Finance
Banks utilize professional card offers to set traps for customers
Consumers enjoy a higher level of safety from credit card companies. Modern guidelines in the Charge card Accountability and Responsibility and Disclosure Act of 2009 limit numerous of the most abusive practices. Nevertheless, a class of plastic called "professional cards" were exempted from the rules. Professional card holders are operating without a net. Consumer protections ...
Social Security customers, beware bank personal loans
Those who receive Social Security likely aren't in a position to give their money away. That's why there is a plan on the table to eliminate paper Social Security checks entirely. The Treasury has plans to phase the checks out by 2013 and send funds via direct deposit and prepaid debit cards, writes The Wall ...
With just pennies at a time, online credit card scam stole millions
An online credit card scam that stole millions, with just pennies at a time, was halted by the U.S. Federal Trade Commission. The online credit card scam used fake companies and identity theft to steal small amounts of money that went undetected by consumers or fraud detectors. Over the last four years, more than a ...
Fight to weaken new mortgage rules in financial reform by lobbyists
Tuesday the US House and Senate plan to start refining mortgage legislation. The legislation would apply the biggest overhaul to mortgage lending rules in decades. The mortgage legislation is intended to end the risky lending practices blamed for causing the financial crisis. Mortgage industry lobbyists are working really hard to take the teeth out of ...
UK Office of Fair Trading votes no on payday loan cap
America has seen its share of payday loan rate cap legislation in recent years. However, not all countries that allow loan company to serve consumers in need of easy payday loans are so eager to institute a rate cap that could stifle the natural price controls present within a free market economy. According to UK ...
