Narayana Kocherlakota | National Financial News Roundup
Minneapolis Fed gets new head
After 24 years on the job, Federal Reserve Bank of Minneapolis president Gary Stern retired last month. Today it was announced that Narayana Kocherlakota will be his replacement, taking over the position immediately. He will become a voting member of the Federal Open Market Committee in [...]
Chase Sapphire Seeks Contracts with High-Income Consumers
Chase Sapphire card targets big spenders
JP Morgan Chase, after losing $1.59 billion from its credit card operation, is going after more affluent customers with its Chase Sapphire card, which has no credit limit. The card is meant for households with incomes higher than $120,000 per year.
The card offers bonus rewards [...]
Durable Goods Orders Up | Are We Buying Again?
Orders for big-ticket items up
Perhaps it was the Obama press conference March 24, in which he revealed that the Federal Reserve may begin buying Treasury securities. But whatever the case, Greg Morcroft of the Wall Street Journal reports that U.S. financial stocks have, for the time being, regained positive footing. [...]
House Bill 1292 Fights Credit Card Blacklist Discrimination
American Express cheated him
For those of us who have ever been stung by the deceptive or outright harmful practices of credit card companies before, NewCreditRules.com’s Kevin Johnson is in our corner. As he shows us, personal loans are a much safer route for emergency funds than the old plastic.
Recently, he [...]
Pay Off Cash Advances, Charges on AMEX Card, Get Cash
Company offers select customers reward
American Express customers who can pay off all of the cash advances and charges on their credit cards might be eligible for a cash reward.
The company has sent letters to certain customers who could qualify to get $300 if they pay off their full balances in [...]
AMEX is Watching You: Use Cash Advance Instead!
Shop at Wal-Mart, American Express Lowers Your Limit
Kevin Drum blogs on Mother Jones that there’s yet another reason to rely upon a cash advance when you need emergency funds. Actually, that’s my interpretation, because it’s an easy connection to make. And for many thousands of people, it would be exceedingly [...]
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