Fee Fight Escalates, Chase Drops Debit Rewards

Personal Finance

Fee Fight Escalates, Chase Drops Debit Rewards

Fee Fight Escalates, Chase Drops Debit Rewards

The battle over debit card fees got a little hotter this weekend as Chase bank sent letters to customers saying that starting in July, the bank will stop offering rewards points to people with debit cards. The move is prompted by the Durbin amendment, which aims to limit debt card fees. “Congress recently enacted a… Read More

4 Mind Tricks: Home Buying and the Brain

Mortgages

4 Mind Tricks: Home Buying and the Brain

4 Mind Tricks: Home Buying and the Brain

My fiance and I are apartment hunting, and to avoid going outside our budget, we’re following one of the tricks from my book, Psych Yourself Rich: We are narrowing our options.

Debit Card Scammers To Pay Big Fine

Identity Theft

Debit Card Scammers To Pay Big Fine

Debit Card Scammers To Pay Big Fine

Two men who tricked hundreds of people into signing up for debit cards that the consumers didn’t want will pay more than $800,000 in fines, according to a settlement announced Thursday by the Federal Trade Commission. The scam targeted people who filled out online applications for payday loans. Buried low on the application page were… Read More

Getting Government Out of Fannie and Freddie

Mortgages

Getting Government Out of Fannie and Freddie

Getting Government Out of Fannie and Freddie

The government finally weighed in on three proposals to try to end government support of the mortgage industry. The big question is: Can the U.S. housing market manage to get healthy without government support? It might be interesting to look back at the 70-year history of the government’s support of the housing industry through easier… Read More

Illinois Will Charge Online Sales Tax

Personal Finance

Illinois Will Charge Online Sales Tax

Illinois Will Charge Online Sales Tax

The budget mess in Illinois has forced an answer to a festering question: Should online retailers pay sales tax? Illinois Governor Pat Quinn says yes, hoping that a tax on online sales will help the state collect up to $170 million a year. The state faces a budget deficit of $13 billion. “This law will… Read More

HAMP Still Working for Consumers, Treasury Official Says

Mortgages

HAMP Still Working for Consumers, Treasury Official Says

HAMP Still Working for Consumers, Treasury Official Says

Critics of the Home Affordable Modification Program have often pointed to the large number of foreclosures seen across the U.S. as evidence that the initiative is a failure, according to a report from Reuters. However, Acting Assistant Secretary of the Treasury Timothy Massad said this is not necessarily the case. [Free Tool: Obtain your Identity… Read More

iPhone Satisfies Girl Scout Cookie Addiction

Credit Cards

iPhone Satisfies Girl Scout Cookie Addiction

iPhone Satisfies Girl Scout Cookie Addiction

Would you like a box of Thin Mints and an order of Samoas but just don’t have enough cash in your wallet? Simple: Pay by iPhone. Starting this year, Girl Scout organizations in Ohio and San Diego will be accepting orders facilitated through AppNinja, a tool that allows iPhones to send credit or debit card… Read More

Chase Sees Credit Card Defaults Rise in February

Credit Cards

Chase Sees Credit Card Defaults Rise in February

Chase Sees Credit Card Defaults Rise in February

The latest regulatory filing from JPMorgan Chase revealed that the company saw credit card charge offs – accounts at least 180 days behind in payments that are no longer considered collectable – climb to 6.21 percent in February, up from 5.97 percent the previous month, according to a report from The Associated Press. This was… Read More

Almost All TARP Funds Have Been Paid Back

Personal Finance

Almost All TARP Funds Have Been Paid Back

Almost All TARP Funds Have Been Paid Back

More than 99 percent of the federal funds given to help keep banks in operation during the recent financial crisis through the Troubled Asset Relief Program’s Capital Purchase Program have now been repaid, the U.S. Department of the Treasury announced. Through repayments, interest and other income, the federal government has recouped more than $244 billion… Read More

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