This Week in Credit News: American Express Refunds

Credit Cards

This Week in Credit News: American Express Refunds

This Week in Credit News: American Express Refunds

The biggest news in the financial world this week was the Consumer Financial Protection Bureau’s enforcement action with American Express. AmEx to Refund $85 Million to Consumers The CFPB announced this week that American Express would follow in the footsteps of Discover and be required to refund customers who purchased credit card products due to… Read More

5 Reasons Why Your Credit Score May Not Matter

Credit Score

5 Reasons Why Your Credit Score May Not Matter

5 Reasons Why Your Credit Score May Not Matter

Credit scores and the confusion they cause have once again stepped into the national spotlight with the release last week of the Consumer Financial Protection Bureau’s (CFPB) Analysis of Differences between Consumer and Creditor-Purchased Credit Scores, as part of the Dodd-Frank Act requirement that the CFPB compare credit scores sold to creditors and those sold… Read More

Banks Still Raking In the Profits from Overdraft Fees

Personal Finance

Banks Still Raking In the Profits from Overdraft Fees

Banks Still Raking In the Profits from Overdraft Fees

If you’ve ever witnessed a great white shark attack, you know the meaning of the word “relentless.” The giant creature’s dorsal fin traces a circle in the water as it spots a vulnerable victim; the shark makes a first strike, then a second and a third, coolly and methodically; the victim struggles, weakens and finally… Read More

Why Your Credit Score HATES This Time of Year

Credit Score

Why Your Credit Score HATES This Time of Year

Why Your Credit Score HATES This Time of Year

For many of us, fall is a favorite time of year: The kids are in school, the leaves are falling from the trees, the festive season is just around the corner, and comforting smells like pumpkin and cloves and turkey fill the house. You and I might revel in the crisp autumn weather, but your… Read More

Obama or Romney: Who’s Best for Student Loans?

Students

Obama or Romney: Who’s Best for Student Loans?

Obama or Romney: Who’s Best for Student Loans?

Two important things will happen this November. First, after the longest and most expensive electoral campaign in world history, the United States will finally pick a president. Second, Felice Goldman’s daughter will turn 27. But instead of starting her career as a special education teacher, Goldman’s daughter finds herself trapped in “major college loan debt,”… Read More

Is the U.S. Violating Its Own Credit Reporting Laws?

Credit Score

Is the U.S. Violating Its Own Credit Reporting Laws?

Is the U.S. Violating Its Own Credit Reporting Laws?

The U.S. Supreme Court is trying to determine whether the federal government should be held accountable for the way it may have exposed consumers to identity theft. The case in question, U.S. v. Bormes, involves the government listing several details of consumers’ credit card numbers when they paid fees through the U.S. government’s Pay.gov payment… Read More

Car Loans Lead Lending Charge

Auto Loans

Car Loans Lead Lending Charge

Car Loans Lead Lending Charge

With the economy slowly improving and consumers once again feeling better about their personal financial situations, many are now seeking new types of financing. Consumers’ interest in a few different kinds of new credit picked up in the first half of the year, and that willingness to take on more balances extended into August as… Read More

IRS May Have Missed $5.2 Billion in Fraudulent Returns

Identity Theft

IRS May Have Missed $5.2 Billion in Fraudulent Returns

IRS May Have Missed $5.2 Billion in Fraudulent Returns

In recent years, fraudsters have been able to mine a rich vein of potential identity theft by filing bogus tax returns for other people. But while the IRS has tried to come down hard on this type of criminal, many may still be slipping through the cracks. As many as 1.5 million tax returns that… Read More

5 Ways Romney Will Roll Back Consumer Protections

Personal Finance

5 Ways Romney Will Roll Back Consumer Protections

5 Ways Romney Will Roll Back Consumer Protections

Mitt Romney’s now-infamous statement, “My job is not to worry about those people,” pretty much sums up the Republican nominee’s true feelings about who he represents. And if you’re in serious debt, it doesn’t seem like he’s too worried about you, either. If you are among the 22.4 million people who owe college debt, a… Read More

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