Follow Friday: Weekly Web Roundup (7/22/11)

Personal Finance

Follow Friday: Weekly Web Roundup (7/22/11)

Follow Friday: Weekly Web Roundup (7/22/11)

We’re happy to bring you a special CFPB edition to our weekly roundup! With its rotating cast of characters, heated hearings and ideological tug-of-war this has been a fight for the ages. Now that the doors have officially opened, we encourage you to read the latest on the goings-on from the most politicized government agency… Read More

CFPB Study: Consumers, Lenders Not Looking at Same Credit Scores

Credit Score

CFPB Study: Consumers, Lenders Not Looking at Same Credit Scores

CFPB Study: Consumers, Lenders Not Looking at Same Credit Scores

Among the responsibilities placed on the Consumer Financial Protection Bureau by the Dodd-Frank financial reform act of 2010 was the study of credit scores—specifically, the differences between scores purchased by consumers and those used by lenders to make credit-granting decisions. Tuesday, the CFPB followed through on this mandate, releasing a report to Congress titled “The… Read More

Four Lenders Come to Agreement with Isis Companies

Personal Loans

Four Lenders Come to Agreement with Isis Companies

Four Lenders Come to Agreement with Isis Companies

Isis, the mobile payment processing network put together by AT&T, T-Mobile and Verizon, recently reached an accord with Visa, MasterCard, American Express and Discover to foster adoption of the program, according to a report from Forbes. The participation of these companies was seen as a major hurdle to getting the system, which will be tested… Read More

Though A Deal on the Debt Ceiling is Close, the Stakes Are High

Personal Finance

Though A Deal on the Debt Ceiling is Close, the Stakes Are High

Though A Deal on the Debt Ceiling is Close, the Stakes Are High

The Obama administration is reportedly working with House Speaker John Boehner to close on a budget deal intended to ward off a debt default. What would a debt default mean for everyday Americans? I’ve listed out five scenarios below. Can somebody say double-dip recession? 1. Higher Taxes In order to pay down its $14.3 trillion… Read More

Can Western Union Improve my Credit Score? Not Yet, But…

Credit Score

Can Western Union Improve my Credit Score? Not Yet, But…

Can Western Union Improve my Credit Score? Not Yet, But…

What if sending a money order by Western Union could help you build your credit score? Taking information about international money transfers and applying it to consumers’ credit reports might help people improve their credit faster, according to a 48-page study published Wednesday by a new federal watchdog agency. The idea might sound far-fetched. Few… Read More

New Rules in Effect Today Increase Free Access to Credit Scores

Credit Score

New Rules in Effect Today Increase Free Access to Credit Scores

New Rules in Effect Today Increase Free Access to Credit Scores

New credit score disclosure rules issued by the Federal Reserve Board and the Federal Trade Commission (in association with the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act) go into effect today requiring lenders to provide borrowers with their credit scores if they are denied credit or offered less favorable terms because of those… Read More

Levin Sounds Off On CFPB

Personal Finance

Levin Sounds Off On CFPB

Levin Sounds Off On CFPB

A year after the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 were signed into law and the Consumer Financial Protection Bureau is finally open for business—albiet without a director at the helm. [Related Article: Un-Warrented: American Consumers Lose their Biggest Defender] To say that it’s been a tumultuous year for the new… Read More

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