The bankers know exactly whom to blame for the housing collapse and foreclosure fiascos. It’s you – the devious American homeowner who wickedly borrowed the easy money they had on offer.
No blame to the lenders who dreamed up high-risk mortgages and doled them out to anyone with a pulse. No blame to [...]
I’m about to annoy you. You hate the fact that banks have been raising interest rates on credit card balances. By the rules of competition, however, the rise in visible costs will turn out to be a good thing. Fees you can see will eventually go down.
You’ve been paying high costs for credit right along, [...]
Are you thinking of signing up for “courtesy” overdraft protection linked to your debit card? Hold off, until you’ve read this column. Those fees are protection, all right — a protection racket. A federal district judge, who examined the way the giant bank, Wells Fargo, handles debits, called the practice “gouging [...]
Just say no, when your bank or credit union asks if you want “courtesy” noverdraft protection for purchases made with your debit card. This so-called service damages your finances and handed the banks $37.1 billion in fees last year, Moebs $ervices reports. Most of that money was drained from the accounts [...]
Harvard law professor Elizabeth Warren dreamed up the idea of a Consumer Financial Protection Bureau, which Congress authorized as part of Wall Street reform. She campaigned for it tirelessly and understands the issues better than anyone else. She’s the most qualified person, by far, to become its first director – the one that will [...]
