“Layaway is back!” the headlines are telling us. Numerous retailers are promoting layaway for cash-strapped holiday shoppers in the hopes of boosting sales. Almost every major retailer offers layaway: Sears, Kmart, Walmart, Toys”R”Us and many more. And although it may sound like I am knocking layaway, I do understand how important non-credit options may be… Read More

Bank of America’s plan for a new $5 debit card fee may be bad news for cardholders, but good news for credit unions, says Credit Unions Online. Since BofA’s announcement, several credit unions have seen an uptick in new accounts—one branch of the Arizona State Credit Union reported a 50% increase, writes Gina Ragusa. BofA’s… Read More

Should employers be allowed to use credit reports to screen job applicants? It’s a hot topic that’s gotten a lot of attention here on Credit.com, as well as in state legislatures across the country. Now a group of more than 25 civil rights organizations, consumer groups and labor unions are calling for a halt to… Read More

A small company that plays an important role in millions of American mortgages is getting sued by a big Texas county for $100 million in unpaid mortgage-filing fees. Today Harris County, which includes Houston, may decide to file a similar lawsuit. “I mean, it’s huge,” John Odam, assistant county attorney in Harris County Texas, says… Read More

It’s not that your credit card company deliberately wants to keep you in the dark. Hmmm…okay, maybe some do! But most major banks are pretty good about disclosing terms and conditions on credit cards. The tips I’m talking about here fall into the “I didn’t know that!” category—that you can, indeed, negotiate with your credit… Read More

Much ink has been spilled over ending “Too Big to Fail,” the phenomenon whereby a few large financial institutions have grown so large and so important to the global financial system that the American government is compelled to use taxpayer money to prop them up in times of crisis. Here’s the funny thing: Too Big… Read More

Emily from Ohio has been told that if you pay off a credit card with another credit card that has a lower interest rate, it will lower your credit score.  She wants to know if that is true. [Related Article: 8 Credit Score Myths Debunked] In fact, it is not true.  The interest rate you… Read More

By now the government knows how to create a program that totally stinks at preventing foreclosures. As we reported late last year, the federal government’s Home Affordable Modification Program (HAMP), aimed to help up to 4 million people avoid foreclosure has been an abject failure, and its performance hasn’t improved in the ten months since…. Read More

The fight over bank fees and fairness continues, as President Obama, leading banking industry figures and a diverse group of Wall Street protesters continue to debate bank profits and how the industry should be regulated. Obama moved the debate forward in a press conference Thursday night, clarifying his previous statements about Bank of America’s new… Read More

Thousands of demonstrators took to the streets of lower Manhattan Wednesday to speak out against issues including bank bailouts, tax cuts for the wealthy, and economic conditions that have resulted in joblessness, lower wages and more. The movement, sparked by the hundreds of mostly young protesters who’ve camped out in recent weeks in lower Manhattan’s… Read More