What if your bank is too big too fail, but fails anyway? As part of the sweeping bank reform law known as Dodd-Frank, big banks must write up living wills for themselves, essentially creating roadmaps for federal regulators on how to dismantle them if the companies drive themselves into bankruptcy and federal ownership (like Lehman… Read More
As we kick off The Debt Diet—and introduce you to our five participants—first, let me say thank you to everyone who applied to be a part of this project. I know that sharing information on your financial lives, and your financial struggles, isn’t easy and I appreciate the trust and faith you have in me…. Read More
More card use, increased transaction value and fewer defaults caused profits for Discover Financial Services to rocket to $593 million in the three-month period ending on May 31. That was up from just $185 million in the same quarter last year. Discover profits rose largely as a result of far fewer defaults suffered by the… Read More
From mountains to beaches, hostels to luxury resorts, street snacks to five star restaurants, one of these six beautiful destinations might be the holiday that fulfills your travel fantasies — and actually fits your budget.
A month ago, one of the nation’s most powerful bank regulators caught our attention when he said in public that the U.S. has too many bank regulations. Now he’s done it again. And this time, it isn’t just us and a few other credit nerds who noticed. John Walsh, acting director of the Office of… Read More
The total home loan market saw applications decline 5.9 percent in the week ending June 17, as far fewer Americans attempted to obtain refinances for their existing loans, according to the latest weekly statistics from the Mortgage Bankers Association. This was caused largely by a 7.2 percent decline in the number of refinance applications filed,… Read More
Foreign transaction fees – charged by lenders for converting U.S. dollars into another currency – are still applied to many American credit card accounts and can add up quickly for consumers, according to a report from the International Business Times. A recent study by Pew Trust found that more than 90 percent of credit cards… Read More
Student loans are “good” debt, right? Not necessarily. Students and their parents who are contemplating big loans for college need to think seriously what life will be like after the diploma is in hand.
Tune in to this week’s installment of The Credit Line, hosted by Credit.com’s chairman and co-founder Adam Levin on Los Angeles’ KFWB 980 AM this Saturday, June 25th, at 9 a.m. PST/Noon EST. The show is co-hosted by L.A. radio personality Jeff Levy. When Identity Theft Takes Over Your Life Imagine discovering that someone has… Read More
We get a lot of credit questions here at Credit.com. In this series of posts, I am answering some of the most frequently asked credit questions we receive. I was a cosigner for my son’s car. He paid it late, and I didn’t even find that out until I tried to refinance our mortgage. I… Read More