FDIC’s Bair Blasts Banks’ Short-Sightedness

Personal Finance

FDIC’s Bair Blasts Banks’ Short-Sightedness

FDIC’s Bair Blasts Banks’ Short-Sightedness

After a five-year term that included the biggest economic disaster in 80 years, outgoing FDIC chairwoman Sheila Bair gave a going-away speech Friday night in which she blasted leaders of the nation’s largest banks and members of Congress for focusing too much on short-term economic and political gain, even as the long-term problems that caused… Read More

Feds: Borrowing Got a Little Easier This Year

Personal Finance

Feds: Borrowing Got a Little Easier This Year

Feds: Borrowing Got a Little Easier This Year

Getting a new credit card, car loan or small business loan got a bit easier over the past year, according to a new study by the Office of the Comptroller of the Currency. That’s good news for people who got the loans, and may be an encouraging sign that bankers believe the overall economy is… Read More

If Your Teen is an Online Gamer, Watch Your Credit Card Account

Students

If Your Teen is an Online Gamer, Watch Your Credit Card Account

If Your Teen is an Online Gamer, Watch Your Credit Card Account

No doubt, Sony’s PlayStation Network breach has left many wondering how safe their credit card information is when it’s stored online. My 15-year-old son plays Xbox LIVE, which so far, seems safe. But I’m sure parents of kids who played on the PlayStation Network thought their data was safe, too. So I decided to take… Read More

More Credit Card Offers Coming from Lenders

Credit Cards

More Credit Card Offers Coming from Lenders

More Credit Card Offers Coming from Lenders

New statistics from Mintel Comperemedia revealed that the number of offers for new credit card accounts mailed by the nation’s top lenders ballooned to more than 1.4 billion, an increase of 69 percent over the 826 million sent out in the same quarter last year, according to the Wall Street Journal. Nearly two-thirds of those… Read More

D-Day for Debit Cards (That’s D as in “Durbin”)

Credit Cards

D-Day for Debit Cards (That’s D as in “Durbin”)

D-Day for Debit Cards (That’s D as in “Durbin”)

For people with debit cards, Wednesday is The Big Day. Finally, after a year-long, multi-million-dollar fight between big banks and big retailers, the Federal Reserve will announce its new rules for debit card swipe fees. It could be the end of the debit card as we know it. “This will be a game changer,” says… Read More

How to Find the Right Credit Union for You

Credit 101

How to Find the Right Credit Union for You

How to Find the Right Credit Union for You

Credit unions are known to be more stable than banks, and more generous when it comes to supplying customers with favorable interest rates on their deposits. They’re able to do this because, unlike traditional banks, they don’t rely on a fractional reserve system (meaning the bank reserves just a fraction of cash and other liquid… Read More

7 Savings Tips for College-Bound Students

Students

7 Savings Tips for College-Bound Students

7 Savings Tips for College-Bound Students

It’s high season for prospective college students, as they and their families compare colleges and decide how to finance what is often one of life’s biggest expenses. After tapping savings and 529 plans (assuming parents or guardians have been contributing over the years) there’s almost always a shortage. And while some parents feel obliged to… Read More

Watchdog: Without Regulation, Consumer Mortgages Could Dry Up

Mortgages

Watchdog: Without Regulation, Consumer Mortgages Could Dry Up

Watchdog: Without Regulation, Consumer Mortgages Could Dry Up

We’re seeing it pretty often these days: federal watchdogs, under fire from Congressional Republicans and banking industry leaders for over-regulating, walking onto the banks’ turf and staring them down. First came Elizabeth Warren, the fiery de facto leader of the Consumer Financial Protection Bureau, telling the virulently anti-regulation U.S. Chamber of Commerce that she wanted… Read More

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