Poof! To Make Mortgage Lawsuits Go Away, BofA Kisses $20 Billion Goodbye

Mortgages

Poof! To Make Mortgage Lawsuits Go Away, BofA Kisses $20 Billion Goodbye

Poof! To Make Mortgage Lawsuits Go Away, BofA Kisses $20 Billion Goodbye

Bank of America announced Wednesday that it will set aside $14 billion to repay investors who bought troubled mortgage-backed securities during the housing boom. Revamping its mortgage business will cost the bank another $6 billion. The massive settlement is the biggest penalty paid yet by a bank in the wake of the housing collapse. The… Read More

Financial News Roundup: Prenups On The Rise, Consumer Confidence Plummets

Personal Finance

Financial News Roundup: Prenups On The Rise, Consumer Confidence Plummets

Financial News Roundup: Prenups On The Rise, Consumer Confidence Plummets

Today’s top news headlines feature reasons more couples are drafting prenuptial agreements and a new warning to banks about the increased likelihood of falling victim to computer hacking. Plus, find out why consumer confidence fell below analysts’ expectations. Consumer Confidence Does Not Live Up To Analysts’ Expectations The Associated Press The June Consumer Confidence Index… Read More

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

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay Connected to your experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.