We’ve written about overdraft banking fees before, and they way the abuse the system to milk maximum fees. So numerous and loud were consumer complaints that Congress has responded with proposed bills in the House and Senate. The Federal Reserve is also being pressured to issued new rules. This has the banking industry quaking in [...]
Entries from September 30th, 2009
Banks Rethink Overdraft Fees
September 30th, 2009 · 4 Comments · Banking
Tags: bank of america·Carolyn Maloney·Christopher DOdd·Consumer complaints·JP Morgan Chase·over draft fees·overdrafts·Wells Fargo
When Having Bad Credit Isn’t Your Fault
September 29th, 2009 · 1 Comment · Bankruptcy, Credit Bureaus and Scores, Credit Repair, Credit Reports
Many people think that having bad credit is always someone’s fault. In today’s economic environment, foreclosures are happening right and left and the job market is the worst since 1983. As a result of this crisis, the number of people with bad credit (not just a few missed payments) is increasing. Yesterday I listened to [...]
Tags: bad credit·Bankruptcy·Credit Report Errors·Credit Reports·divorce·health insurance·Identity Theft·Medical Bills·un-employment
A Good Forclosure Defense: Home Affordable Modification Program (HAMP)
September 28th, 2009 · 5 Comments · Mortgages
Many people are facing foreclosure today. If you are one of them, you may be able to delay the process or halt it all together without stepping a foot into court. As part of the “Making Homes Affordable” program, a.k.a Home Affordable Modification Program (HAMP), mortgage servicers are required to review the eligibility of any [...]
Tags: foreclosure·foreclosure procedure·HAMP·Home Affordable Modification Program·lender·Making Homes Affordable Program·Mortgage·mortgage servicer
Ten Items You Don’t Want to Purchase Using a Credit Card
September 25th, 2009 · 3 Comments · Banking, Credit Cards
We posted a blog about a year ago which announced that the Federal Trade Commission (FTC) had filed a lawsuit against credit card issuer CompuCredit (CCRT). One of the (many) allegations made was that CCRT did not properly disclose that it monitored spending and cut credit limits if consumers used their credit cards at “particular places”. A settlement [...]
Tags: behavioral scoring·credit·credit cardholder spending habits·Credit Cards·credit red flags·data profiling·purchasing history
