Would you trust your bank more if you knew your own credit score? The Fair Isaac Corporation, creator of the FICO score, thinks you would, and it’s pushing banks to share that information with their customers. Continue reading FICO Wants Banks to Tell You Your Credit Score FICO Wants Banks to Tell You Your Credit Score originally appeared on DailyFinance on Fri, 05 Mar 2010 10:47:00. Filed Under: Economy , JP Morgan Chase , Credit Permalink | Tweet this! | Comments

Read the original:
FICO Wants Banks to Tell You Your Credit Score

Americans unexpectedly increased their use of credit for the first time in a year, the U.S. Federal Reserve announced Friday. And while our personal debt levels are a long-term problem, in the short term, that higher spending is good news for the economy. Continue reading U.S. Consumer Credit Rises for the First Time in a Year U.S. Consumer Credit Rises for the First Time in a Year originally appeared on DailyFinance on Fri, 05 Mar 2010 16:08:00. Filed Under: Economy , Credit Permalink | Tweet this! | Comments

See the original post:
U.S. Consumer Credit Rises for the First Time in a Year

CIT Group, a lender to small and medium-sized businesses, is giving John Thain a chance at career redemption. CIT took on scads of subprime mortgage debt during the 2000s, then filed for bankruptcy during the credit crisis. Now, The New York Times reports that Thain, who worked for Goldman Sachs Group ( GS ) and then led Merrill Lynch before Bank of America ( BAC ) bought it, is going to run CIT, which emerged from Chapter 11 two months ago. Continue reading Thain Returns: Tarnished CIT Taps Ex-Merrill Chief as New CEO Thain Returns: Tarnished CIT Taps Ex-Merrill Chief as New CEO originally appeared on DailyFinance on Mon, 08 Feb 2010 09:22:00. Filed Under: Company News , Economy , CIT Group , Goldman Sachs , Bank of America , Credit Permalink | Tweet this! | Comments

See the rest here:
Thain Returns: Tarnished CIT Taps Ex-Merrill Chief as New CEO

The era of the more frugal U.S. consumer continued in December as total consumer debt fell by $1.73 billion, marking the 11th straight monthly decline, the U.S. Federal Reserve said Friday. There’s no doubt that Americans are getting serious about paying down credit card balances and other debt. Continue reading U.S. Consumer Credit Falls for 11th Straight Month U.S. Consumer Credit Falls for 11th Straight Month originally appeared on DailyFinance on Fri, 05 Feb 2010 13:56:00. Filed Under: Economy , Credit Permalink | Tweet this! | Comments

Excerpt from: 
U.S. Consumer Credit Falls for 11th Straight Month

Last year, a new law went into effect that’s intended to improve the lives of everyone who uses credit cards. The Credit Card Accountability Responsibility and Disclosure Act of 2009 (the Credit CARD Act) limits the rate that credit card companies can charge you in fees and penalties, and restricts the ways in which they can raise interest rates. But the Act is having unintended — if unsurprising — consequences: According to The Wall Street Journal , it is driving those companies to find new fees to charge you to offset the $50 billion in revenues they’ll lose due to the consumer-friendly restrictions. Continue reading $50 Billion in New Credit Card Fees? Lenders React to CARD Act $50 Billion in New Credit Card Fees? Lenders React to CARD Act originally appeared on DailyFinance on Sun, 03 Jan 2010 12:23:00. Filed Under: Economy Permalink | Tweet this! | Comments

Continued here: 
$50 Billion in New Credit Card Fees? Lenders React to CARD Act

As job losses continued to mount, more and more consumers fell behind on their payments in November, Moody’s Investor’s Services reported Tuesday. Moody’s Credit Card Index showed the charge-off rate on U.S. credit cards rose to 10.56%, up from October’s charge rate of 10.04%. This reverses the recent downward trend in the charge-off rate, which had fallen in September and October. Continue reading Lenders Write Off More Credit Card Debt Lenders Write Off More Credit Card Debt originally appeared on DailyFinance on Wed, 30 Dec 2009 09:43:00. Filed Under: Economy Permalink | Tweet this! | Comments

See the original post: 
Lenders Write Off More Credit Card Debt

Filed under: Economy If the credit crisis is over — and it most certainly is as measured by tighter credit spreads — why aren’t banks making loans to the people who need them most, American taxpayers? You don’t have to be the chairman of the Federal Reserve to know that banks are behaving worse than Scrooge when it comes to extending credit to small businesses and consumers. Ben Bernanke admitted as much in a recent speech , which is perplexing since a zero-interest-rate policy (ZIRP) is supposed to stimulate economic growth, most of which is generated by those very same small businesses and consumers. Continue reading Need a loan? Why the banks (and Fed) are saying ‘Scrooge you’ Need a loan? Why the banks (and Fed) are saying ‘Scrooge you’ originally appeared on DailyFinance on Fri, 27 Nov 2009 10:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

Originally posted here:
Need a loan? Why the banks (and Fed) are saying ‘Scrooge you’

Filed under: Economy , People , Investing Nouriel Roubini cannot help himself. He is a born pessimist if there ever was one. He forecast the credit crisis two year ago. He predicted that over a thousand banks would fail. His recent comments about the economy have been more sanguine, but he still warns of a double-dip recession. His latest obsession is with stock and commodities prices. He says that the run up in the two markets cannot be sustained. That is not exactly a minority position, but Roubini’s statements seem to get more press than those of most other economists. Continue reading More doom from Nouriel Roubini More doom from Nouriel Roubini originally appeared on DailyFinance on Mon, 05 Oct 2009 08:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

Read the original here:
More doom from Nouriel Roubini

(TrendHunter.com) The St Louis-based Vantage Credit Union has come out with the first Twitter banking solution.  The product, named “MyVantage,” allows users to do everything from get account balances to clear checks. This…

Read more from the original source:
Twitter Banking – The Quickest Way to Bank Online or on Your Mobile (VIDEO)

Filed under: Retirement , Investing A globally diversified portfolio of low cost index funds, conservatively invested 60 percent in stocks and 40 percent in bonds, is up 20 percent year-to-date. How’s your portfolio doing? Probably not very well if you listened to “market beating” brokers or to much of the financial media. During this period, the financial news has been dismal: The bankruptcy of Chrysler and General Motors; Madoff’s sentencing; sabre rattling by North Korea; downgrading the credit of (gasp!) Berkshire Hathaway; the sad spectacle of California issuing IOU’s to stave off bankruptcy. And don’t forget the swine flu pandemic. Continue reading If this is a sucker’s rally, I’ll take it If this is a sucker’s rally, I’ll take it originally appeared on DailyFinance on Sat, 19 Sep 2009 15:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

Here is the original: 
If this is a sucker’s rally, I’ll take it