Bank Regulator: We Passed Too Many Bank Regulations!

Personal Finance

Bank Regulator: We Passed Too Many Bank Regulations!

Bank Regulator: We Passed Too Many Bank Regulations!

One of the nation’s top banking regulators delivered an unusually strident critique of recently passed bank reforms, saying the slew of new regulations could hit banks and mortgage services like a “tsunami.” John Walsh, acting Comptroller of the Currency, told a group of bankers last week at the Financial Services Roundtable that they may not… Read More

Credit Cards to Help You Save Money on Home Improvements

Credit Cards

Credit Cards to Help You Save Money on Home Improvements

Credit Cards to Help You Save Money on Home Improvements

The weather’s getting warm and it’s the perfect time to paint your deck or improve your landscaping. If only home improvements didn’t put such a major dent in your wallet, right? A little cash back to offset the cost is always nice. From now until the end of June, these credit cards want to help you create a… Read More

Number of Delinquent Credit Cardholders Slips Again

Credit Cards

Number of Delinquent Credit Cardholders Slips Again

Number of Delinquent Credit Cardholders Slips Again

The rate of consumers who allowed at least one of their credit card accounts to fall 90 days or more behind on payments fell to 0.74 percent in the first three months of the year, according to the latest quarterly statistics from the credit bureau TransUnion. This rate was down from the 0.88 percent observed… Read More

Maximize Credit Rewards, Score a Free Honeymoon

Credit Cards

Maximize Credit Rewards, Score a Free Honeymoon

Maximize Credit Rewards, Score a Free Honeymoon

My friend Marissa is the queen of credit card points, so much so that she she managed to score a free roundtrip ticket to Athens, Greece for her honeymoon a few years ago…and continues to maximize her credit card rewards for travel freebies.

Russell Simmons’ Prepaid Card Company Subpoenaed

Credit Cards

Russell Simmons’ Prepaid Card Company Subpoenaed

Russell Simmons’ Prepaid Card Company Subpoenaed

Florida’s attorney general subpoenaed the prepaid debit card company owned by hip hop mogul Russell Simmons on Thursday, plus four other large prepaid card companies, on allegations that the companies charge deceptive fees. “Failing to disclose fees is essentially stealing money from consumers,” Attorney General Pam Bondi said in a press release. “We will aggressively… Read More

Power Play in Debit Card Swipe Fee Fight

Credit Cards

Power Play in Debit Card Swipe Fee Fight

Power Play in Debit Card Swipe Fee Fight

In the war between big banks and big retailers over control of your wallet, the retailers just won a small but potentially important battle. By pushing Senator Jon Tester (D – Mont.) to retreat on his call for a two-year delay on new limits for debit card swipe fees, the Merchants Payments Coalition may have… Read More

New Credit Card Originations Increase Significantly

Credit Cards

New Credit Card Originations Increase Significantly

New Credit Card Originations Increase Significantly

Year-over-year credit card origination growth rose more than 28 percent between February 2010 and the same month this year, according to the latest statistics from the credit reporting bureau Equifax. This was largely due to a vast increase – totaling more than 75 percent – in the number of cards issued to subprime borrowers, which… Read More

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