Rent-to-Own Stores: Beware of Costly Traps

Managing Debt

Rent-to-Own Stores: Beware of Costly Traps

Rent-to-Own Stores: Beware of Costly Traps

While rent-to-own stores offer low, flexible payments, the convenience comes at a big price. Consumer Reports recently investigated rent-to-own merchants from Rent-A-Center to Aaron’s and calculated that consumers could end up paying exorbitant interest rates as high as 311%.  For example, they found a $612 Toshiba laptop being offered for $38.99 per week for 48… Read More

Lower Swipe Fees Could Benefit Restaurants Considerably

Credit Cards

Lower Swipe Fees Could Benefit Restaurants Considerably

Lower Swipe Fees Could Benefit Restaurants Considerably

A proposed rule from the Federal Reserve Board will limit the amount credit networks can charge for processing debit purchases to just 12 cents per transaction, and this is likely to be a boon to the restaurant industry, according to a report from The Associated Press. A new report from KeyBanc Capital Markets shows the… Read More

Lost Money to Wall Street? Payback Time Begins.

Personal Finance

Lost Money to Wall Street? Payback Time Begins.

Lost Money to Wall Street? Payback Time Begins.

If your retirement fund bought any mortgage-related investments during the housing bubble, now may be time for a little payback. In two separate announcements in recent days, federal officials announced they will make Wall Street investment houses answer for allegedly lying to investors about the quality of mortgage-backed securities sold right before the housing bubble… Read More

Worse than Zombies: The Mobile Botnets are Coming

Personal Finance

Worse than Zombies: The Mobile Botnets are Coming

Worse than Zombies: The Mobile Botnets are Coming

As our smartphones have become our wallets and personal computers, holding everything from banking to social network information, they’ve become targets for hackers, scammers and criminals. Our phones hold a treasure trove of data—and the bad guys know it. A screen lock is no longer enough. Dream Droid, a botnet-type of malware program, recently infected… Read More

What Does the Debit Card Fee Cap Mean for You? An Inside Look.

Credit Cards

What Does the Debit Card Fee Cap Mean for You? An Inside Look.

What Does the Debit Card Fee Cap Mean for You? An Inside Look.

The average small business will save $1,000 a year thanks to new limits on debit card swipe fees, according to a new estimate by Robert Baldwin, president of Heartland Payment Systems. Small restaurants will save $2,000 a year. Will those savings be passed on to consumers? Or will it be a wash, as banks hike… Read More

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