Over a Quarter of Americans Still Drowning in Home Debt

Mortgages

Over a Quarter of Americans Still Drowning in Home Debt

Over a Quarter of Americans Still Drowning in Home Debt

The number of homeowners who owe more than their house is worth stayed just about steady over the last six months, despite slight improvements in the unemployment rate and other economic indicators, according to a recent study by CoreLogic. More than a quarter of all American households are now underwater or nearly underwater on their… Read More

Join a Credit Union Recently? Join the Club.

Personal Finance

Join a Credit Union Recently? Join the Club.

Join a Credit Union Recently? Join the Club.

If you recently joined a credit union, you’re not alone. More than 725,000 people became new members of credit unions during the 12 months ending in March 2011, according to new research by Dan Geller, vice president of Market Rates Insight, a banking research firm. “It’s definitely a substantial increase,” Geller says. Total deposits at… Read More

HSBC Might Begin Wind-Down of Credit Card Business

Credit Cards

HSBC Might Begin Wind-Down of Credit Card Business

HSBC Might Begin Wind-Down of Credit Card Business

The chief executive officer for HSBC recently said it would begin running down its $33 billion credit card portfolio if there is no buyer, largely in an effort to save money and cut its stake in consumer banking, according to a report from Reuters. This came after news last month that HSBC wanted to cut… Read More

Mega-Retailer Announces Mega-ATMs

Personal Finance

Mega-Retailer Announces Mega-ATMs

Mega-Retailer Announces Mega-ATMs

ATMs are coming to Walmart. And, just like everything the mega-retailer does, they will be supersized. The company announced last week that it will begin placing a “Money Center in a box” inside some of its stores, according to reporting by American Banker. For years Walmart has run Money Centers, staffed by human beings, which… Read More

Study: Student Debt Buys Self-Confidence

Students

Study: Student Debt Buys Self-Confidence

Study: Student Debt Buys Self-Confidence

When I was 22, I’d yet to conquer “needs versus wants” and was living beyond my means.  My monthly credit card statement was often a source of anxiety and regret. But young adults today don’t quite harbor the same emotions when it comes to debt. A new study suggests the more credit card debt and… Read More

Chinese Ratings Agency Says U.S. Already in Default

Personal Finance

Chinese Ratings Agency Says U.S. Already in Default

Chinese Ratings Agency Says U.S. Already in Default

The president of an upstart Chinese ratings agency says the United States already has defaulted on its debt. “In our opinion, the United States has already been defaulting,” Guan Jianzhong, president of Dagong Global Credit Rating Co., told the Global Times, a Chinese newspaper, as quoted by the Wall Street Journal. The U.S. government continues… Read More

Financial News Roundup: Experts Fear Another Recession, College Growing Too Expensive

Personal Finance

Financial News Roundup: Experts Fear Another Recession, College Growing Too Expensive

Financial News Roundup: Experts Fear Another Recession, College Growing Too Expensive

Today’s top news headlines feature data showing more consumers are securing 401(k) loans and gift ideas for Father’s Day. Plus, find out why some financial experts think the U.S. economy may face another recession. Rising College Costs Too Much for Medium-income Families CNN Money Families throughout the country are having trouble affording college as a… Read More

Mobile Banking? Yeah. Consumers Hate It.

Personal Finance

Mobile Banking? Yeah. Consumers Hate It.

Mobile Banking? Yeah. Consumers Hate It.

Bankers love mobile banking. Consumers? Not so much. According to a recent study by the Boston branch of the Federal Reserve, over 65% of Americans use online banking websites to manage their accounts and pay bills. But only 10% use smartphones and other mobile devices to do it. Not only that, people have been much… Read More

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