Finance
Savings and investments hurt by low interest rates that help banks
U.S. consumers are cutting debt and trying to save more money. The Federal Reserve, in an effort to keep the economy from a double-dip recession, is keeping the benchmark rate of interest artificially low. Low interest rates having been helping many banks out. Banks are making a bit of money. The gap between what ...
Final set for brand new credit card guidelines curbs excessive past due fines
A year's worth of credit card reform concluded Sunday as the last set of new credit card rules was enacted. The latest rules limit late payment fees and other penalties. The Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009 began the reform project, which is now complete. One of the newest federal laws ...
Double dip recession looks more likely
Some economists look for the most optimistic signs, and others try to find the most negative signs. Economic data from the last few months leads some to think a double dip recession, where the economy falters, starts to recover, then tumbles again before bottoming out, is starting to become a real possibility. European analysts also ...
Debt indicators dying out and hurting anticipation loan refunds
Debt indicators -- IRS information about back taxes and other debts taxpayers owe -- are going away. The IRS has sent debt indicators to tax preparers to let them know if their customer's refund might be held to cover back taxes and other debt. Banks trying to determine whether to give someone a short-term loan ...
Choose responsible lending over fewer lending choices
Despite large problems like a state budget that remains in shambles due to rampant government spending, California legislators are reportedly hard at work to come up what they consider to be a responsible lending approach to personal loan company. Rather than allowing individuals to choose for themselves, lawmakers would rather hamper payday lending and eliminate ...
