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If you needed $1,000 for an unexpected expense, where would you get the money?
The National Foundation for Credit Counseling, or NFCC, asked consumers that question in a poll last month. The poll was conducted informally through the counseling service’s website, yet still, the results were sobering.
Thirty-six percent of the 2,667 respondents said they’d tap a
Banking customers hoping for higher interest rates on savings accounts and deposit certificates got another bonk on the head Tuesday from the Federal Reserve, which said it plans to keep a key interest rate at the current level for another two years.
The Federal Open Market Committee decided to keep its target range for the federal
Three people have been arrested as part of an investigation into allegations of credit card skimming at a local restaurant in New Port Richey, Fla.
According to a press statement, the Pasco County sheriff’s office has charged a waitress at a Mugs ‘N Jugs with criminal use of personal identification information, and charged several of the
The federal Consumer Financial Protection Bureau, or CFPB, is officially up and running – but still without a director, a vacancy that limits some of the agency’s enforcement authority.
The Senate Banking Committee had scheduled a hearing the first week of August to consider President Barack Obama’s nomination of Richard Cordray for the position, but the committee
The National Consumer Law Center, or NCLC, has published a Top 10 list of action items for the new federal Consumer Financial Protection Bureau, or CFPB. Among the items is one credit card related to-do, which is to “get inside the books of credit card companies to make sure they’re not charging illegal fees or
The Center for Responsible Lending has issued a scathing report charging that checking account advance loans offered by some U.S. banks are in no respect different from payday loans offered at nonbank storefronts.
Here’s a summary from the July 21 report, “Big Bank Payday Loans”:
While payday loans have typically been offered by non-bank payday loan shops
While federal lawmakers have been bickering over plans to raise the U.S. debt ceiling, consumers have been increasing their own borrowing capacity in the form of auto loans, credit cards, student loans and home equity lines of credit.
That’s according to a recent national report about credit trends from Equifax, a global credit information service headquartered
Tick. Tick. Ticktickticktickticktickticktick.
That might be the sound of the fast-approaching deadline for the federal government to raise the national debt ceiling prior to a default on the government’s obligations.
Homeowners, homebuyers and home sellers might well wonder what that has to do with real estate, housing or mortgages; however, one possible answer is the mortgage interest
Millions of unemployed workers in 40 U.S. states now receive unemployment compensation in the form of a prepaid bank card, instead of a paper check.
These cards can be convenient and less costly for people who don’t have a bank account, and they can save states money. But those benefits come with a dozen different fees
Consumers who want to send money to a friend or relative or make a payment to a business that doesn’t accept credit or debit cards will soon have another option, other than cash or a personal check.
The new service will allow customers of Bank of America, JPMorgan Chase, Wells Fargo and potentially other banks to
