President Barack Obama promised on his weekly radio and internet address Saturday that Treasury Secretary Timothy Geithner would soon announce a new plan to lower mortgage costs, extend loans to small business to create jobs, and revive the financial system to get credit flowing again.
During the bank bailout debates in September and October of this [...]

If you go back a few years and start reading articles on how to act responsibly with your credit, you’ll see similar advice as what you see today:

Pay off your card every month.

If you carry a balance, make additional payments on the credit card with the highest interest rate first.

Make more than the minimum payment [...]

The new White House website has President Barack Obama’s agenda.  I took a few minutes to peruse it and didn’t see bankruptcy reform or debt relief among the major issues listed.  So I did a bit of digging, and here’s what I found.
From the overview of the page on family, it says Obama will “reform [...]

When creditors last fall asked the U.S. Government to expand the time limits for the repayment of debt through their partial debt forgiveness plans, as well as extend the time for writing off debt forgiven through the plan, I wondered if the federal government would opt to clarify the options for debtors unable to pay [...]

The Credit Cardholders’ Bill of Rights was reintroduced into Congress today.  It will be interesting to see how the bill develops, since it was already passed by the House of Representatives last year (it did not pass the Senate), and the Federal Reserve will enforce regulations in 2010 that mimic many of the provisions of [...]

One of the commonly accepted contributing factors of the Great Depression in the 1930s was the Smoot-Hawley tariff bill, which increased taxes on goods imported into the United States.  After retaliation by foreign governments, trade between countries shrunk dramatically. After a few days to think about what the Federal Reserve has done, I’m wondering if [...]

The credit card industry may face “a day of reckoning” on Thursday, according to one leading news agency.
The Federal Reserve is set to vote on the much anticipated new regulations for the the credit card industry on Thursday that resulted from the proposed regulations and public comment period that the Federal Reserve announced back in [...]

Back in May when Ben Bernanke and the Federal Reserve proposed changes to rules related to credit cards, they did so under the theory that “improved disclosures alone cannot solve all of the problems consumers face in trying to manage their credit card accounts.”  Others in favor of credit card reform argued in support that [...]

The New York Times reported that credit card offers sent via the mail in the second quarter of 2008 are down about 14 percent over the second quarter of 2007.  Does this mean that we’ll be free from their junk mail in our mailbox anytime soon?  That seems unlikely.  They still sent out an amazing [...]

The Democratic Convention is slated to begin this week in Denver and I’m already disappointed about Democratic Presidential Nominee Senator Barack Obama’s choice for his Vice Presidential Candidate - Senator Joseph (Joe) Biden from Delaware.
Delaware is the state of incorporation for most large corporations in the United States because of the perception (whether real or [...]