More Jobs, Lower Stress Over Money for American Workers

Personal Finance

More Jobs, Lower Stress Over Money for American Workers

More Jobs, Lower Stress Over Money for American Workers

The economy added 80,000 non-agricultural jobs last year and the unemployment rate dropped slightly, to nine percent, adding to some analysts’ speculations that many Americans may reach for their credit cards more often this holiday season. Even though the Labor Department found that the nation’s unemployment rate improved, it still was below the expectations of… Read More

Expert: The Double-Dip Housing Recession Has Begun

Mortgages

Expert: The Double-Dip Housing Recession Has Begun

Expert: The Double-Dip Housing Recession Has Begun

The number of people falling behind on their mortgages increased over the last quarter for the first time since 2009, according to a new report by the credit bureau TransUnion. And while the news surprised many people, it came as no surprise at all to some mortgage experts, who have known for years that a… Read More

Bank of America to Pay $410 Million for Overdraft Fee Scheme

Personal Finance

Bank of America to Pay $410 Million for Overdraft Fee Scheme

Bank of America to Pay $410 Million for Overdraft Fee Scheme

Bank of America has agreed to pay $410 million to settle a class-action lawsuit that accused the nation’s largest bank of manipulating customers’ debit card accounts to generate billions of dollars in extra overdraft fees. The bank admitted no wrongdoing, but customers who lost money to the practice will receive partial refunds. The agreement could… Read More

Pew: Old Families Getting Richer, Young Families Getting Poorer

Personal Finance

Pew: Old Families Getting Richer, Young Families Getting Poorer

Pew: Old Families Getting Richer, Young Families Getting Poorer

Many families are struggling in this jobless recovery, but young ones may be struggling a lot more than older ones. According to a study released recently by the Pew Research Center, the average family headed by a senior citizen are 42 percent wealthier now than older families were in 1984. Meanwhile, young families are getting… Read More

College Grads Face Record Debt

Students

College Grads Face Record Debt

College Grads Face Record Debt

For the first time ever, the average college senior owes more than $25,000 in debt, according to a study released this week by the Project on Student Debt. Graduates in the class of 2010 now owe $25,250 in student loans, a five-percent increase over their predecessors the year before. “Some thought the jump would be… Read More

Despite Cap, Banks Still Make Money From Debit Cards

Credit Cards

Despite Cap, Banks Still Make Money From Debit Cards

Despite Cap, Banks Still Make Money From Debit Cards

Big banks have been doing a lot of complaining lately about new federal rules limiting how much they can charge retailers every time a consumer buys something with a credit card. The rules, imposed by the Federal Reserve, cut debit fees in half to about 22 cents per swipe. In response, the banks have been… Read More

Apps More Prevalent Than Ever, Influence Shopping Habits

Personal Finance

Apps More Prevalent Than Ever, Influence Shopping Habits

Apps More Prevalent Than Ever, Influence Shopping Habits

Half of adult cell phone users now have apps on their phones, according to a recent survey from the Pew Internet and American Life Project. This accounts for the share of adults who’ve purchased phones pre-loaded with apps, up from 38 percent in May 2010 to 43 percent in August 2011, as well as cell… Read More

Occupy Movements Plan D.C. March, Home Takeovers

Mortgages

Occupy Movements Plan D.C. March, Home Takeovers

Occupy Movements Plan D.C. March, Home Takeovers

Occupy Wall Street soon will be occupying the highway. The movement that started in downtown Manhattan is taking its protest on the road with a two-week march from New York to Washington, D.C. The march will start at noon this Wednesday, according to flyers handed out over the weekend by organizers. It will end at… Read More

Court Shuts Down California Debt Collectors

Managing Debt

Court Shuts Down California Debt Collectors

Court Shuts Down California Debt Collectors

A federal court has halted the operation of seven debt collection companies in California accused of illegally lying to consumers, some of whom didn’t owe any debts at all. According to the lawsuit by the Federal Trade Commission, the companies falsely claimed that consumers had been sued, and faced arrest or seizure of property if… Read More

Act Fast: A Hotline for Elderly Financial Fraud Victims

Personal Finance

Act Fast: A Hotline for Elderly Financial Fraud Victims

Act Fast: A Hotline for Elderly Financial Fraud Victims

If you’re a senior citizen who suspects you’ve been scammed in a financial fraud, or if you are the adult child of a senior facing a possible financial scam, a new hotline may help you report the problem and get help. But you’ll have to act fast. The hotline will only be open for one… Read More

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