Banking
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Friday, September 30th, 2011Front page in today’s WSJ was an article about how Bank of America is planning to start charging their customers $5 per month when they use their debit cards. Other banks are testing such fees. Why the new fee? According to the article, the fee is in response to a part in the Dodd-Frank Financial [...]
GASP! A Bank Helping Its Customers Avoid Foreclosure
Thursday, September 8th, 2011Read this in this morning’s WSJ: For Lender, Foreclosure Has Become Dirty Word. It’s a nice story. It’s also made possible by the fact that the bank is small and it owns 75% of the mortgages it services. That’s the difference maker.
ATM Fees Are Going Up
Friday, March 18th, 2011From the WSJ: Some of the nation’s biggest banks are imposing a variety of new fees on people who withdraw money from automated-teller machines. The move is the latest example of the burgeoning new fees that banks are imposing on customers accustomed to years of free services. Banks are scrambling to replace billions of dollars [...]
9 Reasons to Say “No” to Credit in 2011
Thursday, January 13th, 2011Interesting piece I found on Investopedia this morning: 9 Reasons to Say “No” to Credit. Their nine reasons: 1. Financing your purchases doesn’t teach self control. 2. Financing your purchases means you aren’t sticking to your budget. 3. Credit card interest rates are expensive. 4. Credit card interest rates increase when you can’t pay off [...]
What Are Your Thoughts on the Financial Reform Bill?
Thursday, July 15th, 2010As you can probably suspect, I’m having some issues with the finance reform bill. Granted, this article stresses conservative’s dissatisfation with the bill. But, I have to agree on a couple of things. For one, there’s this: The bill would create more than 20 “offices of minority and women inclusion” at the Treasury, Federal Reserve [...]
Banks Getting Back Into Risky Lending?
Thursday, July 15th, 2010From today’s WSJ: Shirley Davis, a 66-year-old retired phone-company administrator who lives in Brooklyn, N.Y., is more than $33,000 in debt, earns just $2,414 a month and filed for bankruptcy in June. Shortly before that, she ripped open an envelope from Capital One Financial Corp., which pitched her a credit card even though it sued [...]
Teen Banking (Our Experience)
Wednesday, July 14th, 2010Last February, my youngest son turned 13. To celebrate this momentous occasion, I took the boys to Wells Fargo to get them Teen Checking Accounts. They had been using Youth Cash Cards, which were nice but had a couple of drawbacks: 1. They could not deposit checks into their accounts. So, I had to cash [...]
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