is the man who was “denied” a $166 million jackpot. Even worse, Bill Seebeck’s $166 million jackpot jackpot was on a machine with a potential jackpot of either $2500 or $90,000.

Where was this mess? All the numbers went down at the Seminole Hard Rock Casino. Shockingly, the matter has actually been resolved. Case closed. No $166 million every paid.

Yes by Tuesday, reports indicate that the Casino and Seebeck have settled and they look forward to Bill’s future visits. The money mess went down on a $4 slot machine in the Tampa casino. The slot’s maximum jackpot was either $2500 or $90,000. But to Bill’s surprise, the machine read he won $166,666,666.65!

The casino said - sorry - a slight error there.

Bill never saw all that money. ABC had reported “Seebeck says he is looking for a lawyer to help him comprehend the convoluted federal Indian gaming regulations to possibly pursue legal action”.

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Bill Seebeck is the man who a casino denied a jackpot. Bill Seebeck’s jackpot was denied by the Seminole Hard Rock Casino.

You see, Bill went to play on $4 slot machine in the Tampa casino. The slot’s maximum jackpot was either $2500 or $90,000. But to Bill’s surprise, the machine read he won $166,666,666.65! That’s one devil of a win.

Bill never saw all that money. Gus Garcia Roberts reports for the Miami New Times that initially Bill didn’t get even a penny. ABC reported “Seebeck says he is looking for a lawyer to help him comprehend the convoluted federal Indian gaming regulations to possibly pursue legal action”.

But by Tuesday, Roberts reports the Casino and Seebeck have settled and they look forward to his future visits.

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