Filed under: Banks, Fraud
A friend of mine just recently became a victim of identity theft. So naturally, as someone who writes about banking issues, I’ve decided to turn his story into a cautionary tale.
My 64-year-old friend, a former neighbor, is retired and living in Los Angeles. I won’t tell you his name because he’s an extremely private guy and he doesn’t want his name used. He’s also in the beginning stages of Lou Gehrig’s disease, commonly known as ALS. In other words, this guy has enough problems without me publicizing his name. But for the sake of the story, let’s call him “Chuck.”
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Filed under: Credit, Debt, Credit Cards
What would you think if I told you that because of the new CARD Act, which takes effect Feb. 22, visitors to national parks can now carry licensed guns?
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Filed under: Real Estate, Retire, Recession, Mortgages
In just four years, roughly one fourth of the U.S. population will be 55 or over — that translates into some 85 million Americans.
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Filed under: Banks
It’s no revelation that big banks have an image problem these days. And to add proof to what we’d already suspected, a new report from Forrester Research shows that America’s biggest banks are the least trusted banks in the country.
Forrester Research ranked almost 50 financial services firms in the United States, asking approximately 4,500 people if they agree with the following statement: “My financial provider does what’s best for me, not just its own bottom line.”
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Filed under: Banks, Borrowing, Home, Real Estate, Mortgages
If you are like many folks, myself included, you may have been in your car and heard a brief news item earlier about how there was a decline in foreclosures reported in January. And, if you are like many folks, myself included, you may have said to yourself (if, that is, you are the kind of person who typically likes to say things to yourself) that this is surely good news; another sign that a weak economic recovery may be picking up steam?
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Filed under: Retire, Wealth, Investing
Good news, average investors: You too can now afford a share of Warren Buffett’s coveted Berkshire Hathaway stock, thanks to a 50-to-1 stock split that cut the price of shares from $3,500 to around $76.
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Filed under: Borrowing, Debt
Dr. Boyce Watkins recently took Montel Williams to task, in a fairly mild way, for the daytime talk icon’s decision to serve as a spokesman for Money Mutual, a payday lender.
Watkins writes that “No, Montel is not a crook. And neither are Magic Johnson and Russell Simmons, two other people who have loaned their names to companies (Rent-a-Center and The Rush Card) that want to loan us money. Instead, they are pure, hardcore capitalists. . . It’s OK for these guys to go out and make their money, but unregulated capitalism in poor communities is almost never a good thing.”
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Filed under: Insurance, Fraud, Identity Theft, Insurance – Health Insurance
As millions of people lose their employer-based health insurance after being laid off, they seek desperately to find affordable health coverage. Unfortunately many people get caught up in discount heath schemes rather than real health insurance coverage.
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Filed under: Banks, Credit, Real Estate, Mortgages
Citigroup Inc. seems to have finally gotten a clue — We’re in a recession. Hello! — announcing plans Thursday to allow borrowers on the verge of foreclosure in five states to stay in their homes for free for six months if they voluntarily transfer ownership to the bank.
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Filed under: Banks, Banking – Checking Account
Though it seems bankers are doing everything but adding a black cape and a twirling mustache to their wardrobes these days, and bank fees continue to be as insane as usual, not everything about your local bank is necessarily bad. Rewards checking accounts are still one of the few bright spots around.
Rewards checking accounts are accounts offered by banks and some credit unions on which you can earn money if you use your debit card in conjunction with the account. The standard is usually 3% to 4% of the monthly average of whatever’s in your bank account. It’s that simple.
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