Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Category Archives: Legislation

Fees Rise as Bank Revenues Drop

June 29, 2009 – 12:13 pm

Wondering how banks are coping with the recession? Easy: They’re dipping deeper into the pockets of consumers who make banking mistakes.
The Washington Post yesterday reported on a topic we’ve covered in depth: increased banking fees.
Customers are paying more to maintain a checking account and withdraw cash from an out-of-system ATM, and when they bounce a check. To [...]

Also posted in Budgeting, Personal Finance | Tagged , , , , , , | Comments (1)

New Credit Laws Put Even Responsible Payers on the Hook

May 22, 2009 – 3:29 pm

Credit card companies are revealing some unintended consequences of the new credit reform bill that was signed into law today.
As we’ve mentioned before, some parts of the bill — like requiring larger print on credit agreements — give consumers a fair shake. But it also means banks may start charging interest on accounts that are [...]

Also posted in Credit, Economy, Government Policy | Tagged , , , | Comments (3)

Dodd Credit Card Reform Bill Close To Passage

May 12, 2009 – 4:43 pm

A credit card can be a convenient way to manage your expenses, or an expensive way to rack up debt and exorbitant fees. If the U.S. Senate passes the credit card reform bill it’s considering this week, that could change. The bill would overhaul a lot of the regulations governing credit card agreements, and has [...]

Also posted in Credit, Featured Posts, Government Policy | Tagged , , , , , , | Comments (2)

Indiana May Require Financial Literacy In Schools

April 8, 2009 – 6:49 pm

It’s always good to see growing recognition of the importance of financial literacy. Indianapolis TV station WISH reports that the state government there is putting a renewed focus on the issue:
Indiana Secretary of State Todd Rokita said the recession is an indication that not enough attention has been paid to educating people about finances and [...]

Also posted in Education | Comments (0)

Credit Limits Shrink; Charge-offs Increase

March 4, 2009 – 4:54 pm

Nearly half of American banks cut their customers’ credit limits in late 2008, but a little preparation can help keep your borrowing options open.

Also posted in Credit, Economy, Featured Posts, Government Policy, Personal Finance | Tagged , , , | Comments (1)

Senate Banking Committee Chair Introduces Credit Card Protection Bill

February 16, 2009 – 4:28 pm

Sens. Chris Dodd (D-CT) and Carl Levin (D-MI) today introduced a new bill to help shield credit card holders from exorbitant fees and penalty interest rates. The legislation would, amongst other things, restrict credit card companies from charging customers for snail mail or telephone payments, institute a number of restrictions on how card issuers can [...]

Tagged , , , , , , , , | Comments (0)