Personal Finance


Law to Protect Consumers Actually Limits Their Access to Credit

By Bill Fay | September 22, 2012

The Credit CARD Act of 2009 was supposed to help borrowers who do not work outside the home, but one interpretation is cutting the access those potential borrowers have to credit. One lawmaker describes this as a return to the “dark days” of lending when women were disenfranchised.

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Auto Loans Easier to Borrow as Defaults Hit All-Time Low

By Bill Fay | September 18, 2012

As millions of Americans struggle to keep up with monthly expenses in a tough economy, consumers in search of automobile loans are in for some good news: not only have…


‘Death Master List’ Paves Way for More Identity Theft

By Bill Fay | September 8, 2012

What started as a legitimate attempt to prevent identify theft has instead resulted in a ripe opportunity for criminal activity. According to recent reports, for as little as $10, criminals…

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Major Banks Discontinue Add-On Services

By Bill Fay | September 6, 2012

To the delight of consumer advocates, several American banks will be discontinuing controversial add-on products such as payment protection and debt protection in the coming year. Bank of America After…

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Credit Card Use Slows as Income Inches Up

By Bill Fay | August 27, 2012

Recent consumer reports indicate there was a slight shift among Americans and their approach toward debt — and it seems to be affecting economic growth. According to a July 2012…


Economists: Coupon Use Is Up, Expected to Continue Increasing

By Bill Fay | August 22, 2012

American consumers are doing their best to pay their bills and stay out of debt by using coupons to shrink costs. It’s working — but much more could be saved, experts say.

Bank fees

Bank Fees Go Up Again; Credit Unions Remain Steady

By Bill Fay | August 16, 2012

American consumers can’t seem to catch a break. It seems every time we look around, prices are going up. Bank fees are no different. recently found that banking costs…

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Some Liberal Theories about Why America Has So Much Consumer Debt

By Katherine Pilnick | August 12, 2012

There’s no denying that a nationwide consumer debt crisis continues to wreak havoc on middle- and lower-class households. But those on opposing sides of the political spectrum disagree about how…

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Some Conservative Theories on Why America Has So Much Consumer Debt

By Katherine Pilnick | August 10, 2012

Conservatives and liberals agree that high levels of national consumer debt continue to deter financial freedom and stifle the economy as a whole. But those with opposing political views disagree…

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Americans’ Median Net Worth Drops 40 Percent

By Bill Fay | August 3, 2012

What a difference a few years can make in the typical American household. The Federal Reserve recently announced that the median U.S. household lost nearly 40 percent of its wealth…