Tag Archives: economic crisis

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 [...]

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Mortgage Scams Proliferate in Hard Times

April 24, 2009 – 4:07 pm

When newspaper headlines focus on the mortgage crisis and foreclosure rates, crooks’ ears tend to perk up. And that means more and more people are getting sucked into mortgage scams. Because government foreclosure documents are public record, many homeowners are receiving personalized letters filled with false promises of hope. The people who fall for these [...]

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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.

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Historic Dow low puts financial crisis into perspective

March 3, 2009 – 7:56 am

The Dow fell to its lowest level since April 25, 1997. It took nearly 126 months to reach an all-time high of 14,164.53 on October 9, 2007 and a mere 17 months to come tumbling back down.

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