Banks made it easier for consumers and companies to borrow money during the first three months of 2011, according to a survey of top bank lending officials by the Federal Reserve. Banks eased their lending standards on car loans and credit cards, even as demand for new mortgages continued to drop. The biggest change in… Read More
The hacking attack at Sony is even worse than first reported, the company announced today. Sony’s researchers discovered that a second database was breached by hackers, bringing the total number of people exposed to greater risk of identity theft to over 100 million. The new breach occurred at Sony Online Entertainment, a subsidiary based in… Read More
Today’s top news headlines feature a new announcement from Chase about changes to its fee structure and reasons America’s teens may have difficulty finding summer jobs. Plus, find out why lenders are loosening their lending standards. Chase Halts ATM Fee Test CNN Money Chase Bank announced it has stopped its ATM fee test in Illinois… Read More
Here are nine spending-related beliefs linked to a particular evolved mental behavior (called cognitive biases) that you probably don’t even realize is going on.
Norman Googel thought he had done a pretty good job running payday lenders out of his state. As an assistant attorney general in West Virginia, Googel used the state’s usury law to close down payday lender storefronts, which had been using the charters of out-of-state banks to skirt state law. “We cracked down on that… Read More
Maintaining a healthy credit score requires a good bit of focus, determination and hard work. Here are 7 mobile phone applications that can help keep your credit building on track.
Most recently, a group of business owners held a forum on the proposed interchange fee restrictions that would greatly limit what they believe are exorbitant charges, according to a report from the New Orleans Times-Picayune. However, officials at banks large and small say the proposed changes would have a massive, detrimental effect on community institutions… Read More
In general, I’m not a huge advocate for store credit cards. They tend to carry higher than average interest rates and low credit limits. Run wild with these cards and your credit score will likely take a nosedive. Of course, not all store credit cards are created equal. Some, when used responsibly, offer considerable benefits. If… Read More
Surprised by a fee on your checking account? Don’t be. If you’ve tried to get information about the costs of your checking account, you may have come away from the experience ready to stash your money in your mattress. Two recent studies point out just how difficult it is to get straightforward checking account cost… Read More
Today’s top news headlines feature new concerns that middle- to low-income families are struggling to meet their needs and highlights ‘concierge’ medical insurance available to the wealthy. Plus, read about new rules that protect Social Security recipients from having their benefits garnished by banks. Wealthy Buy Specialized Health Insurance The New York Times Affluent Americans… Read More