I made an appearance on KRON 4 news here in San Francisco talking about foreclosure myths. Check out the clip!
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Emily Peters
Have you recently been turned down by Wells Fargo or another bank? Did they say that not having a checking account with the bank was a factor in the rejection? If so, we want to hear from you! Send our team an email or post your comments below.
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The first set of changes happens this August with the implementation of two big timing reforms. Consumers will get 45 days of advance notice to significant credit card term changes and will get 21 days to pay their monthly credit card bills.
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There was a lot of talk about how simple banking used to be. How in the old days banks simply took deposits, gave loans and were safely limited by regulation. It was so staid that there was an unofficial policy in banking called the 3-6-3 rule. According to Investopedia:
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Advanta announced today that they’re shutting down all accounts for further purchases. Advanta cardholders will not have their account closed or their repayment accelerated, but will no longer be able to use their card for new purchases. For Advanta small business cardholders, this bad news follows a massive wave of rate hikes earlier in the year.
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We’ve been closely tracking the tidal wave of credit card account changes over the past year. Millions of APR increases were first, followed by credit limit reductions and then fee hikes. It seems like every American with a credit card has received some sort of bad news about their account this year.
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Here’s a nice Mother’s Day gift: Health insurance companies are close to ending the practice of charging women higher premiums for the same coverage. Traditionally, women pay higher premiums for equivalent health coverage, sometimes up to 50 percent more than men. The insurance industry had argued that the price difference was required because women had more health costs, especially during child-bearing years.
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Sallie Mae recently released their fifth college student credit card report. Sallie Mae’s “National Study of Usage Rates and Trends” comes out every four years. Not surprisingly, the report showed that things were very different in 2008 vs. 2004 when it came to student credit cards.
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Local retailers and small business owners are being especially hard hit in this economic downturn. When times are tight, people just aren’t hiring, spending or eating out in their communities. Luckily, there’s someone standing up for the shop around the corner. The 3/50 Project is encouraging people to “Pick 3. Spend $50. Save your local economy.” Here are the details:
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“Foreign Transaction” means any transaction made in a foreign currency, and any transaction made in U.S. dollars if the transaction is made or processed outside of the United States. Foreign transactions include, for example, online purchases from foreign merchants.
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