This Week in Credit News: New Mortgage Rules

Personal Finance

This Week in Credit News: New Mortgage Rules

This Week in Credit News: New Mortgage Rules

The biggest news this week is all about the Consumer Financial Protection Bureau’s new regulations of the mortgage industry. Mixed Reviews on CFPB’s New Mortgage Rules The CFPB announced a slew of new mortgage regulations Thursday that are going to have a major impact on the housing market. Whether they are for the betterment of… Read More

This Week in Credit News: Cliffs & Hangovers

Personal Finance

This Week in Credit News: Cliffs & Hangovers

This Week in Credit News: Cliffs & Hangovers

The biggest news this week is all about the pull-back from the fiscal cliff and the debt hangover that may be awaiting many consumers after shopping too much this holiday season. 4 Ways to Avoid the Holiday Debt Hangover You might have been searching for hangover cures a few days ago, but we have some… Read More

This Week in Credit News: A Wintry Mix

Personal Finance

This Week in Credit News: A Wintry Mix

This Week in Credit News: A Wintry Mix

The news this week was a mix of naughty and nice, as Fannie Mae and Freddie Mac announced they would not be evicting homeowners over the holidays, but the fiscal cliff still looms large. Fiscal Cliff Deal Down to Wrangling Over Details Let’s start with the bad news first: We’re still headed toward the fiscal… Read More

This Week in Credit News: Morgan Stanley Sued

Personal Finance

This Week in Credit News: Morgan Stanley Sued

This Week in Credit News: Morgan Stanley Sued

The biggest credit news this week involved a lawsuit filed by the American Civil Liberties Union over what it alleges are discriminatory loan practices. Morgan Stanley Sued by ACLU Over Discriminatory Loan Practices A lawsuit filed in New York by the ACLU claims that Morgan Stanley discriminated against African-American and Latino homeowners by giving them… Read More

This Week in Credit News: Banks Under Fire

Personal Finance

This Week in Credit News: Banks Under Fire

This Week in Credit News: Banks Under Fire

The biggest news this week is centered around a series of cyberattacks on the major American banks. Major Banks Hit With Biggest Cyberattacks in History Have you had trouble accessing your bank account online this week? That might be because your bank of choice has been under attack from hackers. JPMorgan Chase, Bank of America,… Read More

This Week in Credit News: Hackers & Reformers

Personal Finance

This Week in Credit News: Hackers & Reformers

This Week in Credit News: Hackers & Reformers

This week’s news was full of hacks, scandal and some new mortgage reforms that would make shopping around for a home loan much easier. Hackers Post 450K Credentials Apparently Pilfered From Yahoo Late Wednesday night, news broke that more than 450,000 Yahoo account credentials had been leaked in an effort to make a “wake-up call”… Read More

Could Banking Ever Return to the 3-6-3 Rule?

Personal Finance

Could Banking Ever Return to the 3-6-3 Rule?

Could Banking Ever Return to the 3-6-3 Rule?

There was a lot of talk about how simple banking used to be. How in the old days banks simply took deposits, gave loans and were safely limited by regulation. It was so staid that there was an unofficial policy in banking called the 3-6-3 rule. According to Investopedia:

Who Needs Paper? Go Green with Online Banking

Personal Finance

Who Needs Paper? Go Green with Online Banking

Who Needs Paper? Go Green with Online Banking

According to the report, “2007 Online Banking and Bill Payment,” over half of US households are already cyber-banking, with about a third of us paying bills via the Web. And if we totally eliminated paper checks and bills … every year … we would also:

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