The Latest Debt & Finance Blog

JPMorgan Fined for Illegal Lending Practices

JPMorgan Accepts $13 Billion Fine For Lending Practices

By Bill Fay | November 20, 2013

JPMorgan Chase Bank agreed to pay a $13 billion fine to the U.S. government for its role in the disastrous mortgage lending practices that landed more than 15 million American…

Scissors cutting a cable cord

Frugal Man Pulls Plug on Cable, Saves $1,200 a Year

By Bill Fay | November 6, 2013

We don’t have ESPN at my house, which is a little like a minister saying he doesn’t have a Bible at home. I was a sports writer for 25 years…

President Barack Obama speaking

Federal Government Reopens, Cloud of Uncertainty Passes for Now

By Bill Fay | October 17, 2013

The cloud of financial ruin threatening the U.S. and world economy floated away Wednesday, but it will be back. President Barack Obama and Congress made sure of that when they…

U.S. Capitol with a chain link in front of it

Consumer Financial Services Affected by Government Shutdown

By Alanna Ritchie | October 4, 2013

The continued U.S. government shutdown, now entering its fourth day, means that myriad services for consumers remain at a standstill. The Small Business Administration (SBA), the Federal Trade Commission (FTC),…

Man riding a bike to work

Frugal Man Rides His Bike to Work for ‘The Exercise’

By Bill Fay | August 30, 2013

I have just discovered that I am part of America’s 1 percent. Not trying to brag too much here, but actually, I’m even more elite than that. I’m in the…

People in a party carrying a young man

Frugal Man’s Flashback: Sharing Costs on College Parties, Food

By Bill Fay | August 23, 2013

I have a vivid picture of my first night at college 40 years ago and I’m sure it doesn’t differ much from yours. When I walked into my dorm room…

Hardwood flooring panels

Frugal Man ‘Turned On’ by Discounted Flooring, Free Installation

By Bill Fay | August 16, 2013

I like surprises. Whether you’re aware of it or not, you do too, or at least your brain does. Neuroscientists from Emory University and Baylor University conducted research that proves…

Dining at home

Frugal Man’s Drink of Choice: ‘Water, Please’

By Bill Fay | August 9, 2013

Being a frugal family is a team sport. Everyone has to agree in practice, if not in principle, that saving money is a really good idea. The principle part is…

U.S. House Speaker John Boehner talks about student loan interest rates

Congress Approves Student Loan Bill, Sends to Obama

By Bill Fay | August 1, 2013

The U.S. House of Representatives on Wednesday ended a prolonged debate in Congress with an overwhelming 392-31 vote supporting the Senate’s plan to rework student loan interest rates. The Bipartisan…

Money in hand

Frugal Man’s Golden Advice: ‘Nobody Ever Got Rich Spending Money’

By Bill Fay | July 31, 2013

When I was growing up, I thought starting out with limited means made you an ideal candidate for becoming frugal. It turns out the exact opposite is true, at least…

Sources:

  1. Douglas, D. (2013, November 19) Justice announces record $13 billion settlement with JPMorgan. Washington Post. Retrieved from http://www.washingtonpost.com/business/economy/jpmorgan-finalizes-13-billion-settlement-with-us-over-toxic-mortgages/2013/11/19/a8863156-50aa-11e3-a7f0-b790929232e1_story.html?tid=auto_complete
  2. NA (2013, November 18) JP Morgan Chase, feds agree to $13 billion settlement. CBS News. Retrieved from http://www.cbsnews.com/8301-201_162-57612888/jp-morgan-chase-feds-agree-to-$13-billion-settlement/
  3. Protess, B., Silver-Greenberg J. (2013, Nov. 18) U.S. Poised to Announce $13 Billion JPMorgan Settlement. New York Times. Retrieved from http://dealbook.nytimes.com/2013/11/18/justice-department-poised-to-announce-mortgage-deal-with-jpmorgan/?_r=0
  4. Dreier, P. (2013, July 12) To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Doman. The Nation. Retrieved from http://www.thenation.com/article/175244/rescue-local-economies-cities-seize-underwater-mortgages-through-eminent-domain#
  5. La Roche, J. (2013, November 19) JPMorgan Will Pay Record $13 billion Settlement Over Mortgages. Business Insider. Retrieved from http://www.businessinsider.com/jpmorgan-13-billion-mortgage-settlement-2013-11