China Yeepay (Ease Pay) suffers large-scale hacker attack

Yeepay (Easy Pay), the leading e-payment service in China, confirmed that starting at 4:20 pm on January 14th, ... the devices. The challenge is that many of them don’t have traditional bank accounts or credit cards [more...]

Date: 2009-01-16 02:46:25

Blog posts (146) | Videos (176)
 

Wall Street Breakfast: Must-Know News

New acronym on the block... The government unveiled its newest initiative, called TALF, or Term Asset-Backed Securities Loan Facility. The $200B facility will support consumer finance, including student, auto and credit card loans ... Mac (FRE) and the Federal Home Loan Banks. According to the statement released by the Fed [more...]

Date: 2008-11-26 12:14:47

Wall Street Breakfast: Must-Know News

BoA to consumers: Feel free to sue... Bank of America ( BAC ) is dropping a requirement that forced consumers with disputes on credit cards or other accounts to enter into arbitration. The move, which comes as the government pushes for stronger consumer financial protection, is considered a win for consumers, as many faulted the arbitration process for being biased. Consumers will now be able to file lawsuits directly against the bank if they suspect unfair or illegal practices. [more...]

Date: 2009-08-14 11:15:44

Flat is the new up!

rich, just like it didn’t stop Donald Trump. Instead, it should make you adjust how you control your finances ... : Pay off your debt – list out every penny you owe and the interest rate next to it. Chances ... from the bank. So instead of making the minimum payment on your credit cards each month, pay them off. Spend [more...]

Date: 2008-12-09 04:01:41

Borrowing From Big Banks – A Moral Issue?

*Me to group* “Hello everyone. My name is Matt and I’m a recovering big bank customer.” *Group replies in unison* “Hi Matt!” *Me to group* “I’m 33 years old, and have been borrowing from big banks ever since they courted me with offers of credit cards and free t-shirts on my University campus back in the 1990s. [more...]

Date: 2009-07-23 12:15:54

Internet-based Methods for Paying International Employees

by Mary Bush A number of organizations bring international workers to the States for limited periods of time for employment ... , and do not require a US bank account or credit check. The client organization transfers the funds to the card ... of electronic funds transfer (EFT) services available that are faster, more convenient and less [more...]

Date: 2009-01-06 14:53:57

Internet-based Methods for Paying International Employees

by Mary Bush A number of organizations bring international workers to the States for limited periods of time for employment ... , and do not require a US bank account or credit check. The client organization transfers the funds to the card ... of electronic funds transfer (EFT) services available that are faster, more convenient and less [more...]

Date: 2008-12-31 08:24:21

I broke an egg…

Oops…while trying to make some french toast for tea break, I broke an egg. That’s how it is ... , and stretch your debt even longer. Banks love customers like you. Same goes to the the credit card story ... the spending problem, you are half-way to debt-free. The next half is easier than you think [more...]

Date: 2009-01-13 10:00:07

I WANNA A NEW DRUG... ONE THAT WON'T MAKE ME SICK

Some may say this is a bit of a rant, but I believe it needs to be said, and it's my blog, so I will say it ... 2.  Credit card debt is at an all-time, unsustainable high 3.  The banking industry is in total meltdown ... and wait to see what happens?   I'd like to offer another alternative... Pay Attention!  Each [more...]

Date: 2009-01-15 15:52:31

Credit card companies greedy plans have thrown them into the ringer

It is astounding how ugly the situation is getting in the American economy.  It appears like every week there is a fresh scam or another huge financial institution or bank needing capital.  This is making most consumers very frightened and has almost made every market seize up.  Unfortunately I don’t feel we have yet to endure the worse of what may happen.  There is another timebomb waiting to explode that has yet too really hit home and that is the unsecured debt crisis.  Each month more Americans [more...]

Date: 2009-09-24 14:47:25

Bank Owned Foreclosure Investment Tips

by Steven McCarthy Should you learn how to buy bank owned foreclosure properties, ... , food, electricity and the recent doubling of credit card minimum payments. And you can see how ... will protect you from hidden problems that need repair adding extra expense to the property, another perk [more...]

Date: 2008-10-13 16:23:10

BANKS FACE ANOTHER BAD YEAR IN 2009

Rising loan losses, the threat of more regulation and tougher competition adds up to another year of poor profits for banks BY DAVID ELLIS ... a significant deterioration in the health of their credit cards and home equity loan portfolios ... and business loans are starting to surface as well. “There is loan quality deterioration across [more...]

Date: 2008-12-22 15:14:10

Detention and Torture Cases Demand Fast Action from Obama DoJ

As Adam Liptak wrote in The New York Times on Saturday, ... , Ill. when he was arrested for credit card fraud, making false statements on a bank application [more...]

Date: 2009-01-04 22:44:41

Getting Out of Debt Quickly pt 1

You are probably familiar with this feeling: Your bills are constantly piling up, but you feel so far behind that you simply cannot bear to even open them. When you do open them, you quickly realize that there is only enough saved up in your bank accounts for you to make the minimum monthly payments and nothing more. You have plenty of other company all over the country. The average family in America is carrying between $8,000 dollars and $9,000 dollars in debt on their credit cards alone. [more...]

Date: 2009-09-25 11:16:53

Merchant Account Hold: What it is, why it’s done & how to avoid it

An extremely important but seldom talked about topic regarding credit card processing is that of merchant account holds. One of the most financially devastating things that can happen to a business is for a processing bank to freeze its merchant account. If this happens to your merchant account, you won’t be able to access the account and your funds from open authorizations will be held without deposit for an undisclosed period of time. [more...]

Date: 2009-05-19 01:32:28

savings accounts in problem banks. Gen X Finance asks if you got suckered into a fake gas price hike from hurricane Ike ... 29. Rich Credit Debt Loan suggests ways to undo the results of financial trauma. Money Ning ... Posts:A Credit Card Survey, Passive Income, Car Payments @ The Carnival Money Articles To Make [more...]

Date: 2008-09-16 16:36:41

An argument for consumer debt forgiveness

Not a good one, but an argument nonetheless:  A better sollution is to figure out a way to get people out of debt, perhaps make it easier and less stigmatizing to go bancrupt on credit cards, or start forgiving ... the extra debt. So who takes the loss, the banks or other creditors?  [more...]

Date: 2009-01-15 18:25:42

The Dirty Secrets of Debt Reduction (and What to Do About Them)

When I was a sophomore in college, I got my first credit card. I thought it was awesome — it was like free money ... to pay off debt. I was arrogant. I believed this advice didn’t apply to me. But then my car broke down ... , and then paused my debt elimination plans for a few months in order to stash $1,000 in the bank [more...]

Date: 2008-07-17 12:00:34

JPMorgan chief sees bleak year ahead

The US financial and economic crisis will worsen this year as hard-hit consumers default on credit cards and other loans, Jamie Dimon, chief executive of JPMorgan Chase, has predicted. Dimon, whose bank will report Q4 results on Thursday, gave his bleak assessment in an FT interview as bank shares tumbled in key markets on fears [more...]

Date: 2009-01-15 05:31:17

Alienware customer service - a contradiction in terms

Alienware customer service - a contradiction in terms January 15th, 2009 · This order was placed online yesterday, and since then, ... an automated e-mail stating that my credit card had been declined, and advising me to speak ... not processing the transaction properly. The bank then kindly offered to stay on the line while [more...]

Date: 2009-01-15 11:31:36

A perfect storm: the UK’s next banking crisis

The UK has recently undergone a banking crisis, the reasons for which have been much analysed, ... are predominantly made up of credit card debt against households which are breaking all records for indebtedness ... potential in profitable times    All of this means banks are facing wave upon wave of bad debt [more...]

Date: 2009-01-06 12:31:36

Manage Your Checking Account and Stay On Top of Your Finances

This is a guest post from Debt Lead, who has a debt consolidation website by Kimberly Credit Counseling ... and debit card purchases. Most ATMs will give you a receipt with your withdrawal, but this balance ... enroll checking account customers into a program where the bank covers overdrafts for a fee, which [more...]

Date: 2008-07-22 15:30:03

Study: Americans Overwhelmingly Demand Simple Communications

Siegel+Gale recently completed a year long study of 1,214 American homeowners and investors that shows huge demand for simple, ... in the current financial crisis. Moreover, 63% of those surveyed feel that “banks, mortgage lenders ... interest in taking out a loan, and a 63% increased interest in applying for a credit card [more...]

Date: 2009-01-14 17:11:03

Beneficial Finance - Mortgage Review

Beneficial Finance, does personal, auto, and mortgage lending as a retail subsidiary of mega-bank parent HSBC Group (NYSE: HBC) ... of Beneficial Finance should be avoided. They are big pushers of credit cards, home equity loans, and debt consolidation mortgages. You can’t expect much better being a subsidiary of HSBC Mortgage [more...]

Date: 2009-01-14 22:05:31

Jobs Vacancy

Lowongan Kerja PT.MULTI ADIPRAKARSA MANUNGGAL PT Multi Adiprakarsa Manunggal ('KARTUKU') ... , and maintenance of card and non-card based payment processing systems to banking customers and merchants. Due ... in accordance with customer agreements and that collections are made within agreed credit periods [more...]

Date: 2009-01-13 01:55:00

Debt Free

I made a post here yesterday about my problem with Standard Chartered bank ... that can help me with my debt elimination problem. I know this company can prepare a financial plan for me to help me manage my debt but I wonder if they have programs too that can help me deal with credit card [more...]

Date: 2008-12-06 16:11:54

When The Checks Stop Coming In: The Human Beat Box

Posted by Bossip Staff Yes. Another one bites the dust, again: Rap icon Doug E ... by banks looking to collect more than $3.5 million in unpaid mortgages on a trio of his Harlem homes. The rapper, 46, also is being chased by American Express for nearly $60,000 in credit-card debt [more...]

Date: 2008-12-15 15:10:01

Fed bets $800 billion on consumers

That $200 billion aimed at spurring consumer borrowing will come from the Federal Reserve Bank of New York, which will lend that money to holders of securities backed by consumer debt, such as credit card debt. ... He said the fact that the Fed and Treasury had to work together to get an additional $800 [more...]

Date: 2008-11-25 19:04:49

How To Make Money From The Internet

A guide to the easiest ways of how to make money from the internet armed with a computer and a bank account ... is $2,450 per month. Now consider expenses like web hosting at $10 per month and credit-card processing fees of 8% giving costs of $206 per month. So, in this example your profits are $2,234 monthly [more...]

Date: 2009-01-13 05:51:00

Ways to make money on the Internet

First, you need some 'tools'. Open FREE Internet banking accounts to spend and receive payment online.Disposable FREE email addresses.An 'always online' connection to the Internet.A dedicated credit card for the Internet. Second, you need some income. AlienTrust v3.0 Manual surf 25 sites daily to earn 10% daily for 13 days [more...]

Date: 2009-01-13 05:53:00

The Big Bank Job: The Insanity of the $700 Billion Giveaway by Michael Hudson

Dandelion Salad Sent to me by Jason Miller from Thomas Paine’s Corner. Thanks, Jason ... will get rid of their bad mortgages, and also their bad car loans, furniture time payments, credit-card loans [more...]

Date: 2008-09-28 10:05:07

NAB rolls out contactless terminals

National Australia Bank has announced that it will roll out systems to over 500 Melbourne merchants this month, which will enable them to take customers' payment when they hold their cards up to a reader, but has stopped developing technology for payments via mobile phone. One of the new readers (Credit: NAB) Customers won't have to sign or enter their PIN for transactions under $100 for Visa chip cards with the new payWave feature, or under $35 for cards with the rival Mastercard technology. [more...]

Date: 2009-09-21 05:59:01

Good news for credit card users

Finally, some happy news for credit card holders. Late last week, Bank of America announced it will no longer require customers who sign up for their credit cards, bank accounts and certain loans to give away their right to sue in a dispute. Bank of America’s decision is the biggest yet in a growing movement away from mandatory arbitration clauses, which force consumers who have a problem with a service provider into private arbitration forums to settle disputes. [more...]

Date: 2009-08-17 20:47:35

A recent article in Business Week highlights some apparently (IMO) improper practices used by credit-card issuers in collecting debts ... Forum (NAF) … specializes in resolving claims by banks, credit-card companies, and major retailers ... of their credit-card applications to arbitrate any disputes over bills rather than have the cases [more...]

Date: 2008-06-16 19:52:25

Credit Card Settlement Can Trigger Tax

Credit card banks may offer settlement at a reduced amount if you get behind and fail to keep current on your payments. My colleague, Doug Jacobs, talks about Negotiating Your Credit Card Balance in an earlier series of articles on this website. However, if a bank or other finance company agrees to settle a debt [more...]

Date: 2008-09-07 00:48:44

Debtors must go in for credit card counseling

by William Blake Credit card misuse is extremely widespread ... is rejected by banks or financial institutions. They must realize that credit card debt is an unsecured ... on you credit card more frequently than on a monthly basis. It is possible to make a payment whenever [more...]

Date: 2008-11-05 08:40:28

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

Chase Behaving Badly: Unintended Consequences of the Fed's New Credit Card Rules

In late December, banking regulators agreed to new rules to limit actions by credit card issuers that consumer advocates deemed to be abusive ... your account agreement, which is the contract governing your credit card account. It provides ... rule changes would lead banks to restrict credit, particularly to riskier borrowers. What they may [more...]

Date: 2009-01-11 02:26:47

Banks Supposedly Will Cut Consumer Credit Card Lines by $931 Billion if Reforms Mandated

There is a rather amusing story at the Financial Times tonight, "Credit card reforms ‘to cost banks billions’". Let's look at the particulars ... from customers. But how much more are the credit card issuers making due to the tremendous drop in funding ... . The story is based on a study by law firm Morrison & Forester which concluded that banks [more...]

Date: 2008-12-15 01:59:42

Identity Theft Protection

Identity Theft has become one of the biggest crime these days.It is becoming a big problem which can result in million dollars of damage each year ... Security Cards, bank accounts, credit card numbers, etc., a criminal will attempt to open up accounts ... one of us.We are all suffering because of this crime. ID Theft is nothing but a type of  consumer fr [more...]

Date: 2009-01-15 16:00:55

Bretton Woods 2, R.I.P.

A wide range of commentators, including your humble blogger, have worried about the clearly untenable system known as global imbalances, ... central bank is not lending to credit card issuers and banks that provide home equity loans. China buys ... eliminate the need to buy Treasuries to keep the currency low, but would also considerably reduce [more...]

Date: 2008-10-22 08:47:01

Oh, so now the banks want to talk about credit card debt

Funny how impending doom can change their minds. This remains an industry that is just begging to be regulated ... with consumer advocates to urge the government to allow huge portions of credit card debt to be forgiven ... for consumers to erase their credit card debts in bankruptcy. The new pilot program — which the banks [more...]

Date: 2008-10-31 08:38:00

More Bank Woes: Spreads on Credit Card Securitizations Rise

It isn't surprising to see spreads on credit card debt on the increase. In fact, it might seem odd that it has taken this long ... recourse, than from their credit card debt (yes, refis as opposed to purchase money mortgages ... feel newly emboldened by the bill to try to extract more from credit card borrowers than they would [more...]

Date: 2008-09-02 23:37:14

The Schwab Bank Invest First™ Visa Signature® Credit Card

The name of the card has clearly too many symbols and arguably too many syllables, but when the daily financial news is consistently dire, ... against carrying a balance on a credit card from month to month (incidentally, so does Dave Ramsey ... to literally take advantage of a credit card’s bonus features, check this out: Unlimited 2% “cash” back [more...]

Date: 2008-12-09 12:56:30

Believe It, YOU Can Be DEBT Free

Yes, I hear you asking, “HOW is it possible to be debt free”? Fair questions require answers that make sense ... mortgage payment, water bill, credit cards, etc. can cause serious problems. As you know, banks and credit card firms have huge fees waiting to hit us between the eyes if we are late with a payment [more...]

Date: 2009-01-10 00:34:38

How To Avoid Identity Theft

by Mike White With the credit crunch currently in full swing and not looking to improve anytime time soon, ... more sinister and involves the theft of your very existence right down to banking details, credit cards ... do you shred you paperwork or destroy expired credit cards? Applying a little common sense can go a long [more...]

Date: 2009-01-06 11:45:41

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