The CFPB Announces Its Largest Credit Card Discrimination Settlement Ever

Credit Cards

The CFPB Announces Its Largest Credit Card Discrimination Settlement Ever

The CFPB Announces Its Largest Credit Card Discrimination Settlement Ever

GE Capital discriminated against consumers who indicated they preferred speaking in Spanish, and deceived customers when selling credit card debt relief products, the Consumer Financial Protection Bureau alleged on Wednesday. The firm was ordered to pay $225 million to impacted consumers to end two separate enforcement actions brought by the Department of Justice and the… Read More

Elizabeth Warren’s Student Loan Bill Is Dead, But There’s Still Hope for Borrowers

Students

Elizabeth Warren’s Student Loan Bill Is Dead, But There’s Still Hope for Borrowers

Elizabeth Warren’s Student Loan Bill Is Dead, But There’s Still Hope for Borrowers

The Bank on Students Emergency Loan Refinancing Act is dead. We can debate all we like the wisdom of proposing legislation that calls for additional taxation on consumers rather than allocating a portion of the excess revenues from student loans (an exceedingly profitable and, arguably, perpetually sustainable enterprise). In the meantime, here’s what can and… Read More

Will Obama’s Student Loan Plan Really Help Borrowers?

Students

Will Obama’s Student Loan Plan Really Help Borrowers?

Will Obama’s Student Loan Plan Really Help Borrowers?

It seems that the Obama administration is finally ready to put its money where its mouth has been on the student-loan crisis. The president announced that he will be taking certain executive actions to expand the relief programs the government has in place. One action would eliminate the absurdly limited eligibility standard that currently exists… Read More

Will the New Plan to Cut Your Student Loan Payments Work?

Students

Will the New Plan to Cut Your Student Loan Payments Work?

Will the New Plan to Cut Your Student Loan Payments Work?

Big news on the student loan front: Sen. Elizabeth Warren (D-Mass.) and a cast of thousands — well, 23 of her Democratic Senate colleagues, anyway — introduced the Bank on Students Emergency Loan Refinancing Act. The bill proposes to significantly expand the Federal Direct Student-Loan program by allowing those who financed their higher education in… Read More

How Banks Use Fear to Make You Pay More for a Loan

Personal Finance

How Banks Use Fear to Make You Pay More for a Loan

How Banks Use Fear to Make You Pay More for a Loan

In this era of attention-getting sound bites, the financial services industry has come up with one that seems to work every time. Beefed-up regulatory oversight and capital requirements? It’ll hurt consumers. Bolstered securities disclosure statements? It’ll hurt consumers. The industry repeatedly uses the word “regulation” as code for tougher lending times ahead. Indeed, added regulation… Read More

Consumer Watchdog Files Suit Against For-Profit College

Students

Consumer Watchdog Files Suit Against For-Profit College

Consumer Watchdog Files Suit Against For-Profit College

Many people have seen an ad for ITT Tech at some point — they’re little features of graduates talking about the opportunities their degrees afforded them, and video of the happy graduates playing with their kids and smiling with their families accompany the anecdotes used to sell an ITT education. Smiles may be scarce at… Read More

Can a Credit Card Company Really Come to Your House?

Credit Cards

Can a Credit Card Company Really Come to Your House?

Can a Credit Card Company Really Come to Your House?

There’s a new reason to carefully read the fine print in contracts you sign: to find out who might be coming for dinner. L.A. Times consumer reporter David Lazarus reported this week that credit card issuer Capital One’s cardholder agreement includes some surprising terms. According to Lazarus, the agreement says the company may “contact you… Read More

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay connected to our experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.