In these days of increasingly tight credit, credit card companies are still targeting college students and potential first time cardholders for credit card offers. One study found that 33% of 2007 college graduates had credit card debt from college exceeding $5000. It’s gotten so bad that even a 4 year old girl was [...]
Barack Obama called for revisions to the Republican-led bankruptcy reforms passed in 2005. The proposal focused on assisting individuals declaring bankruptcy due to debts related to health care/medical procedures, military personnel and their families facing debt due to extended deployment, frequent moves, or predatory lending, and protecting the elderly against losing their home in bankruptcy. [...]
Congress and the Federal Reserve are currently considering legislation and regulation to alter potentially deceptive and misleading practices in the credit card and banking industry. If you haven’t seen the proposals already, and would like more information, then you can get find it at the Federal Reserve’s press release here and the subsequent press [...]
