Bankers to CFPB: Time to Regulate FarmVille’s Virtual Currency

Personal Finance

Bankers to CFPB: Time to Regulate FarmVille’s Virtual Currency

Bankers to CFPB: Time to Regulate FarmVille’s Virtual Currency

For more than a year, the American Bankers Association has pushed to limit the power and budget of the government’s newest consumer watchdog agency. The association, which includes the nation’s largest banks as members, is spending about $2 million every four months on lobbying, according to the Associated Press, most of it to limit the… Read More

Fake Lawsuit Scam Allegedly Netted Millions From Hurting Homeowners

Mortgages

Fake Lawsuit Scam Allegedly Netted Millions From Hurting Homeowners

Fake Lawsuit Scam Allegedly Netted Millions From Hurting Homeowners

Three California-based law firms allegedly swindled millions of dollars from distressed homeowners by making false promises that they could get relief on their mortgages by suing the lenders, according to a lawsuit filed Thursday by California Attorney General Kamala Harris. The lawyers sent at least two million pieces of direct mail to homeowners in 17… Read More

Paying For College With a HELOC?

Students

Paying For College With a HELOC?

Paying For College With a HELOC?

I was surprised to learn how – in this economy – one parent is planning to finance her son’s college tuition with a home equity line of credit. Is this a smart idea?

Consumer Advocate: Simple Phone Hack Exposes Credit Card History

Credit Cards

Consumer Advocate: Simple Phone Hack Exposes Credit Card History

Consumer Advocate: Simple Phone Hack Exposes Credit Card History

Using relatively simple techniques, hackers can tap into some banks’ automated telephone customer service lines and determine balances and account histories, according to an investigation by a prominent consumer advocate. “The trouble with this system is that hackers, crooks, suspicious spouses, or nosy neighbors can access your credit card information using the same method the… Read More

Wells Fargo Will Charge Some People $3 to Use Their Own Money

Personal Finance

Wells Fargo Will Charge Some People $3 to Use Their Own Money

Wells Fargo Will Charge Some People $3 to Use Their Own Money

If you have a checking account with Wells Fargo, look out: The megabank is about to start charging some customers $3 a month to access their own money. According to a fee schedule the bank recently released, customers in Georgia, Oregon, Washington, Nevada and New Mexico will have to pay $3 every month to make… Read More

Credit Score Q&A: Length of Credit History vs. Late Payment History

Credit Score

Credit Score Q&A: Length of Credit History vs. Late Payment History

Credit Score Q&A: Length of Credit History vs. Late Payment History

Steve from Denver had an interesting question. He recently pulled his credit report for the first time and was surprised to see that a 60-days-past-due late payment was showing on a credit account that he never recalled opening. The late payment being reported was posted six years ago and Steve stated that he has no… Read More

Report: CARD Act Helps Consumers and Credit Cards Get Along

Credit Cards

Report: CARD Act Helps Consumers and Credit Cards Get Along

Report: CARD Act Helps Consumers and Credit Cards Get Along

Consumers continue to grow happier with their credit cards, and a federal law requiring better transparency and lower rate increases from credit card companies has a lot to do with it, according to a new report by J.D. Power and Associates. Customer satisfaction dropped to 705 on a 1,000-point scale in 2009, when many card… Read More

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