Personal Financial News
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Countrywide Settles Predatory Lending Charges for $8.68 Billion Landmark settlement reached with Attorneys General in eleven states.
Auto Loan Delinquencies Rise Nearly $25 billion in car loans are past due.
'Hope for Homeowners' Program Offers Faster Relief than Wall Street Bailout Rescue plan gives Uncle Sam an equity stake in troubled mortgages.
Scams Sprout from Financial Crisis Consumers vulnerable to scams growing out of Wall Street meltdown.
Wells Fargo To Buy Wachovia Instead of Citigroup Deal scuttled when bank offered to buy without government help.
The Bailout's Back; Senate Revives Measure Congress torn between angry voters and financiers' pleas.
Mortgagees Who Live In Home Less Likely To Default Highest losses from housing slump come from speculators.
Some Consumers React Angrily to Bailout Plan Lobbyists threw taxpayers "to the wolves," complains one consumer activist.
Wachovia Looks for Buyers of Troubled Assets Like WaMu, Wachovia's exposure to subprime mortgages weakens its position.
Seniors Hit Hard by Financial Crisis Collapsing home prices, tight credit, dwindling investment income a lethal brew.
FDIC Seizes West Virginia Bank, More Likely to Follow More than 100 banks on agency's troubled list.
Lehman Files Largest Bankruptcy in U.S. History Feds refuse to bail bank out; Long-term effects unknown.
Why Individual Investors Shouldn't Buy Individual Stocks Hedge fund managers are controlling the market.
Pay Raises To Remain Stagnant Despite Rising Costs Savvy employees can get salary bumps even in tough times.
Is It Time to Fire Your Financial Advisor? It's true: tough times call for tough decisions.
Are You Being Squeezed Dry by your Childs Credit Card Debt? Never too early to teach kids to live within their means.
30,000 Consumers Weigh in on Abusive Credit Card Practices Feds 'get the message,' consumer advocates say.
Colleges, Not Students, Often Benefit From Financial Aid Financial planner offers tips and commisseration.
Women Fear Retirement More than Men — For Good Reason Longer-lived and underpaid, women are more likely to outlive their assets.
Researchers Find Security Flaws In Online Banking Sites Customers vulnerable to identity theft, loss of their funds.
New Bankruptcy Law Hurts Consumers and Lenders, Report Finds Foreclosures, credit card debt increase in wake of changes to law.
Is It Time to Take In Boarders? Renting your house or taking in boarders beats foreclosure.
Troubles Persist for IndyMac Customers Other banks not eager to accept IndyMac checks; FBI reportedly opens investigation.
Brown Adds 'Shocking New Details' to Countrywide Allegations California suit says Countrywide ignored its own underwriting guidelines.
Class Action Challenges Credit Solutions Texas-based company claims to help consumers work out their debt problems.
IndyMac Federal Stops Foreclosures FDIC chief wants to keep homeowners in their homes.
Baby Boomers Face Longer Lives with Fewer Assets Many may outlive their money.
Feds To 'Backstop' Fannie Mae and Freddie Mac Government to expand credit line to the big lenders.
Feds Blame IndyMac Failure on Sen. Schumer Schumer's comments blamed for depositors' panic.
Feds Seize Mortgage Lender IndyMac FDIC takes over as IndyMac becomes the second-largest bank failure in history.
Some Blame Obscure Accounting Rule for Financial Crisis Fate of Freddie Mac, Fannie Mae in doubt today.
Obama Calls for Bankruptcy Law Reform Says process should be improved for military, disaster victims.
Fighting Foreclosure: One Family's Story How fighting back enabled a family to keep its home.
How to Squeeze $500 Out of Your Monthly Budget Minimizing fixed monthly costs is the key.
Bankruptcy Recovery Time Longer than Many Expect It can take 10 to 20 years or more to fully recover, researchers find.
Payday Loan Lead Generators Settle FTC Charges Ads didn't display annual percentage rate, as the law requires.
California Sues Countrywide For Mortgage Deception Nation's largest mortgage lender used 'deceptive scheme,' state charges.
Avoiding Foreclosure Takes More Than Hope Lender-supported workout groups don't always present all the options.
J. K. Harris Settles Deceptive Ad Charges Company took consumers' money, did nothing, states charged.
May Foreclosure Filing Rate Highest Ever Rate of increase slows slightly.
Patients 'Overdose' on Medical Debt Hospitals, doctors encourage patients to pay with plastic.
FTC Sues CompuCredit Lender charged with violating both credit and debt collection laws.
Report: Data Breach Disclosure Laws Don't Affect Identity Theft Results of recent legislation called 'statistically insignificant.'
Fed Clears Bank Of America-Countrywide Merger BofA says it will tighten lending guidelines.
TransUnion to Provide Credit Scores to Millions Huge class action settlement could affect 160 million consumers.
Did Wall Street Wreck The Economy? Congress, regulators start to connect the dots.
Florida Governor Signs Foreclosure Rescue Law New law tries to rein in fraudulent 'rescue' operators.
Realtors Settle Anti-Trust Charges Settlement opens listing database, may lower commissions.
Bankrupt Helicopter School Shoots Down Student Aspirations Question: Are those student loans still due?
Realtors Complain Lending Limits Hurting Recovery More than 4.5 million unsold homes clog the market.
California Busts 'Land Grant' Foreclosure Scam Desperate homeowners were persuaded to transfer their deeds.
Federal Home Price Index Drops at Record Pace Biggest quarterly drop since record-keeping began.
Mortgage Fraud Up 176%, FBI Reports Economic woes provide fertile field for scam artists.
Maryland Shuts Down Investment Scam Con artist scammed his own grandmother, prosecutor charges.
Fed Chief Seeks Greater Effort To Stem Foreclosures Eroding housing market affects overall economy, he warns.
Consumer Bankruptcies Up 47% from Last Year 1 million new cases expected this year.
Feds Back Tighter Credit, Debit Card Rules Phantom fees, retroactive interest increases would be banned.
Lifelock Sales Surge Despite Critics 'Concierge' system charges top dollar for service consumers could get for free.
First-Quarter Foreclosures Up 112% Home prices plunge 12.7%, with no bottom in sight.
Court Rules Credit Card Arbitration Lawsuit Can Go Forward Suit charging collusion between banks and creditors against customers.
Wachovia Penalized $144 Million for Telemarketing Abuses Telemarketers preyed on thousands of senior citizens.
Bank of America Tightens Lending Rules New rules coincide with acquisition of Countrywide Financial.
Federal Mortgage Aid Needed Now, Consumer Group Warns Housing crisis dwarfs industry's attempt to respond.
North Carolina Stops Advance Fee Credit Card Scheme Premier Nationwide Corp. hit with restraining order.
Debt Collectors Go After Expired Verizon Bills Consumers told refusing to pay will hurt their credit rating.
March Foreclosures Up 57% More families walking away from their homes.
Mystery Shoppers Find Deceit, Incompetence Among Tax Preparers IRS urged to bar sale of refund anticipation loans.
Homeowners Raiding Retirement Accounts to Avoid Foreclosure Fees and penalties for early withdrawals can be severe.
Texas, Illinois Prosecute Mortgage 'Rescue' Firms Desperate homeowners lost their homes despite firms' promises.
Class Actions Challenge LifeLock Identity protection guarantee 'meaningless,' suits argue.
Florida Gets $1.3 Million Judgment against Debt Collector Ellis Crosby accused of deceptive practices.
Loan Payment Delinquencies Rise Credit problems spread to auto loans, cedit cards.
Consumer Debt, Not Housing Bubble, May Be Root Of Economic Woes Too much revolving debt makes recovery more difficult.
Electronic Payment Industry Touts Its Green Benefits Bill-paying doesn't have to be environmentally expensive.
Some Old Debts Never Die Luebke Baker pursues old magazine subscription debts.
Massive Securities Fraud Ring Exposed In New Jersey Investors lost at least $50 million, prosecutors charge.
'House Stealing' Scam Combines Identity Theft, Mortgage Fraud Thieves steal and sell your house, leaving you stuck with the mortgage.
California Shuts Down Mortgage Scam Artists 'Utterly brazen' tactics used to fleece homeowners, state charges.
Tiny Town Stands Up To Payday Lenders Town steps in when state legislature feared to tread.
Floating Due Date Snags Chase, Citibank Customers Banks offer no explanation for the surprise switcheroo.
Unauthorized Charge? How To Fight It Dialing for dollars doesn't work; disputing the charge often does.
Massachusetts Sues Mortgage Broker Broker allegedly inflated information supplied to lenders.
Bankruptcy Filings Soared in February February filings the highest since new bankruptcy law enacted.
Bank Fees Rise, Disclosure Sinks Even trained investigators have trouble getting accurate fee info.
FTC Takes On Mortgage 'Rescue' Operations Agency sues two businesses for fraud, charges others with false claims.
Big Banks, Telcos Top Identity Theft List Bank of America, Sprint, AT&T biggest source of complaints.
Mortgage Applications Drop 20% in a Week Looming rate increases cause concern.
FDIC Staffs Up to Handle Bank Failures Agency trying to rehire retired staff.
Prices Surging, Consumer Confidence Plunging Food, energy prices rising rapidly as economy softens.
Lexis-Nexis Parent To Buy ChoicePoint $4.1 billion deal would create massive new information brokerage.
Tax Rebate Goes Only to Those Who File Even taxpayers who don't normally file a return must do so.
Kevin Trudeau Now Offering 'Debt Cures' Consumers find it hard to avoid buying more than just the book.
House-Swapping Trend Emerges 'I'll buy yours if you'll buy mine.'
Regulators Warn of Securities Scams Stock market slide creates opportunity for con artists.
Existing Home Sales, Prices Keep Falling Re-Fi's up, but potential buyers staying out of the market.
Seniors Should be Wary of Reverse Mortgage Scams Scams involving reverse mortgages becoming common.
'Instant Refund' Loans an Avoidable Expense No reason to give money away, consumer groups advise.
States Fight Foreclosure Rescue Scams 'Rescue' schemes often make matters worse for troubled homeowners.
Tax Breaks for Family Caregivers Elderly parents may qualify as dependents.
Credit Card Defaults On The Rise Credit crisis may be spreading.
Bank of America Buys Countrywide Financial Deal may help slow the mortgage-default crisis.
Recession In 2008? What Does That Mean For Consumers? Slowing economic growth hurts those with high debt, scant savings.
FreeCreditReport.com Can Get Expensive Opt-out credit reports can run up big bills quickly.
Countrywide Reports Ballooning Delinquencies Existing home sales drop as housing implosion worsens.
First National Card: Too Good to be True? Skipping the fine print can get expensive.
Consumers Fall Behind In Third-Quarter Loan Payments Higher gas prices, slumping home values blamed.
Credit Card Debt Climbs Worldwide Americans falling behind on payments; other nations' debt surging.
As Credit Delinquency Rises, So Does Credit Relief Scrutiny States struggling to control credit counselors.
California Shuts Down Annuity Sales Scam Salesmen posed as lawyers, preyed on vulnerable seniors.
Foreclosures Up 68 Percent In November Another surge in defaults expected early next year.
Nevada Leads In Foreclosures and Rescue Scams Beware of strangers offering help with mortgage lenders.
Children Becoming Prime Identity Theft Targets Victims are often under six years old.
Fed Endorses Lending Protections New rules include better disclosures, income verification.
Senate Passes Home Loan Reform Bill Legislation would help borrowers refinance into government loans.
Student Loan Company Agrees to End Kickbacks to Schools New code of conduct bars false, misleading marketing.
Connecticut Derails Title Insurance Kickback Scheme Companies agree to pay $700,000, customers to be reimbursed.
Top Ten Scams of 2007 Old reliables and nervy newcomers fleece rich and poor alike.
Report: Some Home Prices Could Fall 30 Percent Prices likely to sink through at least 2009, Moody's warns.
Bush, Paulson Unveil Mortgage Rescue Plan Qualified borrowers could get five-year rate freeze.
Feds Propose New Rules for Credit Bureaus Rules proposed for disputing bad information directly with lenders.
Social Security Errors Common Consumers should carefully review their annual statements.
FTC Finds 8 Million Identity Theft Cases Costs, types of fraud vary widely.
Chase to Stop Raising Interest Rates Based On Credit Reports Clear and simple' program debuts next year.
Subprime Foreclosures Causing Ripple Effects Report finds major impacts on property values, tax revenues.
College Students Warned Against Credit Card Trap Cards promoted heavily to students but hazards outweigh benefits.
Longevity Insurance: OK If You Live Long Enough New type of annuity kicks in at a predetermined age.
Consumer, Poverty Groups Oppose Predatory Mortgage Bill Measure leaves homeowners worse off, they charge.
Feds Scam Vets, Lawsuit Charges AAFES illegally calculating military credit card payments.
Canadians Crushed By Credit Card Debt Loonie soars but so does unsecured debt.
High-Fee, Low-Credit Charge Cards Prey Upon the Poor Feds override state consumer protection laws.
House Committee Passes Mortgage Reform Bill Bill aims to save homeowners from foreclosure.
Debt Collector Pays $1.3 Million to Settle FTC Charges LTD Financial Services abused, misled consumers.
Maryland Shutters 'Investment Firm' Amid Fraud Charges Victims lost more than $50 million in Ponzi scheme.
New York Sues WaMu and its Appraisers Companies conspired to inflate appraisals, suit charges.
Consumer Energy Costs Skyrocketing Poll shows strong support for Congressional action.
TJX Data Breach Victims Reach 94 Million Numbers just keep climbing as court filings reveal extent of the theft.
Money Market Funds: No-Brainer, or No Brains? Be careful! Not all funds are insured.
Bill in Congress Takes Aim at Lenders Barney Frank's bill would allow embattled homeowners to sue their mortgage lenders.
Countrywide Tries to Stem Foreclosures Lender throws lifeline to homeowners facing rate boosts.
New Hampshire Charges Ameriprise with Fraud Company faces penalties, restitution of $10 million.
Feds Gloomy as Mortgage Meltdown Continues Big banks organize effort to contain the damage.
September Foreclosures Double Year-Ago Levels Defaults driven by higher payments on adjustable-rate loans.
Macy's Customers Get New Citicards--Like It Or Not Citibank flipped store cards into true credit cards.
Experian To Offer Credit Freezes To Consumers It trails Trans Union; Cost is $10 to lock and unlock.
Financing Alternatives Runs Out of Options Court freezes computer layaway scheme's assets.
Mortgage Rates Ease Slightly, Market Turmoil Continues New and existing home sales remain at near-record lows.
What You Should Know Before Refinancing Sometimes a lower mortgage payment carries a big price tag.
Searching For Foreclosure Bargains Can Be Costly Web sites automatically renewed 'free' subscriptions, Maryland charges.
FDIC Closes NetBank, ING Assumes Deposits Competition, mortgage slowdown, delinquent loans blamed.
Mandatory Arbitration Stacks Deck Against Consumers Study finds justice systematically denied to credit cardholders.
Home Prices Plunge In First Seven Months Of 2007 Fall-off in prices is the greatest since 1991.
Economists Warn Debt Crisis Could Hammer Consumers Shockwaves could spread from Wall Street to Main Street.
Foreclosure Not Inevitable but Fast Action Needed Consumers in trouble should contact lenders before missing any payments.
Scammer Claims To Be 'Verified By Visa' Phishing emails try to trick consumers into revealing passwords.
Credit Card Theft Takes Many Forms Merchants often the big losers; consumer vigilance essential.
Two Credit Bureaus Offer Consumers Credit Freeze in 50 States Trans Union, Equifax reverse policy; Experian undecided.
Congress May Help Homeowners In Trouble Bills would raise limits on federal loans for homebuyers.
Fed Cuts Interest Rate, Oil Prices Soar In theory, half-point cut should be good news for consumers.
August Foreclosures Up 115% Over Last Year Nevada, California, Florida the Foreclosure Big 3
Bank of America Takes Bigger Bite with $3 ATM Fee How can you avoid lining the pockets of big banks?
Illinois Uses New Law to Sue Mortgage Rescue Company First case under the state's new Mortgage Rescue Fraud Act.
Hackers Steal Information On 6.3 Million Ameritrade Customers 'Unauthorized code' enabled thieves to breach database.
FTC Warns Many Mortgage Ads Are Deceptive Claims about 'incredibly low rates and payments' are often false.
Pending Home Sales Index Tumbles As mortgage market tightens, index of pending sales 16% below a year ago.
Foreclosures Continue at Record Levels One of every seven subprime borrowers is delinquent, report finds.
Connecticut Sues Brokers, Realtors in Alleged Subprime Scam 'Vast predatory lending scheme' targeted low-income homebuyers.
Feds Urge Lenders To Help Stave Off Foreclosures Interagency statement recommends "mitigation strategies" to avoid default.
Latest Spam Scam Targets Bank Of America Customers Bogus email warns of "invalid login attempts."
Bush, Bernanke Pledge To Stabilize Mortgage Meltdown But no bail-outs for speculators; higher FHA limits possible.
Home Prices Drop Sharply; Unsold Homes Increase Prices hit 20-year low; inventory grows to nine months.
Nationwide Cancels 39,000 More Homeowner Policies Insurers dumping policies in hurricane zones.
Credit Crunch 'Bigger Threat Than Terrorism' Survey of economists finds rising fear of credit market collapse.
Credit Card Defaults On The Rise
Defaults up 30 percent over last year at this time.
New Jersey Man Cited For Exploiting Foreclosure Victims Scam allegedly targeted consumers who had just lost their homes.
Capital One Shuts Down Mortgage Unit, Will Cut 1,900 Jobs Mortgage meltdown claims another victim.
PayPal Buyers, Sellers Still Steaming Frozen funds still bedevil users of unregulated payment service.
Unregulated Lenders Blamed for Mortgage Meltdown Mortgage market too vital to be unregulated, Rep. Frank argues.
Capital One Hikes Interest Rates, Agrees to Disclose Credit Limits Longtime customers told their rates are going up for "business reasons."
Nelnet Agrees to End Payoffs to Alumni Associations Student loan consolidator reaches $2 million settlement with New York.
Home Sales Slump Points To Bigger Market Troubles Dow Jones average falls 400 points as markets get jittery about widening problems.
Consumers Dispute FTC Report on Insurance Credit Scoring Use of credit scores to fix insurance premiums discriminates against minorities, consumer groups argue.
Two Bear Stearns Hedge Funds Go Broke Funds were heavily invested in subprime mortgages.
UBS Pays $23 Million to Settle NY Charges It Misled Clients State charged UBS inappropriately steered customers into the fee-based accounts of its InsightOne brokerage program.
North Carolina Shutters We Buy Homes Scheme Supposed foreclosure "solution" actually made things worse, state charges.
Ameriquest to Pay $325 Million to Homeowners Company settles predatory charges filed by states.
Consumers Bilked of $17.5 Billion in Overdraft Loans Fees often amount to more than the actual loans, report finds.
Data Theft Leads To Breach of 2.3 Million Records Fidelity National employee allegedly stole and resold data on 2.3 million customers.
NY Court Rules in Favor of Disabled Policyholders Court rules insurers can't preclude existing conditions in long-term disability claims.
Wedding Bill Blues Newlyweds wind up wedded to debt after extravagant ceremonies.
Wal-Mart Plans Its Own Debit Card Blocked from opening its own bank, retail giant turns to prepaid cash cards.
Bankruptcy's Early Warning Signs Bankruptcies on the rise once again.
Johns Hopkins Settles Student Loan Probe University will pay $1 million and adopt new code of conduct for student loans.
Pentagon's Predatory Lending Rules Faulted Rules leave military families unprotected, consumer groups argue.
Consumer Groups Decry Debt Collection Horror Stories Thirty years after passage of Fair Debt Collection Practices Act, abuses remain.
For Rent: Your Credit Score Loophole in FICO enrages lenders, competitors lick their chops.
Home Prices Fall Again, Sabotaging Recovery Hopes Prices may not return to previous levels til 2011, analyst warns.
Wells Fargo Agrees to Clean Up Student Loan Practices Nation's five largest lenders have now accepted New York AG's terms.
Home Sales on a Roller Coaster Sales of new homes rise but existing home sales slump.
Debt Collectors Cash In On Uninformed Consumers Aggressive collectors breathe new life into "old debt."
Credit Tips And Tricks Tips to help you avoid getting lost in the credit maze.
Senate Bill Would Curb Abusive Credit Card Practices Measure takes aim at sky-high interest rates, tricky fees, hidden charges.
Black Car Buyers Pay Higher Interest Rates Study finds situation has worsened in recent years.
BlueHippo Funding Settles $1 Million Case Company agrees to refund consumers' money, pay a penalty, clean up its act.
Massachusetts Warns Against Rising Mortgage Fraud Attorney general urges legislature to tighten regulations, require licensing of all loan originators.
Predatory Lending Bill Back in Congress Ohio's Stephanie Tubbs Jones reintroduces the previously-axed Predatory Lending Practice Reduction Act.
Minnesota Sues Another Annuity Insurer American Equity Investment Life Insurance Company accused of permitting agents to sell inappropriate annuities to seniors.
Subprime Auto Loans Hit $50 Billion in 2006 Wall Street worried car loans will wind up like subprime home mortgages.
Groups Seek To Roll Back Foreclosures ACORN wants moratorium on foreclosures and tougher laws against predatory lending.
Multi-State Agreements Reached in Student Loan Investigation Missouri, Illinois schools agree to clean up lending practices.
Gonzales Issues New Identity Theft Plan "Prosecutor purge" overshadows federal plan that would weaken existing state laws.
Buying a Home in Foreclosure: What You Need to Know With foreclosures climbing, there is opportunity as well as tragedy.
Seniors Bear Brunt Of Predatory Lending Seniors losing their homes to predatory refinance scams.
H&R Block Sells Subprime Mortgage Unit Option One sold to hedge fund giant Cerberus.
New York Sues Drexel Over Student Loans California demands answers from Education Finance Partners, Student Loan Xpress
U.S. Foreclosure Rate Surges 47 Percent Banks started 149,000 foreclosures in March, the highest number on record.
Bankruptcy Laws Contributing to Foreclosure Epidemic Consumer groups press Congress to amend bankruptcy code to protect families' primary residence.
Pennsylvania Class Action Challenges Payday Lender Suit seeks millions in restitution from Utah company operating in Pennsylvania.
Sallie Mae Settles Student Lending Probe Agrees to pay $2 million and adopt a new code of conduct to settle New York investigation.
Financial Aid Probe Focuses On Johns Hopkins Official New York attorney general probing allegations of kickbacks to college officials by lending companies.
Civil Rights Groups Want Foreclosure Moratorium "Payment shock" decimating black, Latino neighborhoods, groups assert.
Congress: Wall Street to Blame For Predatory Lending Bipartisan duo considers legislation to make mortgage bond holders share the pain.
Subprime Loans Led To Decreased Homeownership Study finds no net increase in home ownership despite lending bonanza.
Former Morgan Stanley Employee Arrested On Data Theft Charges Service rep pilfered hedge fund client identities, feds allege.
Feds Sue Jackson Hewitt, Claiming "Pervasive" Tax Fraud Preparers claimed bogus deductions, took kickbacks from clients, government charges.
Colleges Agree to Clean Up Student Lending Practices Under pressure from New York Attorney General Cuomo, schools pledge reimbursements, Citibank funds education effort.
New Century Lending Files for Bankruptcy Large subprime lender's collapse may be the tip of the iceberg.
Downsize to Survive In a financial bind? Take a cue from big business: Cut your costs now, before it's too late.
Fed Chair Rethinks Easy Access To Credit Maybe more lending isn't always a good idea?
TJX Data Breach Called "Biggest Ever" Company says 46 million customers' data exposed to identity thieves.
FTC Stops 'Reduce Debt Now' Scheme Venture led consumers even more deeply into debt.
New York Sues Student Loan Lender Education Finance Partners used kickbacks to entice major universities to steer students its way, state charges.
People's Choice Files Chapter 11 Another subprime lender collapses.
Advance Fee Scammers Move Into Real Estate Tried and true scam adapted to the for-sale-by-owner market.
FHA Loan Makes Comeback as Sub-Primes Sink Congress may make adjustments to federally-insured loan program to bring it up to date.
NY's Cuomo Blasts "Unholy Alliance" of Colleges, Lenders Nationwide probe shows conflicts of interest in student financial aid programs.
Wal-Mart Gives Up Bank Plans Pressure from Congress, consumers was creating a distraction, giant retailer says.
Ohio Moves to Shut Down New Century Financial Attorney general vows to hold the company "accountable for ... its misdeeds."
Congressman Challenges Wal-Mart Banking Plans Says retail giant is moving ahead despite freeze by FDIC and objections of consumer groups.
Senate Panel Slams Abusive Credit Card Practices Senators berate banks for high interest rates, penalties for late payments, and billing for charges already paid.
Minnesota Sues "Trust Mills" State charges firms preyed on senior citizens with living trusts and inappropriate annuities.
Home Price Growth Last Year was Slowest Since 1999 Sales off 11 percent in last quarter of 2006 from a year earlier.
Scams and Foreclosure On the Rise "Surplus funds scam" targets homeowners in trouble.
Viatical Company Pleads Guilty to Racketeering, Fraud Florida company allegedly misled investors in scheme involving life insurance policies on the terminally ill.
529 Plans: A Tax-Free Way to Save for College State-sponsored plans can offer big tax breaks for parents and grandparents.
Subprime Lending Out Of Favor At Freddie Mac As "creative" mortgage money dries up, housing prices under more pressure.
IRS Warns of Common Income Tax Scams Inflated telephone excise tax refund claims lead the list this year.
Mortgage Crisis? Act Now to Avoid Foreclosure Steps you can take to avoid losing your home and ruining your credit.
Veterans Administration Loses Data on 1.8 Million Hard drive disappears from Alabama hospital.
Bank of America Offering Credit Cards to Undocumented Immigrants Pilot program expands to 51 banks in Los Angeles County. May go nationwide later this year.
FTC Findings Undercut Industry Claims that Identity Theft Is Declining More than one-third of all complaints to FTC last year concerned identity theft.
Scams Target Students Seeking Financial Aid Parents and college-bound students need to do their homework.
Investors Shouldn't Overlook Index Funds Fees are lower and returns are generally higher, and that's just for starters.
Feds Stop Credit Card Rate Reduction Scam Canadian scam claimed it could save consumers thousands in credit card interest, FTC charges.
AARP Launches Annuity Program for its Members Program offers guaranteed income for life to AARP's 37 million members.
TJX Sued for Loss of Consumer Data Banks report wave of fraudulent transactions following data breach.
Congress Targets Credit Card Companies For Reform Senate Banking Committee takes aim at usurious interest rates, high fees, shady practices.
Illinois Sues Nationwide Debt Collector, Arrow Financial State charges firm used unfair tactics and deceptive practices.
Tested by Fire: American Express Travelers Cheques Kansas family waits months for partial refund after their house burns down.
Hackers Hit T.J.Maxx, Marshalls Customer data stolen in major security breach.
Poor Americans Missing Billions in Earned-Income Tax Benefits Low-income working families often fail to file for earned-income benefits.
House Approves Cutting Student Loan Interest Rates But measure unlikely to pass the Senate and is opposed by the White House.
Feds Warn Consumers About Counterfeit Check Scams Consumers can lose big if check turns out to be bogus.
Despite Reforms, Tax Refund Loans Gouge Taxpayers Interest rates exceed 1,000% on loans that victimize low-income taxpayers.
Retailers Fret Over "Swipeless" Credit Cards They fear fees on "micro" sales will wipe out profits.
Taxpayer Advocate Targets IRS Collection Policies Alternative minimum tax, federal tax gap also identified as top-priority issues in annual report.
FTC Charges Express Consolidation Misleads Consumers Company misleads consumers about costs of its program, uses illegal telemarketing, feds charge.
BlueHippo Funding: An Extreme Layaway Plan Poor Americans pay top dollar for cheap merchandise, which many never even receive.
PIRG Endorses Cutting Student Loan Rates in Half Proposed reduction would save middle-class students more than $4,000, study finds.
Jackson Hewitt Pays $5 Million to Settle California Charges Tax prep firm misled customers into high-cost tax refund loans, state alleged.
Subprime Lender Implosion: Bad Omen For Housing Market Mortgage Lenders Network shutters its offices, the latest "creative" lender to collapse.
Rep. Frank Promises Hearings On Credit Bureaus Frank vows action on problems consumers encounter in trying to correct and update their credit records.
No Easy Way Out Of Credit Card Debt Many consumers awake to a year of even higher balances.
Ameriprise Hit with $9 Million Penalty Three retired airline pilots charged their savings were mishandled.
Wells Fargo, Acordia Sued for Fraud States charge companies led customers to insurers who had paid kickbacks.
Holiday Shoppers Running Up Debt Poll finds 23% of shoppers won't pay off holiday spending binge til March or later.
Lawsuit Alleges Fraud in UBS Brokerage Accounts New York charges UBS defrauded thousands of customers through its "InsightOne" account.
Chase Bank, Triligent, Settle Negative Option Fraud Charges Companies must pay restitution, provide renewal notices to consumers.
Women Most Likely to Receive Subprime Home Loans Single mothers often find themselves trapped in less than optimal subprime loans.
Zurich American Implements Reforms, Pays Consumers Millions Texas and other states accused insurer of bid-rigging, price-fixing.
IRS Scales Back Outsourcing Plans Bowing to critics and its employees, agency decides to keep more functions in-house.
Alternate Credit Scoring Gaining Support Paying bills on time may someday be rated as highly as managing debt well.
Payday Lenders Fleece Consumers for $4.2 Billion A Year Average borrower pays back $793 for a $325 loan.
Michigan Credit Card Mystery Deepens Is it the next "worst hack ever?"
ATM, Bank Card Security Getting Worse Vulnerabilities identified, but fixes aren't so easy. Stealing customers' PIN numbers getting easier, more common.
Penalty Fees, Interest Rate Hikes, and Misleading Contracts Await Credit Card Shoppers Banking industry sets traps for shoppers everywhere.
Payday Lenders Move Online, Try to Bypass State Laws West Virginia files suit to block 14 Internet lenders from doing business in the Mountain State.
Jackson Hewitt Faces NY Class Action New York franchises hit consumers with undisclosed fees, lawsuit charges.
Hedge Fund Managers Sued for Fraud in Mutual Fund Timing Defendants piggy-backed trades to avoid detection, New York charges.
Aging Well Takes More than Time Shrinking government programs put increasing burden on consumers to plan for their later years.
Picking the Right Mutual Funds With more than 7,100 funds, the trick is finding the ones that are best for you.
Bank Of America/MBNA Merger Produces More Problems Credit cards are mysteriously declined, rates and fees shoot skyward, ATMs malfunction, customers report.
Bank, ATM Fees Continue To Rise ATM, NSF fees rise, interest paid on checking accounts remains below 1 percent.
UnumProvident Agrees to "Sweeping Reforms" Unum pays $17.4 million to settle New York charges.
Boomers' Nightmare is Generation Y's Opportunity Time to start saving for retirement is now, regardless of your age.
GAO: IRS Needs More Oversight of Private Debt Collectors Outsourcing tax collection to private companies fraught with risks.
Worried About Outliving Your Assets? Longer lifespans increase risk that seniors will spend down their savings.
Dell Settles Class Action Over Financing Practices Consumers who took "90 days same as cash" deals found themselves socked with interest anyway.
New York Charges Fraud in Life Settlement Industry Brokers take secret commissions, chisel policy owners, state charges.
Scammers Dust Off The Old "Pump & Dump" Stock touters run up price of stock, then dump a large block, leaving investors bereft.
Foreclosures on the Rise American Dream becomes the Nightmare on Elm Street as rising interest, weak real estate market intersect.
Soldiers Pinned Down by Predatory Payday Loans New law limits payday loan annual interest rate to 36 percent for military families.
North Carolina Shuts Down Living Trust Scheme Seniors bilked out of their life savings, state charges.
Chicago: New Financial Capital of the World Or Ground Zero for the next economic meltdown?
Visa Publishes Interchange Fees For Credit Cards Action follows MasterCard's decision to publish its rates.
New Bankruptcy Law, One Year Later Despite obstacles, bankruptcy filings creeping back up.
Credit Card Fees Rise, Disclosure Statements Inadequate Government report finds more "hidden" fees, penaly payments and higher interest rates.
"Convenience Checks" Carry a Heavy Price Tag High interest rates, convoluted payback process put actual cost in the stratosphere.
The Ads Say "It's Time to Talk to Chuck" But what if Chuck no longer works there? Discount broker Schwab pressured by lower-cost competitors.
"Trailing Interest" Snags Bank Of America Customers Novel accounting method can leave customers in debt even if they pay off their entire amount due.
Court Shuts Down Qchex Con artists used company's service to raid consumers' checking accounts, fed charge.
PayPal Settles Customer Service Complaints Promises to make its procedures clearer.
Minnesota Companies Charged with Securities Fraud Firms defrauded Minnesotans out of millions, state charges.
Three Banks Get Top Marks for Identity Theft Prevention Report ranks Bank of America, Washington Mutual, JP Morgan Chase most secure.
Debt Free Agrees to West Virginia Refunds State continues its crackdown on debt management services.
Capital One Blitzes Credit Reports Looking For New Prey What's in your wallet? Capital One already knows.
Connecticut Angered by Simon Mall's End Run Around Gift Card Rules Retailers hide behind federal banking laws to gouge consumers.
MasterCard Offers Concessions In Interchange Fee Battle No. 2 credit card offers to publish full schedule of fees merchants pay.
Illinois Sues Annuity Salesmen for Using Deceptive Mailers Mailings to seniors intended to extract personal financial data, state charges.
Counterfeit Travelers Checks Look Like Real Thing West Virginia woman loses thousands in counterfeit scam.
Study Warns of Homeowner "Rate Shock" Homeowners in the South and Midwest most likely to be hurt by changes in variable rate mortgages.
Back-to-School Spending Strains Family Budgets Most families will spend at least $200 per child on supplies, clothing and electronics.
HSBC Security Flaw Exposes Millions Of Customers' Data More than three million customers' records exposed, researchers find.
Illinois Shuts Down Mortgage "Rescue" Scam Scheme preyed on homeowners at risk of foreclosure. Gov. Blagojevich orders aggressive enforcement.
New IRS Online Payment System Raises Privacy Fears Consumer advocates fear scam artists will take advantage of the system.
California Sues Payday Loan Business Suit against Fash Cash seeks $2 million in damages and reimbursement.
Bank Of America Goes Global Charlotte giant eyes Asia as its next growth market as it surpasses CitiBank in total market value.
Feds Target Realtors' Anti-Competitive Practices Prosecutors allege Realtors restrict home buyers' and sellers' effective use of the Internet.
Realtors Thwart Internet-Based Home Sales Industry blocks changes that could increase competition and consumer choice.
Waddell & Reed Settles Market Timing Case Firm will pay $50 million in restitution to investors to settle New York charges.
Chase Warns of Online Survey Scam Survey is really an identity theft scheme, bank warns.
Senior Investment Fraud Increases as Population Ages Annuities and unregistered securities the most common financial products involved in senior scams.
ChoicePoint Gets a Makeover If the first thing your company name brings to mind is "identity theft," there's a lot of public relations housecleaning to do.
Congress May End Wal-Mart's Banking Dreams House bill would stop big retailers from running their own banks.
Ohio Sues "Credit Counselor" For Deceiving, Threatening Consumers Debt Freedom Foundation took consumers' money but provided no services, state charges.
Liberty Mutual Sued in Bid-Rigging Investigation Illinois is latest state to file charges in bid-rigging scandal involving large insurers.
Aspire Visa to Pay $11 Million to New York Consumers State faults its marketing and billing practices.
Capital One Harms Credit Scores by Withholding Data, Suits Charge Withholding data harms consumers' scores while protecting Capital One from poachers.
Survey: Employees Are Biggest Threat To Data Security Employee error implicated in more than half of cases studied.
Experian Launches New Credit Score Credit bureaus hope to unseat FICO as industry standard. Critics unimpressed.
TransUnion Gets Into Tenant Screening Business It's part of a broader effort to identify and rate "thin-client" consumers.
Debt Management Telemarketers Settle FTC Charges Credit Foundation of America will pay nearly $1 million in penalties and consumer redress.
"Worst Data Bill Ever" Inches Forward in Congress Lobbyists conspire to short-circuit state laws protecting consumers.
The Mistakes Borrowers Make, and How to Avoid Them As interest rates rise, getting the right mortgage loan becomes more difficult.
"The Check Has Cleared" Doesn't Mean The Check Is Good Scam artists using deception to clean out your checking account.
Class Action Targets Wachovia Mutual fund "sweep fees" challenged by attorneys for paralyzed trust fund beneficiary.
Student Loan Company Loses Borrower Data Texas Guaranteed Student Loan Corporation loses data on 10 percent of its borrowers.
Study Disputes Lenders' Excuses for Charging Blacks and Latinos Higher Rates Lenders also penalize minorities whose credit scores are equal to or better than whites, study finds.
West Virginia Settles With Cambridge Credit Counseling Company will refund $250,000 to consumers who were overcharged.
Survey: Feds Must Do More to Safeguard Consumer Privacy Current law requires destruction of credit-related documents only.
MasterCard IPO Shifts Risk from Banks to Investors Increasing competition, consumer burn-out, merchant lawsuits create a cloudy picture for U.S. card issuers.
Investigators Kept VA Data Theft Secret for Three Weeks In a vain attempt to catch the crooks, government didn't inform veterans their identities had been stolen.
Greenspan: "Housing Boom Is Over" Some areas may experience "severe" price swings, he warns.
Zero To 30 Percent In Just One Month An HSBC credit card customer's lament.
California Police Make Arrests In Alleged Ponzi Scheme Defendants allegedly took in more than $68 million in "insurance pool" scam.
Wells Fargo's Laptop Loss the Latest Missing machine has files on thousands of the bank's mortgage customers.
Homeowners Insurance Rates Unfair, Massachusetts Charges Raising rates in anticipation of hurricanes isn't justified, state argues.
Indiana Fines Mortgage "Rescue" Firm Self-proclaimed rescuers promised much, did little, state charges.
Plastic Peril: Credit Cards Target Students College grads inundated with offers of credit they can ill afford.
FTC: Businesses Need To Better Protect Social Security Numbers Agency tells Congress businesses need to tighten up their security procedures.
Home Depot Buys a Bank Following the lead of Wal-Mart, Home Depot has its heart set on having its very own bank.
The Hartford Apologizes, Pays $20 Million for Fraud in Annuity Sales Company vows to clean up its procedures.
PayPal, Equifax Team Up To Offer Credit Monitoring Yes, but it pays to read the agreement before signing up.
H&R Block Threatened Employees, Spitzer Charges Company allegedly put heat on tax preparers who didn't push flawed IRA.
Credit Counseling Agency Pays $2.4 Million to Settle Federal Charges Lighthouse Credit misrepresented itself, FTC alleged.
Credit Card Companies Fear "Perfect Storm" Intensifying competition, consumer disgust, merchant revolts causing angst in executive suites.
Pennsylvania Asks Court to Shut Down "Living Trust" Sales Scheme Elderly consumers deceived into buying inappropriate investment products, state charges.
Home Depot, Monogram Credit Card Bank To Pay Connecticut $672,000 "No interest, no payment" offers weren't what they seemed.
Overdraft Loan Survey Finds Problems For Consumers Americans paying more than $10 billion in overdraft loans and fees annually.
H&R Block Settles Tax Refund Loan Suit Company will pay $39 million to settle claims it gouged taxpayers for tax refund loans.
Consumers Ditching Their Credit Cards Fed up with higher minimums, escalating interest and usurious fees, consumers paying off their cards as fast as they can.
Bank Of America Considering Its Own Credit Card Brand Megabank may create its own credit card processing network to compete with Visa and MasterCard.
Taxpayers Can Get an Automatic Six-Month Filing Extension Can't finish your return on time? No problem. But you still have to pay on time.
Paying Taxes With Your Credit Card Can Get Expensive Consumers should use credit card as last resort when paying taxes.
Senators Push for Electronic Tax Filing IRS shoves consumers into hands of commercial preparers and scam artists by failing to put taxpayers' interests first.
Opposition Grows as FDIC Examines Wal-Mart Banking Bid Wal-Mart insists it won't open branches in its stores but critics flood FDIC with letters opposing Wal-Mart's application.
Consumers Want Better Online Banking Security Research: Consumers want banks to monitor online accounts for fraud, just as they now monitor credit card accounts.
Investment Firm Sold Millions in Unregistered Securities Missouri charges Global Power Global Wealth Enterprises skimmed $3.8 million from its victims.
Americans Still Have High Hopes for Retirement But study finds that hope may be the only asset many seniors have, as pensions and savings lag expectations.
"Mortgage Stripping" Scams on the Rise Illinois Sues Another Mortgage Foreclosure "Rescuer"
Interest Rates Rise, Consumer Confidence Wobbles Prime rate climbs to 7.75 percent, tightening the vise on consumers holding variable rate mortgages, credit cards or home equity loans.
Class Actions Target Blue Hippo "Funding company" sells over-priced goods at usurious rates, suit charges.
TrustedID: New Data Protection Or Just More of the Same? TrustedID claims to prevent identity theft ... for a price.
FTC Sues "Debt Elimination" Programs Programs charge high fees, accomplish little and violate do-not-call law, feds allege.
Annuities: Fool's Gold or Fiscal Smarts?An annuity can mean a secure retirement, if you make the right choices.
NY Accuses H&R Block of IRA Marketing Fraud IRA was almost guaranteed to lose money, state charges.
Credit Bureaus Introduce New Scoring System New system combines ratings from all three bureaus to produce a letter grade.
The "Worst Hack Ever:" Debit Card Security Crisis Continues Banks cancel cards en masse with no public explanation.
Capital One Buys North Fork Bank Credit card giant will be among the top ten U.S. banks.
Wal-Mart's Banking Plans Draw Critics Several members of Congress ask FDIC to look carefully at Wal-Mart's proposal.
IRS May Let Tax Preparers Sell Customers' Information Change would be a license to plunder, consumer groups argue.
Title Insurance Fraud on the Upswing Several states probing rising tide of fraud and inflated charges.
North Carolina Declares Victory In War On Payday Lending Two firms to close down and leave the state.
Citibank's Cards Mysteriously Shut Down Latest bank card shutdown adds to fears of a massive security breach.
ACORN Names Money Mart "Loan Shark of the Year" Payday lender also lost a bid for dismissal of a Canadian consumer lawsuit.
IRS Warns of Fast-Spreading Tax Scams Supposed IRS inquiry may be identity theft in disguise.
Security Company McAfee Loses Employee Data Auditor leaves unprotected data on airplane.
There's No Escaping Taxes But there are steps you can take to minimize the tax bite ... and the tax preparation sting.
H&R Block Goofs on Its Own Taxes $32 million black eye comes at the height of tax preparation season.
CardSystems Solutions Settles Federal Charges Millions of consumer records stolen in largest data theft to date.
The Earnings Suspense File: Social Security's "Secret Stash" How undocumented workers fatten the Social Security trust fund without benefitting from it themselves.
Florida Arrests Suspects in Securities Fraud Case Duo allegedly defrauded elderly investors out of more than $9.1 million.
Congress Studies Gift Card Abuses Consumers irate over fees, restrictions and lack of fraud protection.
Discover Debit Card Challenges Visa and MasterCard Will let merchants hit consumers with surcharge for using plastic.
California Sues H&R Block Tax giant snares low-income consumers with "instant refunds" that are really loans, state charges.
Debit Cards Canceled After Security Breach Major banks cancel cards without explanation. Data breach suspected.
Real Estate Markets Turn Chilly Lenders, regulators, builders grow nervous as red-hot markets trun frigid.
The Fed Raises Interest Rates Again Consumers confounded by differing interpretations of the nation's economic health.
Illinois Launches Offensive Against Foreclosure "Rescuers" Attorney General files suits, proposes legislation to stop "cancer on our community."
Ameriprise Loses Customer Data Laptop containing customer data stolen from employee's car, company reports.
Data Blunders Cost ChoicePoint $15 Million Company failed to safeguard consumer data.
GAO: Feds Not Guarding Social Security Numbers Handled by Contractors Controls lax or non-existent on data turned over to government contractors, report finds.
New York Fines Cross Country Bank $9 Million Latest penalty against subprime credit-card issuer.
Subprime Lender Ameriquest Settles Multi-State Probe $325 million is second-largest settlement of its kind.
Phishing Fraudsters Prey on Identity Theft Fears Email warns account has been violated, asks for confirming information.
Adjustable Rate Mortgage Payments Headed Up in 2006 Homeowners who locked in at 3 percent could see their rates double this year.
States Battle Feds Over Predatory Lending Laws Financial interests rain money and favors on a corrupt Congress, hoping to nullify tough state laws.
Realtors See A Cooling Market In 2006 Existing-home sales expected to dip as much as 4.4 percent to 6.79 million units, which would still be the second highest ever.
IRS Wrongly Delays Thousands Of Refunds Taxpayers wrongly labeled as cheats wait years for their refunds, auditor finds.
Bankruptcy Filings Set Record in 2005 Filings plunged after new bankruptcy law went into effect in October.
Michigan Financial Advisors Plead Guilty to Chiseling Seniors Restitution of more than $900,000 ordered.
ABN-AMRO Agrees to $41 Million Settlement Mortgage lender forged underwriters' signatures to speed loan applications.
H&R Block Doesn't Block Identity Theft Unsolicited TaxCut mailings display customers' Social Security numbers.
Bank of America Completes MBNA Buyout $850 million in savings, 6,000 jobs lost in deal that creates world's largest credit card issuer.
H&R Block to Settle More Payday Loan Suits Tax preparer will pay about $30 million to settle latest batch of suits.
DHL Loses ABN AMRO Customer Data Computer tape containing customers' names, Social Security numbers and account info lost in transit, company says.
Beware of Zero Percent Financing Holiday shoppers beware! No-interest deals can become very costly very quickly.
Minimum Credit Card Payments Going Up Feds order higher minimum in January, but exact amount will vary.
Sen. Trent Lott Sues State Farm over Katrina Damage Prominent Republican turns to his brother-in-law, plaintiffs' attorney Richard Scruggs, to sue State Farm.
Identity Theft Fears: Underreported or Overblown? Wildly overblown sky-is-falling statements too often accepted as fact.
Iowa Legislature Urged To Cap Car Title Loans Title loans drive consumers deeper into debt and may cause them to lose their car.
DSW Settles FTC Charges Hackers got shoe stores' data on 1.4 million customers.
Crunch Time for the Middle Class Stagnant wages, rising fuel and health are costs, usurious interest rates put middle class in jeopardy.
"Preacher" Bilked Investors Out of Millions God didn't really guide James Upshaw's investment decisions, Illinois charges.
Millennium Partners Admits Mutual Fund Timing Scam Firm will pay back $121 million in ill-gotten gains.
Scottrade Gets Hacked Hackers crack into eCheck Secure, steal brokerage clients' data.
Car Title Loans the Latest Predatory Lending Tactic Cash-pressed consumers wind up paying interest rates of 300 percent or more.
Lawsuit Challenges New Bankruptcy Law Minnesota lawyers claim new law violates both the First and Fifth Amendments.
Consumer Data Stolen from Trans Union Laptop containing data on thousands of consumers is missing.
Stewart Finance Agrees to Shut Down Georgia company allegedly vitimized elderly consumers with predatory lending practices.
Cambridge Credit Counseling Fined $4.2 Million Non-profit agency funneled millions to for-profit affiliates, Massachusetts alleged.
Payment Processor AmeriNet Settles with Five States Company processed fraudulent and unlawful payments for telemarketers, states charged.
J.D. Power Survey: Hurricanes Destroy Consumer Satisfaction with their Insurance Amica Mutual ranks highest in overall customer satisfaction.
Beware the Pitfalls of Creative Mortgages The author is about to lose her home, thanks to the "creative" mortgage that looked so good a year ago.
Stopping Identity Theft and Spyware Identity theft has people scared silly. Congress is likely to make it worse.
FDIC: Banks Must Improve Online Security Too many banks have sacrificed security for fast page-loading, report warns.
"Spam Charges" Hit Thousands of Credit Cards Tiny charges on thousands of accounts add up fast.
CardSystems Sells Out After Massive Data Breach Biometrics company busy remains of credit-card processor that lost millions of customers' profile.
Gas Prices Push Consumer Price Index Higher Iindex soared 1.2 percent in September as Gulf Coast hurricanes blew gas prices skyward.
New Bankruptcy Law Tightens Rules, Adds Paperwork Congress sells out taxpayers to credit card companies.
Class Action Suit Filed Against AIG Over Katrina Claims Company has not responded to homeowners seeking assistance, suit charges.
Texas Orders Allstate to Pay Homeowners' Claims Homeowners unable to return home should receive living expenses, judge rules.
Credit Cards Ensnare, Victimize Working Families, Report Finds Report finds families use credit cards to make ends meet, then get trapped in ever-escalating debt they cannot escape.
Bank of America Loses Customer Data Again Missing laptop contained confidential information on "Visa Buxx" customers.
Hard to Escape from Negative Option Marketing Simple Escapes morphs into Vertrue, enrolling millions in programs many claim they never heard of.
Bankruptcy Trustees Ease Rules for Katrina Victims Docmentation, credit counseling, other rules waived.
Credit Agencies Won't Give Katrina Victims A Break Equifax, Experian refuse to note pre-storm credit scores in their files.
Bank of America Tells Customers to "Keep the Change" In bid to increase use of debit cards, bank offers electronic piggy bank.
Credit Cards "Treacherous" For Consumers "Cozy relationship" between card issuers, politicans and regulators puts consumers at severe disadvantage.
Congress Ponders Katrina Bankruptcy Relief Bills would exempt storm victims from some or all of new bankruptcy requirements.
Credit Card Companies Rocked By New Merchant Lawsuits Chain drug and convenience stores the latest to challenge transaction fees.
Merchants Sue Credit Card Issuers Seeking Lower Fees High fees imposed on smaller merchants are a "hidden tax" on consumers, suit charges.
Data Breaches Bad for Business Survey finds companies lose 20% of customers affected by security breach.
Setback for Consumers in CardSystems Class Action Judge refuses to order Visa and MasterCard to notify consumers whose data may have been stolen.
New Jersey Adopts Tough Identity Theft Laws Consumers can freeze their credit records, businesses required to safeguard customer data.
Feds Hike Spending Limit on Government Credit Cards Author of ethics guidelines governing the higher limits is arrested by FBI on ethics charges.
Spitzer: Fed Study Confirms Racial Lending Disparities "Shameful" for banks to hide behind federal regulators instead of acknowledging problem, New York Attorney General charges.
Insurance Executives Indicted for Bid Rigging, Fraud New York grand jury indicts eight former Marsh and McLennan managers.
No Bankruptcy Relief for Katrina Victims Rep. Sensenbrenner refuses to hold hearings on waiving portions of new bankruptcy law for hurricane victims.
MBNofA: Bank of America Adopts MBNA's Tactics Spiking interest fees, piling fees on top of fees, Bank of America's credit operation looks more like MBNA everyday.
Subprime Mortgage Pricing Varies Greatly Among U.S. Cities Area damaged by Katrina has some of the highest levels of subprime lending.
Government Agencies Flunk Privacy Tests GAO report finds agencies often don't follow the letter, or the spirit, of the law.
Bill in Congress Would Roll Back Predatory Lending Protections The Ney-Kanjorski bill pending in Congress would gut the strong laws in many states.
Congress May Modify Bankruptcy "Reform" that Penalizes Katrina Victims New bankruptcy law replaces war on poverty with war on the poor.
Katrina Loss Put at More Than $100 Billion Insurance analysts blame inadequate levees, poor preparedness for rising damage, casualty tolls.
Insurance Agency to Pay $30 Million to Settle Connecticut Kickback Charges The Hartford, Travelers, CNA paid kickbacks to agents
Free Credit Reports Now Available Nationwide New law entitles every consumer to one free credit report per year.
Texas Halts Foreclosure Rescue Scam Scam artists preying on troubled homeowners, many of them elderly, state charges.
Higher Minimum Credit Card Payments Add to Consumer Queasiness "Creative" mortgages and higher minimum may put some consumers in a tight squeeze.
Mortgage Bankers Fret About "Creative" Loans Trade association warns consumers, bankers to be wary of interest-only loans.
More Economists Worry About Housing Bubble Effects of a housing crash would be worst than the stock market bust, one warns.
New Home Sales Set Another Record In July Signs of panic buying seen by some economists.
Collection Agency Agrees to Write Off Cross Country Debts Owed by West Virginians Latest skirmish in battle between West Virginia and Cross Country.
Illinois Supreme Court Overturns $1 Billion State Farm Judgment It may be a bad omen for other class actions in Illinois, traditionally a consumer-friendly state.
Free Credit Reports Available Nationwide Starting Sept. 1 Every consumer can get a free credit report once yearly.
Marketer of "Free Credit Reports" Settles FTC Charges Consumerinfo.com advertised "free" credit reports that cost $79 or more.
More Banks Using Universal Default to Hike Interest Rates Consumer Action survey finds nearly all cardholders are vulnerable.
Payday Loans Affecting Military Readiness, DOD Decrees Military organizations setting up programs to help military families get out of debt.
Realtors See Market Coasting For The Rest Of The Year Realtors predict a soft landing for the red-hot real estate market, not a crash.
Ameriquest Faces Blizzard of Suits and $325 Million Settlement with States Bush nominates its founder to be ambassador to the Netherlands.
Terrorism Insurance Act Expiring as Congress Debates White House wants private insurers to take over. Insurers not rushing to comply.
Your Social Security Number - Vulnerable But Inflexible Identity theft victims find changing their Social Security number all but impossible.
TSA's Privacy Law Violations May Lead to More Abuses TSA illegally collected data on 250,000 Anericans.
Inside Trilegiant's Marketing Machine Interlocking web of "clubs" and schemes may be starting to unravel.
IRS Revokes Tax-Exempt Status of Four Credit Counseling Agencies Agency is continuing its investigation of several others accused of abusing their tax-exempt status.
California Sues Chase, Trilegiant Companies deceived consumers into paying for membership programs, suit charges.
Loyalty Cards: Reward or Threat? Retailers use loyalty cards to build huge databases. Who's minding the store?
West Virginia Sues Capital One For "Deceptive And Illegal" Practices Bank offered pre-approved credit cards with low limits and high fees to consumers with poor or limited credit, suit charges.
Florida Sues "Debt Termination" Company New Leaf Associates, LLC, ran phony debt elimination scheme, state charges.
Pennsylvania Fines Illinois Debt Collectors Firm used illegal and deceptive means to collect old debts.
Death of a Colossus: Gargantua Swallows MBNA After preying on bloated interest rates and political plunder, small wonder MBNA found itself no longer hunter but prey.
Cardsystems Named in Class Action Suit California suit claims card processor failed to maintain adequate security.
Bank Of America Buys MBNA Nation's largest bank snatches up MBNA, weakened by consumer dissatisfaction.
Consumers Losing Confidence in Online Commerce, Banking Gartner survey finds phishing, data security lapses could slow or reverse growth of e-commerce.
Tempest in Topeka May Not Be Unique Abandonment of thousands of consumer credit records illustrates security risks in a rapidly-consolidating industry.
Suit Challenges Credit Card Fees Fees charged to merchants amount to an "invisible tax" on consumers, antitrust suit claims.
New Banking Regulation Tightens Overdraft Fee Disclosure Rules New rule doesn't go far enough, consumer groups complaint.
Latest Security Breach Exposes 40 Million Credit Card Accounts to Potential Fraud Hacking incident at Arizona processing center latest in a series of embarrassing security snafus.
Spitzer Charges Feds Conspiring to Shield Banks Against State Consumer Protection Laws "Unconscionable" that federal regulators try to shut down state probe of racial discrimination in lending, NY Attorney General says.
Experian Abandons Thousands of Consumer Data Records Personal records of thousands of consumers left unprotected in Kansas office.
BJS Wholesale Club Settles FTC Charges Thousands of customers' ID data lost through sloppy handling, agency charges.
Don't Ignore Tax Payment Problems Unpaid taxes? Don't panic, there are solutions.
Banks Levy Big Overdraft Loan Fees Without Permission, Study Finds Consumers paying up to $22 billion per year in overdraft fees.
High Foreclosure Rates the Dark Side of a Hot Real-Estate Market Florida, Texas lead the nation in foreclosures.
New Forms of Credit Scoring Emerge Lenders looking for ways to evaluate those with little or no credit record.
WaMu Buys Providian Nation's largest savings and loan picks up a credit-card issuer. Both have long history of customer service problems.
UPS Loses Citigroup Data on 3.9 Million Customers Tapes contained name, address, Social Security numbers and other personal information.
AGs Settle NorVergence Claims With Three Leasing Companies Small businesses were on the hook for telephone service that no longer exists.
Bank of America, Wachovia Employees Sold Customer Data, Police Charge More than 500,000 customers' records may be at risk.
Chicago Insurance Broker Settles Kickback Probe for $27 Million Arthur J. Gallagher & Co. threw business to pre-selected insurers.
SEC Sanctions National Stock Exchange Exchange failed to guard against timed trading.
New York Takes On Predatory Real Estate Scams Scam artists posing as "foreclosure rescue agents" defraud homeowners.
Illinois Passes Privacy Act Measure requires companies to notify consumers when their identity data is lost or stolen.
USA PATRIOT Act Rewards ChoicePoint, Other Private Databases Act empowers the very bunglers vilified for losing, selling and misplacing private data records.
No Payday for Payday Lenders in Texas, New York Texas defeates industry bill, NY court invalidates payday loans.
H&R Block, Household Settle Tax Loan Case Company claims the settlement creates "safe harbor" for future instant tax loans.
Study: Workers Could Be Better Using 401(k) Plans Americans not investing enough overall while putting too much faith in their own company's stock.
West Virginia Sues Capital One Consumers complain of misleading offers, high fees, useless diability coverage.
Credit Bureaus: Biggest Threat to Your Identity How consumer reporting agencies endanger personal information.
NY Sues Alleged Spyware Distributor Los Angeles-based Intermix Media accused of secretly infecting consumers' computers with spyware and adware.
MBNA Turns Up the Heat Flush with the bankruptcy reform victory, self-described "fearless innovators" jack up interest rates, use tough collection tactics
AIG Faces Workers' Comp Audit Company may have evaded state payments for more than a decade.
SEC Missed Mutual Fund Abuses, GAO Report Finds Shareholders lost billions of dollars because SEC wasn't paying attention.
Morgan Stanley Mutual Funds Pay $41.5 Million to Settle Class Actions The company also faces a Florida suit filed by investor Ronald Perelman.
Ameritrade Loses 200,000 Client Files Back-up tape is missing, not stolen, brokerage firm says.
New York Eyes Identity Theft Prevention ChoicePoint thefts illustrate need for tougher laws, Attorney General Eliot Spitzer argues.
Loans Secured by Car Titles Trap Borrowers in Cycle of Debt Cash-strapped families risk losing their cars in the latest form of high-cost small lending.
House Approves Bankruptcy Bill Industry-backed bill now goes to President Bush for his signature. Opponents say the measure leaves the poor, the ill, the elderly, military personnel and their families more vulnerable to credit card companies.
GM MasterCard Data May Have Been Breeched 180,000 consumers warned that they should replace their credit cards.
Previous Data Thefts Unreported ChoicePoint, LexisNexis didn't notify consumers about earlier thefts.
Bankruptcy Bill Preys on Consumers, Endangers Economy, Experts Warn Industry-backed bill leaves the poor, the ill, the elderly, military personnel and their families more vulnerable to credit card companies.
Option One Agrees to Clean Up Its Lending Practices in Pennsylvania H&R Block subsidiary reaches agreement with U.S. Attorney's office.
Inflation Pressure Building Oil price spikes "like a tax" on consumers, economist warns.
Income Tax Filing Extensions Free and Easy Automatic four-month extensions available online or by phone.
Three Debt Management Firms Settle Federal Charges Companies scammed consumers out of more than $100 million by falsely promising easy debt relief, feds charged.
Ponzi Artist Blamed for $150 Million in Losses California man sold bogus investments in accounts receivable factoring.
Payday Lenders Prey on African-American Neighborhoods Payday lending a civil rights issue, report says.
Colorado Mortgage Broker Barred from Making Deceptive Claims PWR Processing, Inc. promised consumers "no-fee," low-interest home mortgages following a process of multiple refinances.
California Sues American Funds Kickbacks paid to broker-dealers, state charges.
Long Island Bank to Refund Illegal Mortgage Fees North Fork Bank charged illegal fee when consumers paid off mortgages.
Mutual Fund Firms Fined $21 Million American Express, Citigroup, Chase fined by SEC.
AmeriDebt To Close as Part of FTC Settlement Company claimed to be non-profit but funneled consumers to for-profit associates, FTC charged.
FDIC Wants Banks to Notify Customers of Identity Theft Rule would apply onto banks, not to data aggregators like ChoicePoint.
ChexSystems Personal Data Business Escapes Public Scrutiny While ChoicePoint, LexisNexis and others are under the microscope, ChexSystems remains largely free of public oversight.
Predatory Lending Bill A Ruse, Consumer Groups Charge GOP measure would eviscerate existing state and federal laws protecting homeowners, opponents argue.
Pennsylvania Tackles Predatory Lending Report finds high foreclosure rate, recommends tougher enforcement and laws.
Merrill Lynch to Pay $10 Million in New Jersey Settlement Financial advisors market-timed mutual funds.
NY Seniors to Recover Funds Lost in Investment Scam Companies voluntarily make up funds scammed by financial advisor from elderly and disabled clients.
Senate Passes MBNA's Bankruptcy Bill House poised to do its backers' bidding.
Aon Settles Insurance Corruption Case Company will pay $190 million to its policyholders and reform its business practices.
North Carolina Court Strikes Down CitiFinancial's Mandatory Arbitration Class action could bring big refunds to thousands of North Carolinians.
Study: Insurance Consumers Often Don't Get What They Pay For Higher commissions usually mean higher premiums, not better service.
Federal Employees' Credit Records Missing Bank of America data backup tapes disappeared while being transferred across country.
California Sues "Living Trust Mill" Seniors allegedly tricked into investing their retirement savings in inappropriate annuities and living trusts.
Class Action Accuses Dell of Defrauding Customers Suit accuses Dell of using bait-and-switch marketing tactics and false promises of low-cost financing to deceive customers.
ChoicePoint Breach Worse Than First Reported Company now admits more than 145,000 records missing.
New Hampshire Sues Amex Financial Advisors Agents pushed mediocre in-house funds, state charges.
States Demand ChoicePoint Notify ID Theft Victims Company has notified only California residents so far.
Private Information Stolen from Nationwide Consumer Database ChoicePoint database contains records on virtually every American resident.
Three More Guilty Pleas in Insurance Scandal A senior executive at Marsh & McLennan and two AIG employees have pleaded guilty to criminal charges in the insurance bid-rigging scandal.
Congress Ready to Tighten Bankruptcy Law Too many consumers get by without paying anything on their debts, bankers argue.
Medical Bills Leading Cause of Bankruptcy, Harvard Study Finds Most of those filing bankruptcy had jobs and insurance before falling ill.
Marsh & McLennan to Pay $850 Million Giant insurance broker apologies for "unlawful" and "shameful" actions.
IRS Warns of Tax Preparer Fraud Error or fraud by the tax preparer can mean prison for the taxpayer.
ACORN Opens Free Tax Prep Sites in 45 Cities Community action group will help low- and moderate-income taxpayers at no cost.
Offline Identity Theft a Major Threat Study funded by banking and credit card interests claims offline ID theft a bigger threat than online.
Don't Overlook the Earned Income Tax Credit IRS offers online tool to help low-income families calculate whether they qualify for valuable tax credit.
Class Action Challenges H&R Block's Electronic Filing Fee Suit says fee is based on "illusory" expenses and should be refunded to millions of clients.
State Farm Pays $40 Million to Settle "Branded" Car Title Issue In multi-state agreement, insurer will compensate owners of vehicles that had been wrecked or stolen.
Minnesota Sues Law Firm Over Debt Collection Meethods Twin Cities firm uses unlawful and bad faith tactics to collect debts, suits charge.
Minnesota Charges Capital One Ads Are Misleading State charges Cap One falsely claims its "low," "fixed" interest rates will never increase.
Beware of Payday Loans Barrage of post-holiday ads aimed at cash-short consumers.
Study Finds Convenience Drives Online Banking Consumers value convenience and time savings, researchers report.
California Files Major Securities Fraud Lawsuit Against Edward Jones Documents detail how secret mutual fund payments conflicted with investors' interests.
Free Money? Don't Think So New York Consumer Protection Board finds government grant scams victimizing thousands.
Home Depot, Lowe's Settle Credit Card Suit Retailers applied customer payments to interest-free items first, letting other purchasers rack up interest charges.
Supreme Court Weakens Consumer Protection in Car Financing Court rules that $1,000 is the maximum allowable penalty for Truth in Lending Act violations by car dealers.
Cashback Payday Loans Banned In New York Company charges excessive interest rates, state charges.
Unum Provident Agrees to Review Denied Disability Claims Cost of New York settlement estimated at $100 million.
California Insurance Corruption Probe Advances Universal Life signs consent decree, agrees to cooperate with prosecutors.
PBHG Agrees to Refund $120 Million to Investors New York Attorney General Eliot Spitzer charged firm's founders illegally engaged in market "timing."
California Settles with Franklin Templeton Mutual funds did not disclose payments to brokers.
FTC Charges Mortgage Companies Failed to Protect Customers' Personal Information Nationwide Mortgage, Sunbelt Lending named in complaint.
Feds Allege Debt Negotiation Service Is a Scam Better Budget Financial Services fails to help clients clear up bills; keeps their money instead.
Florida Subpoenas Insurers The subpoenas seek documents and records that involve questionable fee arrangements and possible bid-rigging.
Cross Country Bank Fined $450,000 Pennsylvania orders company to make restitution to consumers who paid exorbitant fees for credit cards.
NY Insurance Broker Charged With Fraud, Antitrust Violations Attorney General Spitzer charges ULR steered business to insurers in exchange for lucrative payoffs.
Law Firm Fined for Debt Collection Practices The action is part of a Massachusetts crackdown on debt collectors.
Fremont Investment Advisors Settles Market Timing Case Agrees to pay $4.1 million to settle probe by New York Attorney General Eliot Spitzer.
Pennsylvania Sues Living Trust Scheme Older Pennsylvanians deceived into buying Revocable Living Trusts, long term annuities or charitable gift annuities that were costly, not in their best interest or unnecessary, suit charges.
Fast Cash Loans Charged with Illegal Practices Company used abusive collection practices, lied to customers, Washington State charges.
AmeriDebt Gets $15 Million IRS "Gimme" IRS claim based on expectation that the firm will lose its tax-exempt status.
Kirby Sweeps Up West Virginia Credit Reports The company's finance arm smudged purchasers' credit ratings.
Banks Attack Tough California Privacy Law Lawsuit seeks to overturn law that restricts information-sharing by banks.
INVESCO Agrees to Pay $325 Million to Settles Market Timing Charges with Colorado Injured investors to get $215 million.
Consumers Recover $7.9 Million from Equifax Equifax charged consumers $20 bad check fees not authorized by law.
Debt Solutions Inc. Settles Washington Suit Debt reduction firm accused of scamming consumers.
Growing Menace: Fake Check Scams Consumers lose an average of $5,000 each in phony check rip-offs.
Solomon Smith Barney Put Its Interests Ahead of Investors' Pushed its own mutual funds to clients, boosting SSB's earnings but hurting investors.
Credit Counselors Not Always What They Seem Report finds fault with non-profit agencies that basically act as collection arms for large financial institutions.
Pennsylvania Sues Cross Country Bank State charges Cross Country preyed on low-income consumers with tarnished credit.
Ford Credit Owes Refund to 150,000 Lease Customers Company and dealers settle suit brought by 38 states.
Experian, ConsumerInfo.Com Named in Class Action Suit San Francisco suit charges that consumers are duped into spending $79.99 for "free" credit reports.
Free Annual Credit Reports Required by Next Year Consumers will be able to get reports from Equifax, Experian, Trans Union and specialized credit agencies.
Bogus Pharmacy Card Scam Hit Thousands Scam artists charged thousands of consumers for cards they didn't order or receive.
Debt Collection Agency Fined $1.5 Million NCO Group settles charges it violated debt reporting rules.
Integrated Credit Solutions Settles Massachusetts Charges Will pay $600,000 in restitution to consumers.
Court Closes National Consumer Council Supposed non-profit claimed to establish "trust funds" for debt-ridden consumers.
Supreme Court OKs MBNA's Charging Interest on Fees Consumer suit argued the practice violates the Truth in Lending Act.
FTC Will Refer Consumer Complaints to Credit Bureaus New procedure requires credit agencies to pay attention to disputed reports.
IRS Warns Stock Losses Can't Be Taken As Theft "Dirty Dozen" tax scams can land you in big trouble.
Judge Upholds Racketeering Complaints Against H&R Block, Household Class-action suits accuse the companies of conspiring to trick poor customers into taking out high-interest loans.
Credit Counseling Riddled With Fast-Buck Promoters, Congress Finds IRS may revoke non-profit designation of some agencies; criminal prosecution possible.
Spitzer Spoils Bank of America's Party Extracts $675 million settlement in mutual fund case.
Fed Clears Bank of America-FleetBoston Merger Will create nation's third-largest bank.
PayPal Settles With New York Agrees to Better Disclose Account Holders' Rights
Court OKs Class Action Against H&R Block Suit charges Block gouged clients who filed electronically.
Bank of America Loses Class Action Suit Illegally tapped Social Security direct deposits, jury finds.
Feds Say Debt Negotiators Bogus Briggs & Baker and Debt Resolution Specialists charged with bilking consumers.
Class Action Suit Names Home Depot, Lowe's, Monogram Credit Card Bank "Six Months Interest-Free" is anything but, suits claim.
Tax Anticipation Loans Victimize Cash-Strapped Consumers H&R Block and other commercial preparers drain $1.2 billion from working poor each year.
Lenders Ratchet Down Payments to Credit Counselors Rebate program gives way to charitable contributions based on agency's "benefit to consumers."
Wal-Mart Will Decline Some MasterCards Consumers will have to key in PIN to use MasterCard debit cards.
Fairbanks Capital To Refund $40 Million To Consumers Company settles federal charges it illegally gouged subprime mortgage customers.
OSI Financial Settles Charges Illinois loan broker misrepresented loan terms, FTC charges.
AmeriDebt Deceives Consumers, Missouri Charges "Nonprofit credit counselor" actually a growth-oriented business, lawsuit alleges.
Stewart Finance Charged with Illegal Lending Practices Subprime lender packs additional products onto loans, deceives customers, FTC charges.
Conseco Sells GM Building, May Emerge from Bankruptcy by Mid-September Meanwhile, Conseco loan portfolio reverts to Greentree.
Equifax to Pay $250,000 to Settle Charges It Blocked and Delayed Consumer Calls Delays violated terms of an earlier consent decree.
Sears Sells Its Credit-Card Business Citigroup will take over 25 million Sears Card and Sears MasterCard accounts.
BestBank Executives Indicted Bank's collapse stuck FDIC with $200 million bill.
Visa, MasterCard To Pay $3 Billion in Debit Card Suit Retailers save billions, banks lose billions. Consumers? Hard to say.
Visa, MasterCard Ordered to Refund Currency Conversion Fees Companies "hid" conversion fees, judge rules. Refund could exceed $800 million.
Quicken Loans Settles Federal Charges Consumers weren't told of their rights to contest adverse credit reports.
