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Fading housing hope
PASSED BY Congress in July and put into effect on Oct. 1, the federal government’s Hope for Homeowners program was billed as strong medicine for the twin ills of rampant foreclosures and sagging home prices.… -
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Social Security benefits need protection from payday lenders
Over the years, I’ve met too many people who were stuck in a hellish payday-loan cycle, rolling one loan into another until the fees and the outstanding balance crushed them. So I completely agree with… -
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New rules slash card fees
Don’t look now but a funny thing is happening to the plastic in your wallet: It’s getting safer and easier to understand and use — at least if you’re the right type of customer. The… -
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Credit card companies cash in on campus
When will we stop pushing plastic on our young adults? For years, institutions of higher learning and affiliated groups have struck deals with credit card issuers to market their cards to students, many of… -
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Simple rules for managing student loans
Tick tock. Tick tock. That’s the sound recent college graduates are hearing as they near the day of reckoning. The typical six-month grace period on student loans is about to end. Then wham! They face… -
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Credit scores get less secretive
You may be a pillar of your community, admired by your colleagues and beloved by friends and family, but if you have a mediocre credit score, you probably won’t be able to get a decent… -
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Capital One dredges up decade-old, charged-off debt
Frank Cavestani and his wife fell behind on their Capital One credit card payments about a decade ago. Their accounts were subsequently closed by the lender, which wrote off about $2,000 in debt they couldn’t… -
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U.S. should step back from mortgage business
A group of Wall Street professionals meeting here Monday posed a central question facing the Obama administration: How do taxpayers get off the hook for supporting new home loans without doing damage to the struggling… -
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Credit card reform is working
It’s been nearly a year since the major provisions of the credit card reform law took effect. A lot has changed since then, most of it for the better. Under the CARD Act, penalty fees… -
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Geithner wants housing finance overhaul bill
Treasury Secretary Timothy Geithner is telling Congress that the Obama administration wants Congress to approve legislation overhauling Fannie Mae and Freddie Mac, the nation’s troubled housing finance giants, within two years. In remarks he planned… -
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IRS announces new programs to help taxpayers avoid liens
In fiscal 2010, the Internal Revenue Service filed liens against 1.1 million taxpayers. That can have a lasting impact, even if the lien is eventually removed. Lien filings are picked up by the three credit-rating… -
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Consumer bureau foes should look at banks
Elizabeth Warren, the Obama administration adviser assigned to set up the Consumer Financial Protection Bureau, said lawmakers looking to limit the agency’s authority should focus instead on the Wall Street “behemoths” aiming to undermine its… -
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Regulators to set rules on mortgage risk
Banks will be forced to retain some risk when they securitize all but the most conservative mortgages under rules that regulators are expected to vote on Tuesday. But the banks are likely to be given… -
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Strategies for teaching kids about saving and investing
Q: What are ways to teach young kids to start learning about stocks and investing? A: Getting kids interested in saving and investing at an early age is a key to their financial success. It’s… -
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What to do if you can’t pay your taxes
If your palms are sweaty, you’ve got heart palpitations and you can’t concentrate, it means one of two things: You’re in love, or you owe money to the IRS. Those who fall into the latter… -
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Flaw in new rules for mortgages
If you want to get the government out of financing normal home mortgages, you have to find a way to bring in private capital — and on terms that do not make government-guaranteed mortgages a… -
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Regulators, mortgage servicers agree on reforms
Three federal agencies announced agreements with the nation’s largest mortgage servicers Wednesday that aim to stem shoddy foreclosure practices. But the plans do not immediately impose financial penalties on the companies or force them to… -
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Credit counselors answer questions
Most of us know that it’s a bad idea to run up massive credit card bills, but other aspects of credit and debt are murky. How many credit cards should you have? What goes into… -
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Now’s ideal time to tweak your W-4
Now that April 18 has passed, it’s time to tackle one more tax-related chore: reviewing your W-4. Your W-4 determines how much money your employer withholds from your paycheck to pay taxes, based on… -
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Foes revise plan to curb new consumer agency
After losing a contentious battle last year over creating an agency to protect consumers against deceptive financial products, Republicans are fighting the battle again, determined to rein in the independence and financing of the agency.… -
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Consumer Action opposes bills to cripple consumer bureau
The House Financial Services Committee is expected to vote Thursday on bills that would damage the new federal Consumer Financial Protection Bureau (CFPB) before it even opens its doors. The Bureau is scheduled to… -
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Republicans’ fight against consumer protection
We the people — the people who don’t have the money to hire lobbyists — need a strong Consumer Financial Protection Bureau. But if we the people don’t take action, the watchdog agency, which hasn’t… -
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Credit unions increasingly offer payday loans
To millions of member-customers, credit unions are the financial equivalent of a trusted uncle, dispensing prudent loans for cars, homes, and education without the profit motive of traditional banks. But encouraged by federal regulators, an… -
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Dreaming of a bigger home
When Wyonnie and Kwame Flaherty bought their two-bedroom apartment in Queens, N.Y., in 2008, they thought it was the perfect stepping-stone. Putting down 20% of the $177,000 purchase price, the couple figured that rising home… -
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Most students spared big cuts in debt bill
It could have been worse. Just a few days ago, it looked as if any bill to raise the debt ceiling would get rid of subsidized federal student loans. This is the feature that allows…
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