Big Debit Card Changes Coming

Credit Cards

Big Debit Card Changes Coming

Big Debit Card Changes Coming

Big changes are ahead for debit cards that retailers say will ultimately benefit consumers, though the banks beg to differ. A months-long, multi-million-dollar lobbying push by the nation’s largest banks to delay those debit card changes ended in failure Wednesday afternoon, clearing the way for new rules to take effect in July. “This is huge,”… Read More

Consumer Credit Rose Once Again in April

Personal Finance

Consumer Credit Rose Once Again in April

Consumer Credit Rose Once Again in April

The amount of credit carried by consumers in the U.S. rose to a total of more than $2.48 trillion in April, up 3.1 percent from the more than $2.42 trillion observed at the end of March, according to the latest monthly statistics from the Federal Reserve Board. This change came despite the second drop in… Read More

Despite Big Glitches, Government Still Helping Underwater Homeowners

Mortgages

Despite Big Glitches, Government Still Helping Underwater Homeowners

Despite Big Glitches, Government Still Helping Underwater Homeowners

We’ve run several stories (including this one and that one) about how the federal government’s program to help people avoid foreclosure is an abject failure. Regardless, some people have still managed to get help and keep their homes. Fannie Mae and Freddie Mac, the two taxpayer-owned mortgage giants, helped over a million people refinance their… Read More

Financial News Roundup: Some States Restore Unemployment Benefits, Strategic Defaults Increase

Personal Finance

Financial News Roundup: Some States Restore Unemployment Benefits, Strategic Defaults Increase

Financial News Roundup: Some States Restore Unemployment Benefits, Strategic Defaults Increase

Today’s top news headlines feature reasons a growing number of homeowners are walking away from their mortgages and why some states are placing a large number of employees on unpaid leave. Plus, find out why some states are restoring unemployment benefits. North Carolina and Tennessee Restore Jobless Aid The Huffington Post Unemployed residents in North… Read More

In the Military? Holly Petraeus Talks Financial Protection for Soldiers on Credit Line Radio

Personal Finance

In the Military? Holly Petraeus Talks Financial Protection for Soldiers on Credit Line Radio

In the Military? Holly Petraeus Talks Financial Protection for Soldiers on Credit Line Radio

While her husband David leads U.S. military efforts in Afghanistan, Holly Petraeus remains focused on problems at home: financial traps, questionable dealings and outright scams targeting U.S. military servicemembers. Of the predatory businesses that pop up near military bases, Petraeus said to USAA Magazine, “I once heard those businesses described as bears lined up at… Read More

Swipe Fee Rule Change May Be Delayed

Credit Cards

Swipe Fee Rule Change May Be Delayed

Swipe Fee Rule Change May Be Delayed

Senate Democrats are currently bickering over the proposed rule that would cut debit card transaction fees by 70 percent, with one side arguing that the change would benefit consumers, while the other says it would be too harmful to banks, according to a report from the Capitol Hill news site Politico. Many on the Hill… Read More

Why You Need a Credit Card Account in Your Own Name

Credit Cards

Why You Need a Credit Card Account in Your Own Name

Why You Need a Credit Card Account in Your Own Name

I recently heard from a reader (let’s call her Diane) who was going through a difficult time. Her husband had recently died and she suddenly realized she had very little credit in her own name. Her late husband had been keeper of the finances and he’d done a great job with it. Diane was an authorized user… Read More

Going to Jail? There’s an ATM for That.

Personal Finance

Going to Jail? There’s an ATM for That.

Going to Jail? There’s an ATM for That.

So you’re in jail. What do you do with all that money you had in your pocket when you were arrested? Use an ATM, of course. Las Vegas-based Continental Prison Systems announced recently that it will install four ATM-like kiosks in lobbies at Riker’s Island, New York City’s massive jail complex. The kiosks can be… Read More

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