Mobile Phone Companies Won’t Start Rival Payment Network

Credit Cards

Mobile Phone Companies Won’t Start Rival Payment Network

Mobile Phone Companies Won’t Start Rival Payment Network

Plans for Isis, the proposed payment network from the mobile phone service juggernauts AT&T, T-Mobile and Verizon Wireless, will no longer include the development of a way to process transactions, according to a report from the Wall Street Journal. In particular, the companies have had difficulties keeping up technologically when it comes to a standard… Read More

Life Skills That Can Save You Money

Personal Finance

Life Skills That Can Save You Money

Life Skills That Can Save You Money

Most of us trade money for time, convenience, or skill. If you don’t know how to change the oil on your car, you will have to pay a mechanic to do so for you every 3,000-5,000 miles.

New Federal Rule Protects Benefits from Garnishment

Managing Debt

New Federal Rule Protects Benefits from Garnishment

New Federal Rule Protects Benefits from Garnishment

A new rule protecting certain federal benefits from garnishment became effective May 1, 2011. The regulation, titled, Garnishment of Accounts Containing Federal Benefit Payments, is important because it will help protect the elderly and disabled, among others, who receive federal benefits from having that money taken from their checking or savings accounts by creditors. What… Read More

Deutsche Bank Sued for Fraud; Billions at Stake

Mortgages

Deutsche Bank Sued for Fraud; Billions at Stake

Deutsche Bank Sued for Fraud; Billions at Stake

The United States and the city of Los Angeles filed two different lawsuits against a German Bank this week. The federal lawsuit accuses Deutsche Bank of mortgage fraud. Meanwhile, the city alleges that “Deutsche Bank has become one of the largest slumlords in the City of Los Angeles.” In the federal lawsuit, U.S. Attorney for… Read More

Playstation Invasion: Child Identity Theft is No Game

Identity Theft

Playstation Invasion: Child Identity Theft is No Game

Playstation Invasion: Child Identity Theft is No Game

By now almost everyone I know (and millions of people I haven’t had the pleasure of meeting yet) has read or heard about Sony’s announcement last week that its PlayStation network was hacked and that the Personal identifying Information (PII) of potentially 77 million individuals worldwide has been compromised. Then, earlier this week, Sony notified… Read More

New Rewards, Penalties for Mortgage Mods

Mortgages

New Rewards, Penalties for Mortgage Mods

New Rewards, Penalties for Mortgage Mods

Having trouble refinancing your mortgage, even though you meet all the requirements set by the federal government? Fannie Mae and Freddie Mac, the two government-owned mortgage giants, announced recently that they will use cash to encourage loan servicers to modify loans, and impose new penalties against companies that break the rules. Loan servicers that complete… Read More

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

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