Monthly Archives: June 2011
Low CD rates prompt consumers to pay off credit cards
Extremely low CD rates have encouraged many consumers to funnel their money into paying off high-interest debt like credit cards.Report claims payday loan cases clog Utah courts
A recent study claims that payday loan cases are clogging up Utah courts. But payday lenders say that the report is biased and misleading.Cost of vacations rising as theme park and flight costs are up
Americans are likely to feel the rising cost of vacations this summer, as plane tickets and amusement parks are getting more expensive.TV pitchman Don Lapre indicted for fraud on 41 charges
TV pitchman Don Lapre has been indicted for multiple fraud charges stemming from his "Greatest Vitamin in the Word" infomercial scheme.Reduced Social Security benefits begrudgingly accepted by AARP
The AARP, the largest lobby group for senior citizens, recently announced it would accept small reductions to Social Security benefits.Big Lots recalls bed after death of young boy
Discount retailer Big Lots has recalled a futon bunk bed sold between 2009 and 2010 following the death of a three-year-old boy in Iowa.Greek financial disaster resounds in Europe, US
Tensions in Greece continue to boil as austerity measures have met heavy civilian resistance. What does this mean for Europe and the U.S.?Advantages of banking with a credit union
Discover some of the more important reasons why credit unions are a more attractive banking option than large commercial banks.Installment loan lenders thrive where payday lenders used to
Many states have tried to eliminate payday loan lenders, but it hasn’t eliminated the need for credit from non-bank sources. Some states have new installment loans stores where payday loan stores once existed as other forms of short term credit fill the void.
Virginians frequenting pawn shops and title lenders more
Many states have passed laws intended to closely regulate, if not outright eliminate, payday loan lending. However, such laws don’t eliminate the need or demand for a short term credit product. The state of Virginia passed laws several years ago capping the interest rate on payday loans, which has reduced use [...]
JPMorgan Chase pays $27 million in Treasury probe
JP Morgan Chase bank has agreed to pay a $2 million to the OCC for alleged false statements and high pressure sales tactics in auto loans. Merchants moving away from debit and credit cards
Merchants are starting to move away from credit and debit cards, as interchange fees charged by banks are making them unpopular.Scammers target payday loan customers
Payday loan collection scams involve harassing phone calls threatening arrest and jail if victims do not pay debts -- which they do not owe.Signs in place that consumer inflation is here to stay
U.S. manufacturing continues to slide down the chute to the slaughterhouse like a greased pig, and consumer inflation responds accordingly.US CEOs bullish on sales, hiring increases
U.S. CEOs surveyed by Business Roundtable were optimistic that sales in the next six months will facilitate increased hiring.Tighter regulation urged by Congress for business credit cards
Members of Congress are lobbying the Federal Reserve to regulate business credit cards more like personal credit cards. American express to issue a new prepaid debit card
American Express is unveiling a prepaid debit card on June 21. It requires no bank and is seen as a new trend in the credit card industry.Little things that can mar a credit report
Watch out for the little things that can gang up on your credit report and bring down your FICO score.
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