Econ 101: July 12, 2012

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • The number of new foreclosure starts jumped 9 percent during the second quarter of this year. [CNN Money]
  • Americans charged more on their credit cards in May than in any other month since November 2007. [Huffington Post]
  • British bank HSBC is planning to apologize to US lawmakers for failing to ensure that it did not facilitate illegal activity, including terrrorism. [Financial Times]
  • According to the minutes of their latest meeting, some Federal Reserve officials are ready to take new actions to boost the economy. [Wall Street Journal]
  • The House Agriculture Committee passed its version of the latest farm bill yesterday, complete with its deep cuts to food stamps. [Washington Post]
  • The Securities and Exchange Commission adopted new rules aimed at fixing the problems found in the wake of the stock market’s 2010 “flash crash.” [Reuters]
  • The House looks increasingly unlikely to vote on a so-called postal reform bill before the August recess. [The Hill]