Archive for credit card debt
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New Credit Card Regulations Proposed
At last, the Fed has realized a need to protect consumers from credit card banks. But, don’t become overjoyed or expect credit to flow freely. For some consumers this will be seen as a blessing. For others, the credit available will shrink dramatically.
The following is a statement by Edward L. Yingling, President and CEO of [...]
Reality is Changing for Americans
If you are a regular reader, you are well aware that one of the foremost suggestions we have made is to get your financial house in order. Again, while some have suggested that every household have 3, 6, or 8 months of income safely tucked away in a savings account, I have strongly suggested that [...]
We Have Not Seen the Worst of It Yet: Credit Card Debt
This is an interesting piece I found in the New York Times. Click the link for the full article. Here are a few excerpts. Please note this “email” is written by a banker.
As a banker, let me describe what we do wrong when we accept and review an application for a credit card. First, we [...]
