Visa card

Rush Card | Pros and cons of prepaid cards

Rush Card is one of the many pre-paid credit card options available. The Rushcard service, like most prepaid cards, has features that can make it very useful, especially for people who cannot get or do not want a regular credit card. However, before you make a decision about getting a Rush Card, it is important
executive pay

New Say on Pay rule gives shareholders vote on CEO compensation

Shareholders can now vote on the salaries of executives leading publicly traded companies. The “Say on Pay” provision of the Dodd-Frank financial reform bill was approved by the Federal Trade Commission on Wednesday. The Say on Pay vote is nonbinding, but analysts expect the rule may have a profound effect on the behavior and performance
NYSE on Wall Street

Former GM financial wing Ally may have its own IPO

In the past few weeks, there has been a lot of buzz about an upcoming GM IPO. The related company, Ally Financial Inc., is now looking at an Initial Public Offering all its own next year. Ally Financial used to be GMAC, or General Motors Acceptance Corporation, the loan company formerly part of General Motors.

How To Go About Organizing Your Bills

Bills, Bills, Bills You see them every day, and you hate to open them. What more exciting news could they possibly bring than reminding you of your obligation? Don’t they realize there is a recession going on? Do they think you have extra cash lying around? Rather than looking at them like the 800-pound ogre

Consumers In Search of Debt Relief Need to Stop Being Lazy

Consumers and laziness Many consumers today are looking for debt relief. Without knowing it, however, they have the solutions to many of their problems right in front of them. Due to the recession, now is not the time to be lazy about change or being proactive. Here are some things that need to be addressed
illinois tax increase

Illinois lawmakers approve largest tax increase in state history

An Illinois tax increase of 66 percent was approved by the state’s legislature Wednesday. The state of Illinois, reeling from years of fiscal mismanagement, has been looking for ways to narrow a $15 billion budget deficit. The Illinois income tax increase, the largest in the state’s history, is a desperate step to solve budget woes
Consumer hand squeezes credit card

Credit rating bureaus have double standard for handling disputes

Credit Rating Bureaus issue reports that affect the financial life of everyone who has ever used or will ever use credit. All consumers are judged by their credit rating when it comes to credit cards, mortgages and even job offers.  It may be disturbing to some, however, to learn that the bureaus have a two-tiered
Student loans

Death may not end student loan obligations

In the United States, students in college have racked up more than $885 billion in student loan debt. While students are on the hook for the majority of that debt, some families are facing heart-wrenching decisions. Some families are being held responsible for student debt even after the student dies. The student loan market Student
The recession is beginning to slow down. Will short term loans be able to pick up the pieces?

Short Term Loans Set on Growth After 2008 Bailout

The Bank Bailout Mortgage loans, home equity loans, short term loans and automobile loans are all on the rise now that the economy is on the upswing. The Bank Bailout of 2008 was created to help lenders regain their footing as solid business entities. In years leading up to the recession, lenders were lending so
Social Security card

New rule makes Social Security benefits off-limits for garnishing

A newly enacted law makes it more difficult for debtors to garnish Social Security benefits. Banks cannot garnish any benefit payments like Social Security or disability unless there are two months of benefit payments, which is not incredibly likely to happen. However, the new rule only applies to banks. Government benefits under new protections The
Craft Fair

Nutcracker Market 2010 | 325 vendors to fund the arts

It’s the season of arts and craft fairs, and the Nutcracker Market 2010 is one of the largest. A sale that supports the Houston Ballet, the Nutcracker Market 2010 is a three-day event at the Reliant Center. In a time when arts funding is hard to come by, events like the Nutcracker Market 2010 keep
Credit cards are an important part of consumer finance. Understand them well! (Photo:

To Manage Finances, Consumers Must Understand Credit Cards

Learn to Manage Credit Cards Consumers are suffering financially due to the recession and need to know how to manage their credit cards, savings and investment accounts. In today’s society, credit cards are a staple. Their convenience and many uses make them one of the easiest ways of purchasing items. Unfortunately, they are also a
a banker counting profits from credit card interest rates and penalty fees

Record-low interest rates fatten banks, hinder saving, investing

U.S. consumers are cutting debt and trying to save more money. The Federal Reserve, in an effort to keep the economy from a double-dip recession, is keeping the benchmark interest rate artificially low. Record-low interest rates are fattening bank bottom lines. The low interest rate has created a wide disparity between what financial institutions can
Bank of America

Bank of America to stop offering reverse mortgages

Tuesday morning, Feb. 8, Bank of America announced it will no longer write reverse mortgages. The reverse mortgage business has dropped off significantly in the last year. A rising number of reverse mortgages are also ending up in technical default. Bank of America and reverse mortgages Bank of America first started offering reverse mortgages in
Credit card

30 percent interest for late payments at Bank of America

Just because there are new rules for how banks can raise credit card interest rates does not mean banks will not raise them. Bank of America, for instance, has been reported as raising interest rates to 30 percent for missing a single payment. The increased regulation is making some differences, but may not be as