The Federal Reserve estimates Americans have run up about $900 billion in credit card debt. And the number of those even with good credit who are defaulting on their balances is rising.

The Federal Reserve on Wednesday slashed a key interest rate by half a percentage point as it seeks to revive an ailing economy.

The Federal Reserve meets today and an interest rate cut is expected

The White House has a message for U.S. financial institutions receiving billions in federal help: quit hoarding the money and start making more loans.

The FBI just sent News 2 a letter asking for your help in finding the person or persons responsible for sending more than 50 threatening letters to financial institutions across the country.

Federal authorities are investigating at least 30 letters containing suspicious powder that have been sent to banks in seven cities.

Stock prices finished the day solidly higher, with the Dow gaining more than 400 points for the day.

South Korea’s government moved to shore up the country’s banking system amid the global credit crisis.

President Bush will lay out a more detailed explanation today of what the government is doing to battle the worst financial crisis in more than a half-century.

Tokyo’s Nikkei fell more than 11 percent, it’s biggest one-day drop since the stock market crash of October 1987.

Wall Street has ended a relatively calm day with a moderate decline, with the Dow Jones industrials falling about 76 points as profit-taking set in after Monday’s massive advance.

NEW YORK (Reuters) - The United States ushered in a new era in banking on Tuesday with plans to take equity stakes worth up to $250 billion in financial institutions, an incursion into the private sector that U.S. officials called a regrettable last resort.

Meantime house Democrats are floating plans for a new, $300 billion stimulus package.

President Bush is ready to announce a greatly expanded bid to protect the nation’s banking system. He’ll give details at the White House this morning.

Stocks here and around the world rallied Monday afternoon on news that a worldwide financial rescue is underway.