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Defaults in Auto Loans And Mortgages Drop As Defaults in Bank Cards Accelerate
Data through April 2010, released by Standard & Poor’s and Experian for the S&P/Experian Consumer Credit Default Indices show that the monthly default rates declined for first and second mortgages and auto loans, but climbed for the third...
5 Things Consumers Need to Know About the New Federal Credit Card Law
On February 22, most provisions of a new Federal Credit Card Law will go into effect. While many of the changes are designed to help protect card holders, it is still important that consumers practice sound credit management. “Despite changing requirements...
Getting Out of the Hole, Or Digging It Deeper?
Yesterday I focused on the proposition that “irrationality knows no bounds.” Today’s news brings evidence that the same can be said about greed. (Resolving the question of whether or not greed is irrational is left as an exercise...
U.K. Government Announces Proposals to Ensure That Credit And Store Card Companies Give People a Fairer Deal
The U.K. Government has announced new proposals to ensure that credit and store card companies give people a fairer deal, in the latest of a series of reforms designed to make financial services work for consumers.
Man Indicted After Records of Than 130 Million Credit And Debit Cards Allegedly Stolen
Albert Gonzalez, 28, of Miami, Fla., has been indicted for conspiring to hack into computer networks supporting major American retail and financial organizations, and stealing data relating to more than 130 million credit and debit cards. In a two-count...Free Market Rules
Last night Saskia Scholtes and Francesco Guerrera filed a Financial Times report from New York that provided some valuable lessons about how the “free market” really works. Here is the basic story: US banks stand to collect a record $38.5bn...
South Africa to Allow Motorists to Use Credit Cards for Payment of Fuel
Motorists in South Africa will now be able to use credit cards to pay for fuel after filling. Previously it was not allowed in South Africa because of the high costs involved, however, in May, the Department of Energy said that new regulations would be...
Bank, Credit Card Fees Can Sink a Typical U.S. Household Budget
The typical U.S. household pays $500 a year in bank and credit card fees and interest, more than half of which could be avoided
