New Rules in Effect Today Increase Free Access to Credit Scores

Credit Score

New Rules in Effect Today Increase Free Access to Credit Scores

New Rules in Effect Today Increase Free Access to Credit Scores

New credit score disclosure rules issued by the Federal Reserve Board and the Federal Trade Commission (in association with the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act) go into effect today requiring lenders to provide borrowers with their credit scores if they are denied credit or offered less favorable terms because of those… Read More

Levin Sounds Off On CFPB

Personal Finance

Levin Sounds Off On CFPB

Levin Sounds Off On CFPB

A year after the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 were signed into law and the Consumer Financial Protection Bureau is finally open for business—albiet without a director at the helm. [Related Article: Un-Warrented: American Consumers Lose their Biggest Defender] To say that it’s been a tumultuous year for the new… Read More

What the Government’s New Consumer Watchdog Means for You

Personal Finance

What the Government’s New Consumer Watchdog Means for You

What the Government’s New Consumer Watchdog Means for You

You may never have heard of the Consumer Financial Protection Bureau but the new federal watchdog agency, which officially opens its doors today, is huge news in Washington. While many Republicans and banking industry lobbyists have been focused on killing the agency before it assumes its full power, many Democrats and consumer advocates have worked… Read More

Deadline for EHLP Applications Comes Friday

Mortgages

Deadline for EHLP Applications Comes Friday

Deadline for EHLP Applications Comes Friday

The U.S. Department of Housing and Urban Development’s Emergency Homeowners Loan Program will stop accepting applications on July 22, according to a report from Springfield, Missouri, television station KOLR. This means that consumers interested in receiving mortgage payment assistance from the federal government will need to start filling out paperwork now to beat the deadline…. Read More

CFPB Report: Not All Credit Scores Are Created Equal

Credit Score

CFPB Report: Not All Credit Scores Are Created Equal

CFPB Report: Not All Credit Scores Are Created Equal

So you’ve gotten your free credit score, and you think you’re set. Now you know exactly where you stand, and you know what the credit card companies and banks are thinking about you when you apply for a loan. Right? Um, actually, no. In most cases, the credit score we consumers will soon see will… Read More

A Senate Run and a Jeopardy! Smackdown for CFPB Leaders

Personal Finance

A Senate Run and a Jeopardy! Smackdown for CFPB Leaders

A Senate Run and a Jeopardy! Smackdown for CFPB Leaders

Elizabeth Warren, the consumer advocate credited with creating the new Consumer Financial Protection Bureau, is hinting that she might consider a run for senator in Massachusetts. And Richard Cordray, the man tapped by President Obama to lead the agency, is getting rediscovered for his trivia mastery and game show prowess. [Related article: Obama Taps New… Read More

Financial News Roundup: Homeowners Disillusioned With Values, Back-To-School Shopping On The Cheap

Personal Finance

Financial News Roundup: Homeowners Disillusioned With Values, Back-To-School Shopping On The Cheap

Financial News Roundup: Homeowners Disillusioned With Values, Back-To-School Shopping On The Cheap

Today’s top news headlines feature methods parents are using to make back-to-school shopping more affordable and Americans weigh in on the most pressing economic issues. Plus, find out how homeowners are reacting to falling property values. Parents Plan To Curb Spending On School Supplies This Fall Reuters Consumers continue to pare down their spending, and… Read More

Consumer Watchdog Agency Off to a Running Start

Personal Finance

Consumer Watchdog Agency Off to a Running Start

Consumer Watchdog Agency Off to a Running Start

Even though the government’s newest consumer watchdog agency doesn’t have much power yet, it already has put programs in place to protect people who buy homes, get credit cards and check their credit scores, according to a progress report the agency released Monday. The new Consumer Financial Protection Bureau has created a series of programs… Read More

The Ultimate Guide to Underwater Mortgages

Mortgages

The Ultimate Guide to Underwater Mortgages

The Ultimate Guide to Underwater Mortgages

Feel like you are drowning under your mortgage? Millions of Americans are “underwater” on their home loan, meaning that they owe more than the home is worth. Here are six options for dealing with an upside down mortgage: Option 1: Stay And Pay If you can afford your payments, you may want to hang in… Read More

Letter to the CFPB: A Credit Card Terms & Conditions Wish List

Credit Cards

Letter to the CFPB: A Credit Card Terms & Conditions Wish List

Letter to the CFPB: A Credit Card Terms & Conditions Wish List

Dear CFPB, Thanks so much for taking on the gargantuan task of protecting consumers when it comes to financial matters. I’m really glad that the bureau has signaled that disclosure and transparency needs to be improved. And when it comes to credit card offers, I think a large part of disclosure involves making terms and… Read More

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