Study: Most People Just Don’t Care About Mobile Banking

Credit Cards

Study: Most People Just Don’t Care About Mobile Banking

Study: Most People Just Don’t Care About Mobile Banking

Many people in the banking industry are very excited about mobile banking. At conferences, in reports and in news articles for industry insiders, there is near monolithic agreement that within a few years everybody will be banking using their smartphones. There’s just one small group that isn’t convinced: The overwhelming majority of consumers. Lightspeed Research… Read More

Credit Scores Remained Stable Through Recession

Credit Score

Credit Scores Remained Stable Through Recession

Credit Scores Remained Stable Through Recession

Given the seemingly daily notice of bad news about the current status and near-term outlook of the U.S. economy, one could logically assume that consumers’ credit scores have also experienced a corresponding downturn. A recent study published by FICO shows this is not the case. In fact, their report illustrates that the distribution of FICO… Read More

Student Cards with Cash Bonuses

Credit Cards

Student Cards with Cash Bonuses

Student Cards with Cash Bonuses

As one who reviews a lot of credit cards each month, I know how time consuming it can be to sift through terms and conditions in search of the right card. For busy college students, this is time that could be better spent elsewhere. Here, I’ve listed out some student credit cards that are offering… Read More

Regulators Won’t Wait for Banks to End “Too Big to Fail”

Personal Finance

Regulators Won’t Wait for Banks to End “Too Big to Fail”

Regulators Won’t Wait for Banks to End “Too Big to Fail”

The phenomenon of banks that are “too big to fail” must end, and the government isn’t waiting for the banks to end it, a federal regulator told a group of top bankers last week. Martin Gruenberg, acting director of the FDIC, said that his agency doesn’t have to wait until banks are ready with their… Read More

Need a Payday Loan? Why Not Try a Bank?

Personal Loans

Need a Payday Loan? Why Not Try a Bank?

Need a Payday Loan? Why Not Try a Bank?

For years, advocacy groups have bemoaned the steep fees and high interest rates of payday loans, which regularly wind up costing consumers a whopping 400% in interest every year. With so much money to be made, many advocates wonder why banks haven’t tried to compete with loans of their own, which would offer them increased profits… Read More

Big Bank CEO Says Consumers Need More Protection

Personal Finance

Big Bank CEO Says Consumers Need More Protection

Big Bank CEO Says Consumers Need More Protection

The leader of one of the world’s largest banks believes that consumers need more protection, and banks need more regulation, for the world economy to recover from its current malaise. Not only that, but America’s entire credit score system should be trashed, Vikram Pandit, CEO of Citigroup, told hundreds of his fellow bankers on Friday…. Read More

Prepaid Cards: How to Become a Fine Print Warrior

Credit Cards

Prepaid Cards: How to Become a Fine Print Warrior

Prepaid Cards: How to Become a Fine Print Warrior

I don’t encourage the use of prepaid cards, but the industry obviously doesn’t care about getting my blessing. In 2009, there was $18.3 billion loaded onto prepaid cards. And get this: The Network Branded Prepaid Card Association predicts that by the end of 2011, $67.7 billion will have been loaded onto prepaid cards. These cards… Read More

Report: Taxpayer Owned Mortgage Company May Still Break the Law

Mortgages

Report: Taxpayer Owned Mortgage Company May Still Break the Law

Report: Taxpayer Owned Mortgage Company May Still Break the Law

Fannie Mae, the taxpayer-owned company that owns or insures a large portion of U.S. mortgages, has known since May 2006 that its lawyers were falsifying court documents, which ultimately led to some people getting evicted from their homes illegally, according to a new government report. Even now, a year after the related robo-signing scandal broke,… Read More

Paying Cash? Service Will Let You Pay Rent at 7-11

Personal Finance

Paying Cash? Service Will Let You Pay Rent at 7-11

Paying Cash? Service Will Let You Pay Rent at 7-11

At least 17 million American adults have no bank accounts or credit cards, according to the FDIC. So how do they pay their bills? The answer so far: With great difficulty and expense. If they need to mail a payment, they often have to wait in line at a post office to buy a money… Read More

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