National Economic Stress Level Rose Slightly in December

Personal Finance

National Economic Stress Level Rose Slightly in December

National Economic Stress Level Rose Slightly in December

Manufacturing jobs began returning to the economy in December, and bankruptcies stayed flat from the previous month, but the continuing threat of foreclosure actions caused consumers to feel more economic strife in the final month of 2010, according to the latest monthly poll from The Associated Press. Overall, December’s consumer stress rating climbed slightly to… Read More

Credit Score Resellers Settle With FTC – 1,800 Credit Reports Breached

Identity Theft

Credit Score Resellers Settle With FTC – 1,800 Credit Reports Breached

Credit Score Resellers Settle With FTC – 1,800 Credit Reports Breached

The Federal Trade Commission has laid the hammer down on three credit score reselling companies, primarily on charges that the firms did a lousy job protecting consumers’ personal identities. The FTC announced the settlement on February 3rd, 2011. Credit score resellers have been a thorny issue for the government for years. In most cases, such… Read More

Fewer Refinances Cause Home Loan Applications to Dip

Mortgages

Fewer Refinances Cause Home Loan Applications to Dip

Fewer Refinances Cause Home Loan Applications to Dip

The number of home loan applications across the country declined once again in the week ending February 4, this time by a seasonally adjusted 5.5 percent, according to the latest weekly statistics from the Mortgage Bankers Association. Overall, refinances fell 7.7 percent, while applications for new purchases sank 1.8 percent. “Mortgage rates increased last week… Read More

California Courts Grant Cardholders More Privacy

Credit Cards

California Courts Grant Cardholders More Privacy

California Courts Grant Cardholders More Privacy

California’s Supreme Court ruled in favor of greater cardholder privacy this week in a decision that will likely affect many state consumers when they make credit card purchases. In a unanimous ruling, the seven judges of the state’s high court found that retailers do not have the right to ask consumers to supply their ZIP… Read More

Consumers Slowly Digging Out From Recession

Personal Finance

Consumers Slowly Digging Out From Recession

Consumers Slowly Digging Out From Recession

We’re getting more confirmation that the economic recovery, while achingly slow, is actually happening. A report published recently by the Commerce Department confirms what analysts had been expecting, that consumers’ incomes and spending both crept upward slightly in December 2010. Personal income and consumer spending both rose by .4%. That’s not exactly the stuff booms… Read More

Consumers May Be Spending Money They Don’t Have

Managing Debt

Consumers May Be Spending Money They Don’t Have

Consumers May Be Spending Money They Don’t Have

During the holiday season, many economists and retailers were enthusiastic about the overall increase in credit card spending, as most saw this as a sign the economy could soon recover. However, many consumers may have been borrowing funds that they can’t afford to pay back. By over-spending, these cardholders could be setting themselves up for… Read More

Did Washington’s Predatory Loan Law Backfire?

Personal Finance

Did Washington’s Predatory Loan Law Backfire?

Did Washington’s Predatory Loan Law Backfire?

Washington State’s year-old law limiting payday lenders has backfired, some of its supporters say, forcing some consumers to find even more predatory loans online. That realization is pushing some of the law’s former backers to suggest a repeal, according to a story by the Tacoma News Tribune. The law is pushing low-income borrowers into “the… Read More

Facebook Profiles Raided: “Lovely Faces” Says FB Had It Coming

Identity Theft

Facebook Profiles Raided: “Lovely Faces” Says FB Had It Coming

Facebook Profiles Raided: “Lovely Faces” Says FB Had It Coming

It’s almost Valentine’s Day, and love is in the air. Unfortunately, there’s something else in the air – the anxiety of identity theft as more and more people figure out how to lift personal data from Facebook and apply it any way they want to. Now, two self-professed pranksters have lifted the personal profiles of… Read More

Love and Money: When Tightwads Meet Spendthrifts

Personal Finance

Love and Money: When Tightwads Meet Spendthrifts

Love and Money: When Tightwads Meet Spendthrifts

Sometimes shopping can be a pain in the brain, says behavioral decision researcher Scott Rick, Ph.D. Or not. And the degree to which you anticipate the “pain of paying” is basically what determines whether you are a tightwad or a spendthrift. “People differ in the extent to which they have this distress reaction to spending… Read More

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