Schumer: Put Checking Account Fees in a Box

Personal Finance

Schumer: Put Checking Account Fees in a Box

Schumer: Put Checking Account Fees in a Box

Tired of getting hit with surprise fees from your bank? Sen. Charles Schumer (D – NY) is calling for a bill requiring banks to place all information about checking account-related fees and charges in an easy-to-read format on checking account applications and promotional materials. The bill would do for checking accounts what the “Schumer Box”… Read More

With Debt, Fear is Your Worst Enemy

Managing Debt

With Debt, Fear is Your Worst Enemy

With Debt, Fear is Your Worst Enemy

Fear is the worst enemy of the debtor. Fear allows us to accept false solutions and incorrect thoughts into our consciousness when we are dealing with debt. Fear is not reality. Overwhelmingly, a pattern emerges for people facing financial troubles in which they eventually become afraid and paralyzed by their situation. They either leap at… Read More

Basic Mortgage Knowledge Escapes Many Consumers

Mortgages

Basic Mortgage Knowledge Escapes Many Consumers

Basic Mortgage Knowledge Escapes Many Consumers

A recent survey of prospective homebuyers found that many are not aware of even basic mortgage concepts, according to Zillow Mortgage Marketplace, which conducted the study. For example, 57 percent said they were not sure how adjustable rate mortgages work, and 55 percent did not realize that rates can vary widely even during a single… Read More

Financial News Roundup: New Medicaid Proposal, Government Sues Deutsche Bank

Personal Finance

Financial News Roundup: New Medicaid Proposal, Government Sues Deutsche Bank

Financial News Roundup: New Medicaid Proposal, Government Sues Deutsche Bank

Today’s top news headlines feature reasons women are more complacent about managing their retirement savings and a new Medicaid proposal designed to ensure access to healthcare for Americans. Plus, find out why the federal government is suing Deutsche Bank for $1 billion. Medicaid Proposal Would Maintain Low-Income Family’s Access to Healthcare The New York Times… Read More

Chase: No More $5 ATM Fees

Personal Finance

Chase: No More $5 ATM Fees

Chase: No More $5 ATM Fees

Chase announced today that it will stop charging non-Chase customers in Illinois $5 to use the bank’s ATMs. Non-customers in Texas will no longer have to pay $4 every time they use a Chase ATM. Instead, fees in both states will revert back to $3, the same rate Chase charges across the country, says Tom… Read More

What Does it Take to Have a Credit Score?

Credit Score

What Does it Take to Have a Credit Score?

What Does it Take to Have a Credit Score?

While having a credit score won’t solve all your problems, it can certainly make your life a bit easier when it comes to financing a new car, purchasing a home, securing cell phone service or getting a line increase on your credit card.  Obviously, it really helps if your score also shows that you’re a… Read More

Federal Fannie and Freddie Changes Likely Won’t Come Soon

Mortgages

Federal Fannie and Freddie Changes Likely Won’t Come Soon

Federal Fannie and Freddie Changes Likely Won’t Come Soon

Bills to end federal control in Fannie Mae and Freddie Mac in both the U.S. Senate and House of Representatives, pushed by Republican lawmakers, have faced such wholesale opposition from those in both parties that neither are expected to pass, according to a report from the San Antonio Express-News. Much of the resistance has come… Read More

The Days of Easy Money Return (Kind of)

Personal Finance

The Days of Easy Money Return (Kind of)

The Days of Easy Money Return (Kind of)

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

As Breach Worsens, Sony Leaders Say They Knew of Security Problems

Identity Theft

As Breach Worsens, Sony Leaders Say They Knew of Security Problems

As Breach Worsens, Sony Leaders Say They Knew of Security Problems

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

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