Fed Proposal Would Cut Debit Card Fees by 70%

Personal Finance

Fed Proposal Would Cut Debit Card Fees by 70%

Fed Proposal Would Cut Debit Card Fees by 70%

The Federal Reserve Board has issued a proposal to limit debit card “swipe fees” to as little as 7 cents per transaction, and to cap them at 12 cents. Swipe fees, or ”interchange fees” as they are more commonly called, are the fees retailers pay when they accept debit or credit cards from consumers. Currently, merchants may pay… Read More

Debit Card Holiday Shopping Tips

Personal Finance

Debit Card Holiday Shopping Tips

Debit Card Holiday Shopping Tips

Debit cards are the plastic du jour this holiday season. According to the National Retail Federation, 43% of consumers will use debit cards for holiday spending, up from 30% in 2005. As for credit cards, fewer than a third of consumers will place their purchases on credit cards – the lowest level since 2002. While… Read More

Debit Cards Offer Fewer Fraud Protections for Consumers

Identity Theft

Debit Cards Offer Fewer Fraud Protections for Consumers

Debit Cards Offer Fewer Fraud Protections for Consumers

Debit card protections simply aren’t as hefty as those for credit cards, according to a report from Reuters. Even though many banks promise that their debit accounts receive the same zero liability protections as their credit cards, that may not be legally true. Credit cards are better protected from fraud for a number of reasons,… Read More

State of Recovery: How are We Doing?

Personal Finance

State of Recovery: How are We Doing?

State of Recovery: How are We Doing?

Fewer people are losing their jobs, and consumers are spending more for Christmas. But new home sales continue to drop, and freaked-out consumers continue to sock away money. Such is the sorry state of the current “recovery,” according to a spate of new reports issued this week. Retail sales grew by .8% in November, the… Read More

Financial News Roundup: Health Reform ‘Unconstitutional,’ Foreclosures Plummet

Personal Finance

Financial News Roundup: Health Reform ‘Unconstitutional,’ Foreclosures Plummet

Financial News Roundup: Health Reform ‘Unconstitutional,’ Foreclosures Plummet

Today’s top news headlines feature possible changes to the healthcare reform law. Plus, see how foreclosure filings fared this month and how it impacts the American Dream. Foreclosures hit record lows CNN Money November saw the largest month-over-month drop in foreclosure filings, which fell by 21 percent. RealtyTrac largely attributed the record-low decline to the… Read More

Need a Big Loan? A New Rule May Keep You Safe

Personal Loans

Need a Big Loan? A New Rule May Keep You Safe

Need a Big Loan? A New Rule May Keep You Safe

Getting a big loan is about to get safer. The Federal Reserve announced this week that it will expand the Truth in Lending Act to cover personal loans and leases worth up to $50,000. The current cutoff is $25,000. So instead of having the lease on your Chrysler 300 protected by federal truth in lending… Read More

Capital One Sees More Charge Offs, Fewer Delinquencies in November

Credit Cards

Capital One Sees More Charge Offs, Fewer Delinquencies in November

Capital One Sees More Charge Offs, Fewer Delinquencies in November

Capital One, the first major U.S. credit card lender to report its delinquency and default figures every month, said it saw a significant drop in the number of accounts that were 30 days or more behind in November, according to a report from Reuters. In its latest regulatory filing, the company said late payments slipped… Read More

Mac Attack: Data Breach At McDonald’s

Identity Theft

Mac Attack: Data Breach At McDonald’s

Mac Attack: Data Breach At McDonald’s

The list of major American consumer brands that have suffered data breaches this year has grown by one in the last few weeks. But it’s a big one – McDonald’s®. The company was recently victimized by data breaches that left the personal data of its customers exposed to cyber criminals. The fast food giant fumbled… Read More

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay connected to our experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.