Smart Borrower Blog

Archive for April, 2011

JPMorgan Chase Steps Up Small Business Lending

This should make some small business owners breathe easier. JPMorgan Chase announced yesterday its plans to increase 2011 funds for small business loans to $12 billion, a 20 percent increase from last year. “Small business owners are not only our neighbors, but also the entrepreneurs that hire half of the employees in the United States. […]

US Consumers Borrow More In February

According to an article in the Wall Street Journal, a Federal Reserve report states for the fifth month in a row US consumer borrowing was up, rising a total of 3.8 percent to 7.62 billion during the month of February. Economists had predicted a rise but, only of about 5 billion. February’s gain was the largest […]

New Credit Card Rule Could Keep Moms From Money

The Federal Reserve has added one more change to the credit card rules in a market already reeling from sweeping shifts mandated by Congress. The addition is this: credit card companies must consider only individual income, not household income, for each applicant. While this rule was most likely designed to target college students, it may […]

Not All Student Debt Created Equal

Student loans have generally been considered a “good” or “safe” debt, as they are an investment and allow the borrower to significantly increase income potential. In fact, the College Board reported last fall  in 2008 the median income for those who earned a bachelor’s degree and had full-time work was $55,700. That is $21,900 more […]

Student Loan Debt May Exceed A Trillion By Years End

According to an article on NYTimes.com, student loan debt could very well pass the trillion dollar mark by year’s end. Just last year student loans surpassed credit card debt, and it did not stop there. With the economy continuing to be sluggish, coupled with colleges receiving less funding and raising their tuition, more and more […]

New Debit Card Fee Regulations Spur Lawsuit

Federal Reserve Chairman Ben Bernanke and the Fed’s Board of Governors are being sued over new debit card fee regulations passed by Congress. TCF National Bank, backed in Minnesota, filed the suit claiming the rules, which limit the amount of money banks can charge for card transactions, are unconstitutional. “The purpose of sound regulation is […]