Watchdog Nominee Advances, Straight into Limbo

Personal Finance

Watchdog Nominee Advances, Straight into Limbo

Watchdog Nominee Advances, Straight into Limbo

President Obama’s nominee to become the first director of the government’s newest consumer protection agency passed his first test today, as the Senate Banking Committee voted to confirm Richard Cordray, sending his nomination to the full Senate. The vote split down party lines, with the committee’s 12 Democrats in support and its 10 Republicans opposed…. Read More

As Occupy Wall Street Grows, Scope of Grievances is Great

Personal Finance

As Occupy Wall Street Grows, Scope of Grievances is Great

As Occupy Wall Street Grows, Scope of Grievances is Great

Katrina Brees paraded around Wall Street Tuesday in a white marching band costume and white furry boots, pulling a tricycle transformed into a sculpture of a pink unicorn. She drove all the way from New Orleans to help with the Occupy Wall Street protests, “to lift spirits and lend support,” she said, resting her hand… Read More

Obama Blasts BofA’s New $5 Fee

Personal Finance

Obama Blasts BofA’s New $5 Fee

Obama Blasts BofA’s New $5 Fee

Criticism of Bank of America’s $5 monthly fee for debit card purchases reached all the way to the White House this week, when President Obama himself blasted the bank for charging the new fee. And he suggested that the newly-established Consumer Financial Protection Bureau has the power to prevent the bank from charging such fees…. Read More

Piggybacking to Boost FICO Scores: Does it Still Work?

Credit Score

Piggybacking to Boost FICO Scores: Does it Still Work?

Piggybacking to Boost FICO Scores: Does it Still Work?

If you’ve gone in search of ways to boost your bad credit score, you may have encountered a trick called “piggybacking.”  It’s a tactic that credit repair services use to raise a consumer’s score simply by adding them as an authorized user on accounts in good standing.  These accounts typically include long credit histories, high… Read More

Report: Fannie Mae Knew About Robo-Signing in 2003

Mortgages

Report: Fannie Mae Knew About Robo-Signing in 2003

Report: Fannie Mae Knew About Robo-Signing in 2003

Fannie Mae, the taxpayer-backed mortgage giant, knew as early as 2003 that foreclosure attorneys were illegally filing falsified documents in court, according to a new government investigation. Eight years later, the company and its regulators still have not taken the steps needed to protect taxpayers and homeowners from the practice, the report found. “Fannie Mae… Read More

How Mark Boyle Lives on $0 a Year

Personal Finance

How Mark Boyle Lives on $0 a Year

How Mark Boyle Lives on $0 a Year

In these lean times, people want to reduce their spending. It’s easy to cut back on non-essentials like video games and restaurant meals, but once you eliminate discretionary spending you’re stuck with an essentials budget that’s hard to reduce. At least that’s what most of us think. Mark Boyle had different ideas. He’d been working… Read More

Facebook Changes Warrant Fed Probe, Privacy Experts Say

Personal Finance

Facebook Changes Warrant Fed Probe, Privacy Experts Say

Facebook Changes Warrant Fed Probe, Privacy Experts Say

A group of privacy and consumer organizations called on the Federal Trade Commission to investigate Facebook for recent changes that they say could endanger citizens’ privacy and violate federal privacy laws. In a letter from the Electronic Privacy Information Center and nine other groups, advocates warned that Facebook’s new policies threaten to share too much… Read More

Problems Persist on the BofA Website for a Fourth Day

Personal Finance

Problems Persist on the BofA Website for a Fourth Day

Problems Persist on the BofA Website for a Fourth Day

Bank of America’s homepage and other sections of its website went down again Tuesday morning, in a continuation of website problems that began last Friday and occurred intermittently throughout the weekend. When the homepage first went down, Bank of America posted a notice saying the page was “temporarily unavailable,” as we reported. Now that’s been… Read More

California Pulls Out of Mortgage Settlement Talks

Mortgages

California Pulls Out of Mortgage Settlement Talks

California Pulls Out of Mortgage Settlement Talks

Calling the national push to reform the mortgage servicing industry “inadequate,” California Attorney General Kamala Harris announced Friday that she is pulling out of the 50-state effort. The move could cause problems for the Obama administration and the nation’s largest banks, which had been pushing for a narrow investigation and a fast settlement regarding alleged… Read More

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