Archive for April, 2011
JPMorgan Chase Steps Up Small Business Lending
Apr 27th, 2011 @ 11:47 AM by Amber NelsonThis 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. […]
more »US Consumers Borrow More In February
Apr 25th, 2011 @ 11:17 AM by Debbie DragonAccording 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 […]
more »- Posted in Personal Borrowing
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New Credit Card Rule Could Keep Moms From Money
Apr 20th, 2011 @ 12:00 PM by Amber NelsonThe 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 […]
more »- Posted in Credit Card Debt, Other Loans
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Not All Student Debt Created Equal
Apr 13th, 2011 @ 1:02 PM by Amber NelsonStudent 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 […]
more »Student Loan Debt May Exceed A Trillion By Years End
Apr 11th, 2011 @ 4:29 PM by Debbie DragonAccording 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 […]
more »- Posted in Student Borrowing
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New Debit Card Fee Regulations Spur Lawsuit
Apr 6th, 2011 @ 8:18 AM by Amber NelsonFederal 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 […]
more »- Posted in Other, Personal Borrowing
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