Category: Banks
Home Refinance Offers At Cheap Rates Could Cost You Big Bucks
Be careful of bankers or mortgage loan officers offering dirt-low interest rates to refinance a home that you have owned for many years. The deal might not be as good for you as it first appears. Keep in mind that the longer the you pay your mortgage the more money goes toward your principal and [...]
Blumenthal: AG And Senate Candidate Questioning NewAlliance Bank Takeover
Attorney General Richard Blumenthal — AND Democratic candidate for U.S. Senate – today wrote First Niagara and NewAlliance banks asking them to provide information on and justification for their proposed merger. Under Connecticut law, the state Department of Banking may only approve bank mergers that benefit Connecticut’s economy and the public, Blumenthal said in releasing [...]
Some Bank Fees Drop As The Result Of CARD Act, Others Of Course Increase To Make Up The Loss
The CARD Act is now in place and providing important protections for credit cardholders. Consumers are saving millions of dollars through some of these provisions, such as the elimination of over the limit fees and the restrictions on interest rate hikes during the first year of an account. Credit card companies have had to find [...]
How To Protect Against ID Theft
Thanks to Consumer Reports for its effective suggestions on how to diminish ID theft. I will start with my personal recommendation, which may be counterintuitive for those who don’t trust the Internet to do on-line banking. Use on-line banking to pay your bills. Its free (nothing is really free but most banks offer it as [...]
Another Sign of Recovery: Credit Card Mail Solicitations Increase 83%
Look no further than your own mailbox to see that the rebound in the credit card industry is underway. According to a recent study by Synovate Mail Monitor, households in the United States received 640.3 million credit card offers during the second quarter of 2010. This was an 83% increase over the 349.1 million offers mailed [...]
Financial Tips for Newlywed
June is the traditional “wedding season” and many newlyweds are dreaming of a happy life together. Agreement over finances and paying off debt are important preparations for a long-lasting union. According to the study, “Bank On It: Thrifty Couples are the Happiest,”conflict about money predicts divorce better than any other type of disagreement. Couples who [...]
More Credit and Gift Card Protection, Possible Lower Rates Go Into effect Sunday
Some of the final provisions of the CARD Act go into effect next week and these could prove very beneficial for credit card consumers. Starting Sunday, new rules may result in interest rate reductions as well as limitations on some fees. Here is a look at the three major provisions of this part of the CARD Act: Interest [...]
Get Ready To Pay With Your Cell Phone
Bank of America, the largest U.S. consumer bank, and Visa, the world’s largest payment processor, will soon start to let Americans catch up to Japan and some other countries on allowing us to use our smart phones to pay at retail stores. A test program is scheduled to start next month in the New York [...]
New Checking Account Overdraft Rules Now in Effect
Some Americans may be surprised by new changes in their checking accounts. Overdraft protection is no longer available for checking account customers unless they “opted in” for this service. The new Federal Reserve rules started yesterday. Before these new Federal Reserve rules took effect, most banks automatically added courtesy overdraft protection to checking accounts, providing [...]
Wells Fargo Found By Judge “gouging and profiteering,” Ordered To Repay $200 Million
Wells Fargo & Co., which started a national bank scheme 9 years ago, was told last week to repay its customers more than $200 million in fees it took as part of its “unfair and deceptive business practices.” U.S. District Judge William Alsup, the AP reported, “accused Wells Fargo of “profiteering” by changing its policies [...]
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