NEW YORK — For the first time, companies that issue credit scores for millions of consumers which determine their credit-worthiness will be under government oversight. The Consumer Financial Protection Bureau will supervise roughly 30 firms that make up 94 percent ...

Tagged with: Consumer Financial Protection Bureau credit score Government Richard Cordray united states

WASHINGTON — The Supreme Court ruled Tuesday that disputes between consumers and companies that issue credit cards to people with bad credit ratings can be handled in business-friendly arbitration, rather than federal court. The justices voted 8-1 to reverse a ...

Tagged with: arbitration consumers credit score justices Supreme Court

One point. That’s all that it took on this borrower’s credit score to go from having an approved loan to having no loan at all. Twenty years ago if someone would have asked you what your FICO score was, you ...

Tagged with: credit score debt fannie mae fha freddie mac loans mortgage Robert Nusgart

Installment debt is not a bad thing. It enables us to make major purchases that would be nearly impossible to finance up-front. The problem is, in this consumer society, we’re bombarded with advertisements for literally thousands of “must-have” products. The ...

Tagged with: bills credit card credit rating credit score finance Gary S. Williams mortgage

It pays to be rich if you need a credit card. A year after sweeping credit card regulations upended the industry, banks are showering perks and rewards on big spenders with sterling credit scores. And they’re socking customers with spottier ...

Tagged with: Banks consumers credit cards credit score interest rates

I’ve heard the line many times. “I have a 780 credit score and I’m putting down 20 percent. They should want me as a customer.” Well, they do. But now, even the most creditworthy borrowers are being hit with pricing ...

Tagged with: credit score fannie mae loan mortgage Robert Nusgart

While most experts see little good news in 2011’s housing market, economic downturn is no reason to neglect maintenance on a home or lose sight of plans to relocate. The critical issue is planning intelligently for what spending you do ...

Tagged with: Banking credit score Economy Gary S. Williams growth housing market loan mortgage Real Estate Recession