The Latest Debt & Finance Blog
To the delight of consumer advocates, several American banks will be discontinuing controversial add-on products such as payment protection and debt protection in the coming year. Bank of America After…
As housing values inch their way up ever so slowly and the real estate market begins to recover, higher prices may actually make it a bit harder for some Americans…
A recent study found that nearly half of all Americans live comfortable lives during retirement but die with little money in the bank. According to the nonprofit National Bureau of…
As the nation works to recover from a struggling real estate market, an innovative program called CityLIFT has been unveiled in an effort to boost homeownership. The program will benefit…
New guidelines are in the works to help relieve millions of Americans trapped by underwater mortgages, meaning they owe more than their homes are worth. The Federal Housing Finance Agency…
An increasing number of seniors are becoming the target of predatory swindlers who come in two forms: those who convince seniors to make large financial investments based on bogus schemes…
Recent consumer reports indicate there was a slight shift among Americans and their approach toward debt — and it seems to be affecting economic growth. According to a July 2012…
Uncertain economic times may become even more challenging in a matter of months, as millions of Americans could face 2013 riddled with significant tax increases. If changes are not made…
Despite the modest housing market gains in the past 12 months, many younger borrowers are still likely to be underwater in their home mortgages, real estate experts recently said. About…
American consumers are doing their best to pay their bills and stay out of debt by using coupons to shrink costs. It’s working — but much more could be saved, experts say.
Sources:
- O'Daniel, A. (2012, August 22). Bank of America Will Stop Selling Credit Protection Service. Retrieved from http://www.bizjournals.com/charlotte/blog/bank_notes/2012/08/bank-of-america-will-stop-selling.html
- Gombossy, G. (2012, August 25). Bank of America Exits Credit Card Protection. Retrieved from http://ctwatchdog.com/finance/bank-of-america-exits-credit-card-protection
- United States Government Accountability Office (2011, March). Consumer Costs for Debt Protection Products Can Be Substantial Relative to Benefits but Are Not a Focus of Regulatory Oversight. Retrieved fromhttp://www.gao.gov/assets/320/317042.pdf
- Johnson, A.R. (2012, August 21). Bank of America Nixes Debt-Protection Product Amid Industry Scrutiny.
- Herron, J. (2012, August 22). BofA Dumps Add-on Products. Retrieved from http://www.bankrate.com/financing/credit-cards/bofa-dumps-add-on-products/#ixzz24yfjhLL6