Re-default nation
The big question looming over the push to rewrite the home loans of people struggling to make payments is whether or not such mortgage ... % of all first mortgages in the U.S. Dugan called the results, part of his agency's new Mortgage Metrics report ... consumers replaced lower mortgage payments with increased credit card debt? Is it because the [more...]
Date: 2008-12-08 17:35:26
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News and Blogs: Friday, November 14, 2008
America’s 20 Best Health Plans. Unsurprisingly, my plan is not on this list from MSN and US News & World Report ... higher interest rates on consumer credit cards. For the “News and Blogs” features, which I plan ... . I should take advantage of my Aetna plan more by visiting a doctor for a check-up once in a while [more...]
Date: 2008-11-14 18:30:08
How You Can Stop Identity Theft
The FTC recently released a list of top consumer fraud complaints received in 2007 and not surprisingly, identity theft topped the list for the eighth year in a row at 32% of the overall complaints. Consumers reported over $1.2 billion in losses last year, even though there are many ways to fight identity theft . While we can’t be expected to live an exceedingly paranoid existence, we can be smart by monitoring our free Experian credit report. [more...]
Date: 2009-06-18 19:02:05
FTC's 'Operation Clean Sweep' Targets 'Credit Repair' Companies
The Federal Trade Commission, in cooperation with 25 state agencies in 23 states, ... they can remove negative information from consumers’ credit reports – even if that information is accurate and timely. WHEN: October 23 – 10:30 a.m. WHERE: FTC Headquarters 600 Pennsylvania Avenue, N.W. [more...]
Date: 2008-10-22 09:09:40
Debt Reduction is more Important than Your Credit Score
If you are a baby boomer with a pile of consumer debt, you are not alone ... those with significant credit card debt to worry about. According to a report from the New York Times, credit card companies are showing increased flexibility with consumers who have significant [more...]
Date: 2009-01-04 00:34:49
HSBC are thugs (sorry “partners”)
HSBC has gotten a little aggro lately – an analyst dispute widely reported in the FT and other places ... be found here and here amongst dozens of consumer rip-off reports on the web.Bally managed to report ... but they included penalties as per credit cards. Obviously collection was a problem. Bally filed [more...]
Date: 2009-01-15 23:27:00
Headline News - January 7, 2009
Hypercom Appoints Stuart Taylor Vice President, Global Marketing New Mercator Advisory Group Report: Small Business Credit Card 2008 Update: ... in credit card terms Economix Blog - NYTimes.com: Crisis Comparisons: How Bad Might It Get? Laru ... from Credit Cards, Could Save Consumers $500 Million Annually Over Competing Prepaid Cards Get Rich Slowly [more...]
Date: 2009-01-07 13:30:03
Employers Beware: Red Flag Rules On Address Discrepancies Not Delayed
If you've been following the story of the Red Flag Rules, that we posted about last winter you'll know that on October 22, 2008, ... your business uses consumer reports. If you do background, criminal or credit checks on employees ... the FTC announced a delay in enforcing the rules, moving the date from November 1, 2008 to May [more...]
Date: 2008-10-27 17:21:00
Divorced With a Low Credit Score? Promising News to Raise the Score!
If you’re in the throes of a divorce, or if you’ve just recently gone through one, your credit might have been damaged in the process ... and Experian, are each required by law to provide consumers, upon request, a free copy of their credit report once every 12 months. There’s a free copy for you at www.AnnualCreditReport.com or by calling [more...]
Date: 2009-01-03 21:11:21
How To Deal With Bill Collectors
In today's unstable economy people are consumed with financial matters ... , the credit card company may report you to a collection agency. This debt collection company is hired ... . Initially, you'll receive calls from your credit card company informing you of your late payment [more...]
Date: 2008-12-04 01:40:51
Smaller banks still making loans
Boston Globe reports on local conditions for small businesses: Even as consumer loans become harder to get, ... executives report a continued flow of borrowing by small businesses, despite the credit crisis ... many small businesses in Massachusetts report they are still able to borrow money.In Franklin [more...]
Date: 2008-12-02 10:00:00
How To Purchase A Used Car
How To Purchase A Used Car 14 January 2009 Buying a used car is a bit trickier than buying a new car although you can follow most of the same ... of information online. Check the car manufacturers web site, consumer reports and the edmunds.com. ... or to your credit union before you go shopping and see how much money they’ll be able to lend [more...]
Date: 2009-01-16 10:12:37
How Does Bankruptcy Affect Your Credit Score?
For many consumers facing high levels of debt, bankruptcy may seem like the only available option ... clients will see this blemish on their credit report for up to seven years, but the implications don’ ... , as it can be hard to obtain credit, even with a clean slate. After the bankruptcy declaration [more...]
Date: 2009-01-08 02:16:12
How To Eliminate Credit Card Debt
by Ada Denis There is almost nothing more serious than having too much debt to pay each month. Consumers get debt for many unusual reasons out ... . In the event of default on an unsafe debt a lender may report to a credit-reporting agency, contact ... taking control of your financial position is to learn how to get rid of your credit card debt [more...]
Date: 2008-11-23 17:42:51
Tell Us Something We Don't Know: Consumers Deeper In Debt
From the "not news" file comes a report from credit rating firm, Equifax, that consumers are falling more deeply into debt. According to Reuters, Dann Adams,... This is a content summary only [more...]
Date: 2008-12-23 20:47:24
A Housing Market Detached From Reality
The Ukiah Daily Journal reports from California. “Worried consumers, ... , assets, credit and long-term job stability,’ as requirements for a home loan, said Ginny Richards [more...]
Date: 2008-11-22 17:46:53
User-generated Content Impacts Health Determinations
User-generated Content Impacts Health Determinations WOMMA member GolinHarris’ latest blog post cites a Manhattan Research report that nearly half of ePharma consumers, 47% to be exact, credit user-generated descriptions, opinions and reactions ... in an uproar. Their huge response: trash the Amazon rating of “Spore.” At last check, 92 [more...]
Date: 2008-09-10 08:29:36
MyECheck, Inc. (MYEC.OB) Reports Astronomical Growth for 2008; Revenue Increases 1,096%
Yesterday after the closing bell, MyECheck announced that it has processed about 2 ... system. Unaudited 2008 financial results report that the company’s fourth quarter revenue ... future, particularly in this credit crisis. As credit is reduced, consumers need a fast and safe [more...]
Date: 2009-01-14 13:36:14
Will the consumer credit card debt bubble lead to a collapse of the shopping mall economy?
Recession_levee American and Canadian consumers have long been living beyond their means ... as we see in this 2007 report: Canadians Crushed by Credit Card Debt "The U.S. isn't the only nation ... their credit card debts, forcing banks to come back to the government for a second round of bailouts [more...]
Date: 2008-12-12 15:28:57
The Public Library Renaissance
By FREAKONOMICS Photo: Victoria Peckham Fewer people bought books, CD’s, and DVD’s in 2008 than in the year before ... major-league sports game attendance. As consumer spending recedes in the face of the credit crisis ... reports that public libraries around the country are posting double-digit percentage increases [more...]
Date: 2009-01-16 14:47:39
Getting Rid Of Bad Credit
By Michael Benifez Today's credit crisis is resulting in a more difficult road for consumers to getting a loan and obtaining good rates ... . 1: Obtain a copy of your credit report. You can't repair something you don't know is broken. Once ... . If your credit rating is less than stellar, you can pretty much guarantee you're not going to get the best [more...]
Date: 2009-01-03 08:21:18
New credit score system ready for ‘09
By next spring, two of three credit reporting bureaus will use a new model. Fair Isaac, the developer of FICO scores, has made the biggest change to its mathematical credit ... points because of how the new model fine-tunes the variables it uses to evaluate consumers’ credit use [more...]
Date: 2008-12-15 15:07:34
Which is the bigger problem real estate debt? Credit card debt?
This is one example of why our country is having problems. The following was posted on the web site bankrate.com ... , publisher of the Nilson Report, a payment industry newsletter”. Did I read that right 9.5 credit cards ... scoring model, the number of credit cards a consumer holds is not a factor in the calculation, even [more...]
Date: 2008-10-13 14:55:26
ChexSystems: A Fast Route To Trouble
ChexSystems: A Fast Route To Trouble Not everyone has heard about ChexSystems and, ... , that can be a problem. ChexSystems is a consumer reporting agency, just like Experian, Equifax and TransUnion. Those three are better known, because they report on your credit history and score [more...]
Date: 2008-10-30 15:39:49
US retail sales, eurozone industrial production fall
Wednesday brought yet more gloomy economic data. Bloomberg reports that US consumers are cutting back on spending. Sales at U.S ... of credit led Americans to cut back on everything from car purchases to eating out. The 2.7 percent slump ... in 1992, the Commerce Department said today in Washington... Excluding gas, retail sales fell 1.4 percent [more...]
Date: 2009-01-15 00:21:48
NH’s Attorney General’s Resolutions
NEW HAMPSHIRE’S ATTORNEY GENERAL HAS SOME NEW YEAR’S RESOLUTIONS FOR CONSUMERS TO CONSIDER ... IS TO PROTECT PERSONAL INFORMATION, FROM CREDIT CARDS TO DRIVER’S LICENSES. HER OFFICE IS PROVIDING TIPS ON GETTING A FREE COPY OF YOUR CREDIT REPORT, STAYING SAFE ONLINE, FOILING PHONE FRAUDSTERS - AND EVEN [more...]
Date: 2009-01-02 15:43:47
Four at Four: Looking for Cash
Whatever remaining euphoria that existed on expectations for the passage of a mighty bailout package that will cure all bad debts and even ... s not ideal.” Business as usual means looking forward to the jobs report due out in the morning, the lackluster demand for consumer goods, and ongoing credit problems that have reduced borrowing [more...]
Date: 2008-10-02 11:40:00
The Subprime Crisis Hits Home Hard in California—Package of Bills Heading to the Governor
By Mark Ridley-Thomas California State Senate Chair, Legislative Black Caucus It comes as no surprise, ... and harnessed with unsustainable high interest subprime loans, whether they had good credit ... loans compared to any other group, according to a report by the Consumer Federation of America [more...]
Date: 2008-09-09 22:52:06
BLS BS Exposed: Commercial Bankruptcies Soar
The McClatchy Washington Bureau is reporting Commercial bankruptcies soar, reflecting widening economic woes ... , tighter credit and a reticence among consumers to part with discretionary income. From April ... in California, which logged 3,141 bankruptcies in the second quarter. Texas fielded the next highest number [more...]
Date: 2008-07-20 20:10:33
Boston sales inventory fell by the largest amounts of any major city
But it’s not all good news. PRESS RELEASE: The Altos 10-City Composite Price Index showed a decline in asking prices of 0.8% in November and 2 ... according to the Real-Time Housing Market Report, published by Altos Research, the premier source ... increases. “Tight credit, job losses and plunging consumer confidence continued to pressure listing [more...]
Date: 2008-12-11 16:42:32
RSS Usage is Much Higher than 11%
I just caught the writeup Steve Rubel did on a recent Forrester report on consumer adoption of RSS. Steve (based off the Forrester report) ... interested, so if you accept the premise of the survey, then RSS usership has a fair amount of growth ... and there are far more users in the mainstream who utilize RSS on a daily basis than the survey gives credit [more...]
Date: 2008-10-21 05:04:53
Headline News - September 29, 2009
U.S. Bank Introduces Downloadable Mobile Banking Application Bling Nation - La Junta, Colo. Embraces Mobile Payments The Red Tape Chronicles - MSNBC.com: Consumer groups blast banks' card 'tricks' CashEdge Signs First Round of Banks for Popmoney™ New Javelin Report: Multi-Channel Authentication Via Mobile Banking US News and World Report: Credit Card Fees: 5 Things You Should Know Alaska Option Joins Acculynk Internet PIN Debit Pilot Transaction Wireless Signs AMC [more...]
Date: 2009-09-29 11:31:08
What Are the Most Common Ways to Commit Identity Theft or Fraud?
It’s the number one source of consumer complaints at the Federal Trade Commission (FTC) ... when you’re gone. If your employer is authorized to pull credit reports on employees or potential customers ... number (SSN), bank or credit card account numbers, income, name, address, or phone number, and use [more...]
Date: 2008-10-18 03:19:05
Despite getting details, FTC says ‘file a complaint’
Apparently few --- if any --- of the 950 employees at the Federal Trade Commission listen to radio, feels Grumpy Editor ... to: Debt collectors or debit collection practices. Credit reports ... the hypoed-blabber tag. Going to the FTC --- the nation’s consumer protection arm --- for their take [more...]
Date: 2008-09-23 13:14:48
Automakers are expected to report another month of staggering sales declines for December
The good news for the auto industry in December came when General Motors and Chrysler got their federal bailout. The bad news is coming Monday, when . Many analysts are predicting the industry will report ... consumers avoided big purchases, unemployment and home foreclosures rose, and tight credit markets made [more...]
Date: 2009-01-04 01:32:16
BofA: Mounting Costs Could Lead to Quarterly Loss
Bank of America is scheduled to report fourth quarter 2008 results before the market opens on Tuesday, January 20. Based on our analysis, we at EarningsPreview.com are expecting BAC to report disappointing ... to suffer in this recessionary environment. Consumers are in the midst of a severe credit crunch [more...]
Date: 2009-01-16 08:56:16
Goodbye Circuit City
Goodbye Circuit City Submitted by Doug Thompson on January 16, 2009 - 4:45pm ... retailing. Weak chains — unable to weather the freeze-up in consumer spending, and choked by tight credit ... out to be too little too late. Reports The New York Times: Circuit City, once a bellwether American [more...]
Date: 2009-01-16 20:45:39
FTC: Beware of hurricane relief telemarketing scams
As sure as there will be hurricanes in the Gulf of Mexico each year, ... that people should be wary of bogus fundraising operations that are trying to steal consumers' credit ... hurricane-related trickery that's going on -- there are reports of potential gasoline price gouging [more...]
Date: 2008-09-15 21:16:29
IMF warns of economic riots, police ready for civil unrest
Paulson discussed worst-case scenario at bailout meeting – declare martial law WorldNetDaily | Dec 18, ... everyone rather than a small elite,” London’s Guardian reported. In a recession where consumer spending is plummeting, foreclosures are rampant, workers are losing jobs, credit is tight and markets [more...]
Date: 2008-12-19 06:28:06
Thursday Is New Jobless Day
479K new lucky duckies! And we're shrinking. Gross domestic product contracted at a 0.3 percent annual pace, less than forecast, a Commerce Department report showed today in Washington ... spending boom ended last quarter as the credit crunch deepened. ... Consumer spending dropped [more...]
Date: 2008-10-30 14:14:00
Financials, Cyclicals - Plus Retailers - Weigh On Equities
LOSSES STEEPEN AS EARNINGS REPORTS NEAR The same dragons that have ravaged the countryside and laid waste to the good citizens of Wall Street - ... of other financials lost ground, on a combination of worries about the fourth-quarter earnings reports that are due out shortly, and exposure to the consumer, amid clear signs that credit-card spending [more...]
Date: 2009-01-15 21:10:46
The Fed Translated…..
Release Date: December 16, 2008 The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 ... . No arguments there. Financial markets remain quite strained and credit conditions tight. I’m not sure ... . Let me rephrase that, in light of the Consumer Price Index report this morning, it’s pretty [more...]
Date: 2008-12-17 04:47:10
FTC's Credit Clean Sweep
The Moneysherpa Pages: FTC's Credit Clean Sweep Today, the Federal Trade Commission ("FTC") ... on false and misleading statements by "Credit Repair Operations." Lydia Parnes, Director of the FTC's Bureau of Consumer Protection said, "Companies that promise they are able to scrub your credit reports [more...]
Date: 2008-10-23 21:20:35
Rise in mortgage delinquencies
The Wall Street Journal reported that one credit bureau TransUnion forecasted that the ratio of consumers with mortgages that are two months or more past-due will hit 7.17% at the end of 2009 [more...]
Date: 2008-12-02 17:01:01
GAO issues report on proposed auto bailout
The Government Accountability Office (GAO) has issued a report advising Congress on the factors they should consider in negotiating a rescue package for the auto industry. The summary of that report states: The current economic downturn ... , real estate, and labor markets have reduced consumer confidence and available credit [more...]
Date: 2008-12-08 13:00:13
MortgageNewsClips: Catching Fraud, HSH on Fixed Rate, Super Human, Stephanie Pomboy, Reverses Go Live, Tom Brown, Mod Section 6 links, FDIC Highlights, Accounting
Discussing Loan Reviews with Andy Hall - John Clapp - MortgageOrb chats with Andy Hall, ... that it will take consumers at least five years - and probably more - to recover from the credit crisis ... Oversight Panel’s First Report: Unfortunately, Just What We Expected Elizabeth Warren seems determined [more...]
Date: 2008-12-20 12:53:02
NACUBO: The FTC's Red Flag Rule Identity Theft Prevention Rule May Affect Colleges
The National Association of College and University Business Officers notes that the FTC's Red Flag rule likely applies to colleges ... of consumer reports must develop reasonable policies and procedures when they receive notification from a credit agency that there is an address discrepancy. Second, that financial institutions [more...]
Date: 2008-09-26 17:00:00
Fed Watch: Starting on an Ugly Note
Will the economic recovery package be too “fleeting”: By Tim Duy · January 5, 2009: ... with a truly terrible report on manufacturing. Across the Curve has the details; my eyes were pulled ... prices. Moreover, lending for home purchases (and consumer credit in general) is now fighting against [more...]
Date: 2009-01-05 09:58:58
FTC shuts down O.C. debt-negotiation scam
The Federal Trade Commission said today it has shut down an Orange County debt-negotiation business that instead of helping consumers resolve their ... their bills. The result: Interest on customers’ debts grew, leading to lawsuits, bad credit reports ... bills, drove them to bankruptcy. The FTC charged that Homeland Financial Services LLC of Santa [more...]
Date: 2008-09-25 23:09:42
Toyoda to be Toyota president!
TOKYO: Toyota Motor Corp would change the top management order for improving business performance ... credit and consumer sentiment. ... , has been responsible for the firm’s Japanese and overseas operations. The report comes a day after the world’ [more...]
Date: 2008-12-23 06:45:10
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