Experts Say Foreclosure Delays May Harm Housing Recovery

Mortgages

Experts Say Foreclosure Delays May Harm Housing Recovery

Experts Say Foreclosure Delays May Harm Housing Recovery

As a result of the moratorium on foreclosure actions many of the nation’s top financial institutions put in place late last year, there is a massive backup of about 1 million homes in mortgage delinquency that should have been foreclosed on by now, according to a report from USA Today. Currently, experts predict that about… Read More

Child Identity Theft: The 17-10 Solution

Identity Theft

Child Identity Theft: The 17-10 Solution

Child Identity Theft: The 17-10 Solution

This week I had the opportunity to attend a fascinating forum in Washington, DC, to explore the myriad issues surrounding child identity theft, including foster care identity theft (a particularly cruel malady foisted upon children who already begin life behind the eight ball) and identity theft within families. The event was sponsored by the Federal… Read More

Alternative Card Options for Students: Debit or Prepaid?

Students

Alternative Card Options for Students: Debit or Prepaid?

Alternative Card Options for Students: Debit or Prepaid?

For many college-bound students that are too young to qualify for a traditional credit card, the need to manage money often boils down to either using a prepaid or debit card.  Both have similar characteristics, but depending on your financial habits, one may be a better fit. Let’s take a closer look: Debit Cards Debit… Read More

Financial News Roundup: Banks Eliminate Savings Bonds, Risky Loans Return

Personal Finance

Financial News Roundup: Banks Eliminate Savings Bonds, Risky Loans Return

Financial News Roundup: Banks Eliminate Savings Bonds, Risky Loans Return

Today’s top news headlines feature reasons lenders are extending riskier loans to borrowers again and changes in bank-issued savings bonds. Plus, find out the ratio of available jobs to prospective applicants. Private Lenders Extend Loans To Risky Borrowers The Wall Street Journal Analysts say private companies are issuing more subprime loans to risky borrowers who… Read More

Fed: Antitrust Agreement Won’t Lower Swipe Fees

Credit Cards

Fed: Antitrust Agreement Won’t Lower Swipe Fees

Fed: Antitrust Agreement Won’t Lower Swipe Fees

In case you haven’t noticed, there have been some big fights over the small fees consumers pay every time they swipe their debit cards. The loudest fight was over the Durbin Amendment, part of the Dodd-Frank financial reform law, which called for a cap on all debit swipe fees. After an expensive year-long battle, the… Read More

Three Misconceptions About Prepaid Cards

Credit Cards

Three Misconceptions About Prepaid Cards

Three Misconceptions About Prepaid Cards

If you’re feeling a bit fuzzy about what prepaid cards can (and can’t) do for you, you’re not alone. There’s a lot of conflicting information out there right now. Let’s take a look at three common misconceptions and debunk a few myths. Misconception #1: Prepaid cards can help you qualify for a credit card   If you’re considering getting a… Read More

Federal Credit Score Law Will Take Effect Next Week

Credit Score

Federal Credit Score Law Will Take Effect Next Week

Federal Credit Score Law Will Take Effect Next Week

Beginning on July 21, consumers who are rejected by lenders for new lines of credit, such as a credit card or home loan, based on their credit score will be allowed to find out why, according to a report from CBS News. When consumers are denied, the financial institution will have to provide them with… Read More

FDIC Gains Power to Claw Back Failed CEOs’ Pay

Personal Finance

FDIC Gains Power to Claw Back Failed CEOs’ Pay

FDIC Gains Power to Claw Back Failed CEOs’ Pay

Clawbacks. It sounds like something bears might do to terrified hikers, but actually it’s the newest tool at federal regulators’ disposal to penalize corporate leaders for bad behavior and discourage future executives from doing the same. Under new rules approved last week by the FDIC, the agency can use clawbacks to force company executives to… Read More

Consumer Financial Protection Bureau: Ready or Not, We’re Coming

Personal Finance

Consumer Financial Protection Bureau: Ready or Not, We’re Coming

Consumer Financial Protection Bureau: Ready or Not, We’re Coming

The government’s newest consumer watchdog agency plans to hit the ground running, enforcing new rules regarding the nation’s largest banks from the day it opens, even as attacks on its authority and its lack of a permanent director limit the agency’s power in other ways. The Consumer Financial Protection Bureau opens its doors on July… Read More

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