Sign In
Free Newsletter
Govt. to supervise credit reporting for first time
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 of the industry. That includes the three big credit reporting firms: Equifax Inc., Experian and […]
Supreme Court rules in favor of arbitration
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 federal appeals court ruling allowing consumers to sue in federal court, the latest in a […]
Robert Nusgart: Common sense is needed in credit scoring
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 would have shaken your head. Credit scoring, as we now know, is what makes or […]
Gary S. Williams: ‘Pay later’ mentality could ruin your credit
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 result is that while our parents tended to pay with cash and buy only what […]
Big spenders getting big perks from credit card firms
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 histories with higher interest rates, lower credit limits and new annual fees. In some cases […]
Robert Nusgart: Price adjustments come even at 20% down
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 adjustments that just a few years ago would have been thought to be ludicrous by […]
Gary S. Williams: Keep planning while waiting to sell your home
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 now to make sure it’s worth your money later. And even if your plan to […]
