Credit Center Archives

By Jim Kuhnhenn, Associated Press Writer WASHINGTON AP) — Unable to muster bipartisan agreement on key banking provisions, Senate Banking Committee Chairman Christopher Dodd said Thursday he will offer his own version of a sweeping overhaul of financial regulations without Republican support. A month of talks between Dodd and Republican Sen. Bob Corker found some common ground but failed to yield agreement on consumer protections and other sticking points. Read more»

What if you could pay back bank fees owed on overdraft charges like you would a normal loan — with a nominal interest rate? Read more»

Question: I’ve heard a lot about the new credit card rules that just went into effect, but what about the new rules on banks? Will I get a break on bank fees? — J. Stocke, Lawrenceville, N.J. Answer: Probably not, and I’ll get to the reason why in a moment. Read more»

Banks are primarily in business to provide credit for customers — as in "borrow at 1%, lend at 3% and be on the first tee by 5 p.m." Read more»

We've regularly chronicled the chilling effect of debt collection practices on U.S. consumer (for examples check here and here). In doing so, consumers have a long list of complaints about scams, aggressive calls, illegal threats, and nasty encounters. Read more»

President Obama took to the road recently to tout a new initiative that would encourage — or maybe twist a few arms is more appropriate — banks to lend money to small businesses. What’s the plan and how can entrepreneurs get in on the action? Read more»

TransUnion is out with a new study that shows how Americans prioritize debt. Among other findings, consumers rank car loans and credit card payments ahead of their monthly mortgage. According to the TransUnion’s quarterly look at consumer payment trend data, Americans pay off their biggest debts in an interesting pecking order, and it looks like this: Read more»

You have to hand it to Bank of America (Stock Quote: BAC). When it comes to credit cards, the bank is king of the jungle. According to J.D. Power & Associates, Bank of America has... Read more»

The vaunted U.S. consumer is in hibernation these days, still trying to catch up on debt before he or she starts spending again. But a new study from Equifax says that consumers aren’t gaining much traction with their debt payments. Read more»