What’s in a name?
November 30, 2009 | ACORN | Comments (0)By any other name, ACORN would smell just as corrupt.
Stop the CFPA
November 30, 2009 | federal legislation, industry | Comments (0)We continue to be impressed with this website and the overall campaign behind it. They are now doing online ads linking to the site.
FDIC to discuss the “unbanked”
November 30, 2009 | alternatives, federal legislation, industry | Comments (0)Public hearing on Wednesday of this week. From the news release:
The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Wednesday, December 2nd, to discuss the results of the FDIC’s National Survey of Unbanked and Underbanked Households, issues related to overdrafts, and the strategic focus of ComE-IN’s future work.
The FDIC conducted its National Survey of Unbanked and Underbanked Households earlier this year as a supplement to the Bureau of the Census’ Current Population Survey. “The data obtained from the FDIC/Census survey are the most comprehensive ever obtained about the demographic characteristics of who is considered underserved, and why,” said FDIC Chairman Sheila C. Bair. “Armed with this groundbreaking information, policymakers and the industry will be better positioned to help broaden all consumers’ access to the financial mainstream.” FDIC Vice Chairman Martin J. Gruenberg observed, “This survey will provide the information base for future efforts to address the financial services needs of unbanked and underbanked households in the United States.”
The Committee will also hear a summary of the FDIC Study of Overdraft Programs and an overview of current and pending guidance regarding overdrafts.
Note that the release contains a link to a live webcast of the meeting.
Cyber bargains
November 30, 2009 | industry, personal finance | Comments (0)Slow news day so we’re posting another item–this about great bargains on the Internet–from YahooFinance:
Where: Apple
When: Ongoing
Exclusively through its online store, Apple is giving customers free engravings on their iPods. It could be a name or a personal message. The deal includes gift packaging and a free message on the packing slip.
Unhappy w/ Holder
November 30, 2009 | ACORN, industry | Comments (0)The website “Big Government” slams the Attorney General for not investigating ACORN.
Good tips
November 30, 2009 | personal finance | Comments (0)Check ‘n Go blog tells you how to save money on the holidays.
Tough times, tough measures
November 30, 2009 | South Carolina, Times Gazette, industry | Comments (0)A major payday lending company is changing its business model in South Carolina. From the story:
An economy suffering from a deep recession and new payday lending regulations set to take effect next year has prompted the Cleveland, Tenn.-based company to turn in the payday loan business licenses for 12 stores, the company said last week.
In exchange, those stores will apply for supervised lending licenses, which would allow Check Into Cash to make longer-term consumer loans, based on a different underwriting criteria, and for unlimited amounts of money.
Bernake won’t give up power quietly
November 29, 2009 | federal legislation, industry, regulation | Comments (0)The Federal Reserve Chairman is fighting the CFPA in the media. From the Bloomberg story:
{Senator Chris} Dodd and Representative Barney Frank, chairman of the House Financial Services Committee, want to take away the Fed’s rule- writing power on consumer financial products and give it to a new Consumer Financial Protection Agency.
“The Federal Reserve, like other regulators around the world, did not do all that it could have to constrain excessive risk-taking in the financial sector in the period leading up to the crisis,” Bernanke said. The Fed has reviewed its performance and “moved aggressively to fix the problems,” he added.
So this is how it works
November 29, 2009 | alternatives, federal legislation, industry | Comments (0)YahooFinance explains how much credit card mistakes affect your FICO score.
Fight is on in Arizona
November 29, 2009 | Arizona, industry | Comments (1)From a Capitol Media Services story that appeared in the Yuma Sun:
Unwilling to go away without a fight, the state’s payday lenders are trying to convince lawmakers to let them stay in business despite a public vote to the contrary.
And they’re hiring some big guns to do that.
The industry has retained the services of former state Attorney General Grant Woods. He told Capitol Media Services that after studying a proposal for a new lease on life by lenders, he’s convinced there is a role for payday lenders.
The lenders have hired Highground, whose owners include Chuck Coughlin and Doug Cole, both confidants of and advisers to Gov. Jan Brewer.
