Tram Nguyen: A Bit of a Break from the Big Banks

Sometimes, the threat of regulation actually works. This week, JPMorgan Chase and Bank of America both announced changes to their overdraft fees -- an established, if somewhat nefarious, bank practice that has increasingly come under fire during this recession. For years, banks have charged hefty fees for "overdraft protection," raking in billions of dollars in revenue as a result of confusing and manipulative policies that can leave a customer owing hundreds in penalties for tiny over-drawn amounts. [more...]

Date: 2009-09-25 15:01:28

Blog posts (33) | Videos (2)
 

Libor Rises and Bank Stress Measures Worsen

Ah, when you thought the news from equity markets was bad enough, we get a second helping on the interbank front ... likelihood of a global recession spurred banks to hoard cash even after policy makers pumped record ... , that banks charge for such loans climbed 7 basis points to 1.28 percent today, British Bankers' Association [more...]

Date: 2008-10-24 12:03:39

MORE FINANCIAL BLARNEY FROM OBAMA AND BARNEY

Now that Barney Frank and his Democratic friends have brought down the banking industry by forcing banks to give loans to people who couldn't afford ... . It grew out of charges that banks were "redlining" entire inner-city neighborhoods as bad credit risks ... laws so that Judges could arbitrarily reduce interest AND principal of home loans. Hey I lost [more...]

Date: 2008-10-07 01:18:10

Dealing with a bad attitude

Dealing with a bad attitude Posted in Better Living by Seth Barnes on 1/7/2009 WARNING - If you're hoping for inspiration, ... that my credit card company hadn't received the online payment I'd sent from my bank on December 19. Instead, they'd charged me a finance charge. So I called the credit card people. What's annoying [more...]

Date: 2009-01-07 14:13:06

Consumer Alert: Incredimail Fraudulent Charges

Please, anyone who visits my homepage: do not use, install, give money to, give credit card information to, or associate with this company.  I am so disgusted with them I’m about to report them to the BBB. First off, the program ... their contact form and still have not heard back from them. I had to call my bank and dispute the charge [more...]

Date: 2009-01-06 16:30:10

Ecuador files suit to suspend Brazil 'illegal' loan

By Alexandra Valencia QUITO, Nov 20 (Reuters) - Ecuador filed an international lawsuit to suspend payment on a loan owed to a Brazilian government bank, charging that the credit's terms are unlawful, a top government official told Reuters ... that was expelled from the country over a contractual dispute. "We are asking (for) precautionary [more...]

Date: 2008-11-21 02:40:00

Investors rush back to T-bills as credit markets worsen

There’s a big disconnect between the stock market and the credit markets today. The former is calm, while the latter is in another panic. Rates bank charge each other for short-term loans are soaring again, a sign that credit ... has made to pump cash into the banking system over the last week. Meanwhile, spooked investors [more...]

Date: 2008-09-24 19:32:31

A dozen money-saving holiday spending tips

1. Open a current account with the Nationwide, the only UK high street financial institution that does not charge its customers for using their bank ... and credit card providers before your trip to advise them you are going overseas. This will prevent them ... your bank debit card and never a credit card. Credit cards levy a higher ATM transaction fee [more...]

Date: 2009-01-07 18:41:00

Vancouver B.C. Real Estate - Interest Cuts, But Not for YOU

Again With the global financial crisis in mind the Bank of Canada has cut interest rates. The Drop The overnight rate loan rate that banks charge each other dropped by a quarter ... will also dampen the outlook, working through a deterioration in Canada’s terms of trade to moderate [more...]

Date: 2008-10-21 16:20:21

A Bad Week in Ardwulfsville

Over the weeekend, I had my credit card number stolen and some bogus charges made to it. Called the bank immediately and was told that I would need to come in to the branch to sign the paperwork the next day. The customer service rep could not tell me which of the two card numbers [more...]

Date: 2009-01-08 22:00:53

What Are Some of the Causes of Bad Credit?

There are a number of factors that can give you a bad credit rating and make getting financing of any kind difficult, or at the least, more expensive. The lower your credit score, the more likely a bank or other finance company is to charge you higher rates of interest if they are willing to ... [more...]

Date: 2008-12-08 19:00:16

How 20 designers charge their clients - part 1

I asked some of my graphic design contacts three questions about their financial practices: How do you charge clients? ... credit cards or PayPal, as I might get one or two requests a year. Most of my clients pay by bank [more...]

Date: 2008-11-11 23:42:56

Grand Theft Wallet

So someone stole my wallet on Wednesday. They got my debit card, my IDs, some cash, all of the photos of the nephew, ... charge from about 3:20pm, and immediately called the bank to dispute the transaction. While making ... m not worried about someone trying to open credit in my name, because I can’t even open credit [more...]

Date: 2009-01-16 21:42:00

Strangers On A Train

Had to take the train all the way out to the sticks again today so I could pick up my car ... s just not the same. “In business, do you take the person who screwed things up and put them in charge of fixing ... sweetly. “Now the original proposal includes foreign banks, credit card debt and school loans. That wasn’ [more...]

Date: 2008-09-22 18:00:46

Get Out of FreeCreditReport.com’s “Triple Advantage”

FreeCreditReport.com is the heavily advertised company that offers “free” credit reports ( ... reminder to check your bank and credit card statements at least once a month so charges like this don ... if you sign up for a trial offer for their monitoring service with a monthly fee. They have huge [more...]

Date: 2008-07-25 18:29:44

Builders Bury Promises Made to Banks

The banking system’s plan to bail out cash-strapped housebuilders by restructuring loans to help them survive a market slump is under strain, ... rules, which permit banks not to classify loans to real estate firms as bad loans the moment ... , blame banks for causing the market slump and lower sales volumes by charging high rates on home loans [more...]

Date: 2009-01-16 12:26:15

Top 10 Scams: How to Avoid Being Victimized

1. Internet fraud The hottest medium for scams, as it is for conducting legitimate business and consumer purchases ... ). For purchases, use only credit cards as a charge back is possible on phoney transactions but make sure ... and call your bank and credit card issuers.  Have a fraud alert placed on your file including a victim [more...]

Date: 2008-12-17 19:19:02

Centennial MasterCard Review

by Daniel Moskel The Centennial card is created for individuals with a low credit score. It is issued by the First Premier Bank a member of the FDIC ... on your first monthly bill. They will be charged towards your available credit limit. It comes with an initial credit limit of $250, and an APR of 9.9%. It can be issued as a MasterCard or Visa [more...]

Date: 2009-01-17 16:34:10

Fed decided to Institute Curbs On Issuers of Credit Cards

On Tuesday rules have been proposed by the Federal Reserve to end banks’ ability to apply credit card payments to balances having lowest interest rates first, implementing legislation Congress passed in May. The Fed also proposed that before charging fees for transactions that exceed credit limits creditors obtain consumers’ consent. The Fed said in a statement that restrictions on lending to people under the age of 21 and subprime credit card fees were also included. [more...]

Date: 2009-09-30 12:56:49

Eliminating Debt in 5 Easy Steps

by John Major It is unfortunate that in today’s economy, debt rules all. From the deepest spots of our wallets, we have charged ourselves to the point of no return. The commercials and ads promising a better car, newer home and more of this and that are all based on lines of credit and bank loans. Our children have been raised in this economy where paying for something means a monthly payment and a low or high interest rate; this is why debt elimination is needed. [more...]

Date: 2009-09-24 11:39:25

Karl Denninger, "Will It All Come Tumbling Down?"

"Will It All Come Tumbling Down?" by Karl Denninger "The American people are wising up, but only to a degree. They are refusing to take on new credit (as they should, seeing as they're being charged not only for their own legitimate level of risk, but also for their next door neighbor who was intentionally given a loan that the bank knew he could not pay) and demanding in some small way that The Bezzle be eradicated. [more...]

Date: 2009-08-18 23:35:00

Two clubs for small mortgage banks; Freddie pushes back 10/1 changes; GMAC steps in to TBW role

  Out here in California, some in the business have been following the case of 28-yr old Garret Gililland III. Originally from the Sacramento area, he was just captured in Spain and brought back to California to face charges of a $100 million mortgage fraud ring. In yet another example of what seems to make the headlines for mortgage brokers, Gililland fled in June 2008 with at least $250,000 in cash. [more...]

Date: 2009-09-28 14:40:26

Merchant Services Charge-back Horror: Why Paypal Ia The Only Way:

_3248 Creative Commons License photo credit: David Boyle in DC There are reasons why I had the outrageous gall to re-start my online marketing ... ), those customers can decide to lie to the banks at any time, about an e-check, or a credit card payment ... to our merchant account when that happened. As if it wasn’t bad enough that people stopped [more...]

Date: 2008-11-01 17:55:10

8/14: Job opening in Florida, Fannie pushes out adverse market charge, UBOC up for sale?

There’s a mortgage-related job opening in Florida! Florida’s top mortgage industry regulator (Financial Regulation Commissioner Don Saxon) resigned due to allegations his agency let thousands of convicted criminals, including bank robbers and racketeers, work in the home loan business. In what may become a great quote, Saxon said, “ [more...]

Date: 2008-08-14 13:37:00

Bailed-Out Banks Stiff Credit Card Customers

Since bailouts are so timely today, Bloomberg weighs in to point out that banks that have been recipients of government bailout money are reacting ... is it that my credit-card loan got pulled? Why am I being charged a higher rate?’” Wonder if Southern ... by charging higher fees on credit cards for consumers. Apparently, they’re trying to get ahead [more...]

Date: 2008-12-19 15:01:55

Nokia Standard Chartered VISA makes it easy to buy Nokia phones

This is not the first time we’ve seen interesting partnerships between banks and technology companies. Back then, Blizzard released the World of Warcraft VISA card that allows rebates to additional ... are as good as cash in my opinion. Instead of charging your credit card to additional air miles or gas, why [more...]

Date: 2008-11-25 12:09:23

Nokia Standard Chartered VISA Card pays your phone bill, and more!

This is not the first time we’ve seen interesting partnerships between banks and technology companies. Back then, Blizzard released the World of Warcraft VISA card that allows rebates to additional ... are as good as cash in my opinion. Instead of charging your credit card to additional air miles or gas, why [more...]

Date: 2008-11-25 12:09:23

NJ car salesman pleads guilty to charges of fraud and identity theft

18 fraudulent loans were detected with a total value of $715,000 Link to source article ... their knowledge or consent, according to a report published in the Atlanticville newspaper. Overall, four ... and North Fork Bank. The Safeguards Rule imposed by the FTC in 1999 is supposed to require adequate [more...]

Date: 2008-09-19 13:17:00

The Fed Should Buy Down Consumer Credit Card Rates - Fast

Lets say I owe the bank behind my credit card  1k dollars and Im paying  10pct interest because the best I can do is a little bit more than the ... that I have my credit card  with and charge it 5pct plus some warrants to in turn loan that money back ... with to help save people’s homes, are many of the same banks that are pounding credit card holders [more...]

Date: 2008-10-24 23:38:36

JP Morgan Joins Wells Fargo

Looks like in banking it is now a two horse race. JP Morgan (JPM) reported today and like Wells Fargo (WFC) ... Our earnings were down significantly due to the unfavorable credit environment and market conditions ... in higher charge-offs and an increase in the allowance for credit losses. However, the firm overall [more...]

Date: 2008-07-17 20:07:37

Bank Fraud: What If You Find Fraud in Your Checking Account?

You opened up your checking account statement for this month, and tons of weird charges are looking back at you ... .  Report the fraud to the FTC at 1-877-ID-THEFT or on their website http://www.ftc.gov/bcp/edu ... they will probably not do much, but they should file a police report.   Call your bank or credit card [more...]

Date: 2008-09-07 13:41:08

Bank Earnings Season Begins - JP Morgan Chase Reports

Today marks the start of financial insitutions reporting their earnings for the fourth quarter - a quarter that pundits say may be the first is ... year due primarily to increased provision for credit losses. Charge volume was up only 1% year over [more...]

Date: 2009-01-15 13:09:08

Barclays shares in new collapse as bank crisis enters second phase - The Guardian, uk - link (aqui)

Phillip Inman and Jill Treanor guardian.co.uk, Friday 16 January 2009 20 ... , which is due to report its figures next month, said profits before tax for 2008 after all charges [more...]

Date: 2009-01-17 10:57:00

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