If you have a debit card you may get a letter in the mail telling you that you are no longer protected from overdrafts unless you tell the bank that you want to sign up …

However, they do not limit interest or charges.

New rules took effect February 22nd, and more are coming in August.  They limit the ability of credit card issuers to raise interest rates on existing balances and …

Rules take effect on Feb 22nd, 2010.  Read your mail!

The single biggest benefit of the much-touted new rules for credit cards — prohibiting credit card companies from raising interest rates on existing balances — has …

By one expert’s estimate 5.3 million US homes have a mortgage that is more than 20% higher than their home’s value and 2.2 million of those are “under water” by more than 50%.  It is …

To protect the more than $600 billion in student loans insured by the federal government, Congress has made it very difficult to modify these loans.  Bankruptcy courts are not allowed to reduce the principle except …

Congress recently passed what one expert called a “Set of discrete new laws” to regulate the credit card industry (see our blog entry on Credit Card Rates Going Up for details, but as the …

The administration has announced that its Making Home Affordable program, its major attempt to prevent wholesale foreclosures, has signed up almost 20% of those eligible.  650,000 borrowers have started a “trial loan modification” as part …

The elephant in the living room of this recession is the huge number of mortgages that are in trouble — or going to be in trouble –  because of increased interest rates, layoffs, and other …

As of February, 2010, banks will be restricted in their ability to issue credit cards to people under 21 who do not have “independent means” of paying the bills.  That leaves many college students in …

Average credit card interest rates rose to 14.43% in May according to the Federal Reserve as credit card issuers get ready for the new rules from, the Credit Card Act of 2009 taking effect starting …