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

Financial News Roundup: California State Schools Raise Tuition, Dollar Stores Lose Momentum

Students

Financial News Roundup: California State Schools Raise Tuition, Dollar Stores Lose Momentum

Financial News Roundup: California State Schools Raise Tuition, Dollar Stores Lose Momentum

Today’s top news headlines feature the details of California State University’s tuition hike and strategies retirees can use to protect their nest eggs while they are supporting adult children. Plus, find out why dollar stores are seeing sales decline. California State Raises Tuition Due To Budget Constraints CNN Money Twenty-three schools in the California State… Read More

Underwater On Your Home Option 4: Short Sale

Mortgages

Underwater On Your Home Option 4: Short Sale

Underwater On Your Home Option 4: Short Sale

  In this series, I detail six possible ways to deal with an “underwater” home—one that’s worth less than the amount of money owed on it. Here is part four of my six-part series. Option #4: Short Sale In a short sale, you sell your home for less than you owe. CoreLogic reports 62,000 short… Read More

Underwater? Negotiating a Settlement On a Second Mortgage

Mortgages

Underwater? Negotiating a Settlement On a Second Mortgage

Underwater? Negotiating a Settlement On a Second Mortgage

CoreLogic has found that 38% of homeowners with second mortgages (including home equity lines of credit) are “underwater,” or owe more than their home is worth. Charles Phelan, founder of SecondMortgageAdvice.com has been advising debt-burdened consumers for years and has been observing a recent trend where lenders are more willing to negotiate settlements on second… Read More

The Best Credit Cards in America: Student and Secured Cards

Credit Cards

The Best Credit Cards in America: Student and Secured Cards

The Best Credit Cards in America: Student and Secured Cards

Welcome to the second installment of The Best Credit Cards in America. In this edition, I’m giving awards for the Best Student Credit Card and the Best Secured Credit Card in America. The category winners are the cards that score the highest number of points based on a unique, 41-factor formula I designed. The formula… Read More

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