One Word For This Economy: Meh.

Personal Finance

One Word For This Economy: Meh.

One Word For This Economy: Meh.

The latest economic reports are in, and they can be summarized in one little word: Meh. The American economy is no longer driving off a cliff. Neither is it “recovering,” exactly. It’s just sort of sitting there limp, like a half-boiled noodle, too soft to stuff back in the box but too hard to enjoy…. Read More

Banks Benefiting from More Business Credit Card Use

Credit Cards

Banks Benefiting from More Business Credit Card Use

Banks Benefiting from More Business Credit Card Use

The National Small Business Association will soon reveal statistics that show small business owners are using their credit cards more often despite being unable to pay down their balance every month as they had in the past, according to a report from the Wall Street Journal. Over the last two years, many small business owners… Read More

CARD Act Dodge? AmEx Teams Up With Facebook

Credit Cards

CARD Act Dodge? AmEx Teams Up With Facebook

CARD Act Dodge? AmEx Teams Up With Facebook

It appears that the CARD Act is making a difference—at least, on college campuses where the law prohibits credit card and bank marketers from soliciting to students. The Federal Reserve recently reported a 17% drop in the number of credit cards issued by banks via college campuses and alumni associations. That’s definitely progress. But there’s… Read More

Fed: Financial Firms Reaped $193 Million From Unemployment Benefits

Personal Finance

Fed: Financial Firms Reaped $193 Million From Unemployment Benefits

Fed: Financial Firms Reaped $193 Million From Unemployment Benefits

It costs money to be poor. Payday loan services, pawn shops, money order providers, and a host of other companies charge low-income people comparatively high rates for basic banking services like paying bills and writing checks. Sometimes, government programs add to the cost. According to a new report by the Federal Reserve, low-income people receiving… Read More

Expert: eBanking Americans Are Low-Hanging Fruit for Breaches

Identity Theft

Expert: eBanking Americans Are Low-Hanging Fruit for Breaches

Expert: eBanking Americans Are Low-Hanging Fruit for Breaches

Every week, it seems, another big company announces that it has lost thousands or millions of sensitive records on American consumers. Morgan Stanley. Sony. Cord Blood Registry. Ever wonder why American consumers keep getting hit by data breaches? It’s because we’re the lowest-hanging fruit for thieves, says Adam Dolby, director of electronic banking at Gemalto,… Read More

Consumers Paid off Credit Cards Big-Time

Credit Cards

Consumers Paid off Credit Cards Big-Time

Consumers Paid off Credit Cards Big-Time

Between the first quarters of 2009 and 2010, Americans paid $72 billion more to reduce their credit card debts than they spent on the cards, according to a study by the credit monitoring bureau TransUnion. As a result, the average credit card borrower saw their total debt obligations slip $601 to $5,165 from the previous… Read More

Poof! Elizabeth Warren to Leave Consumer Protection Agency on Aug. 1

Personal Finance

Poof! Elizabeth Warren to Leave Consumer Protection Agency on Aug. 1

Poof! Elizabeth Warren to Leave Consumer Protection Agency on Aug. 1

And just like that, she’s gone. Elizabeth Warren, the consumer advocate who spent the last year creating the government’s newest consumer protection agency, announced Tuesday that she will leave the bureau on Aug. 1. Warren, a former Harvard law professor, is credited with having created the Consumer Financial Protection Bureau, and led the fight in… Read More

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