Category: Consumer Information
“I just need enough cash to tide me over until payday.” “GET CASH UNTIL PAYDAY! . . . $100 OR MORE . . . FAST.” The ads are on the radio, television, the Internet, even in the mail. They refer to payday loans, cash advance loans, check advance loans, post-dated check loans, or deferred deposit [...]
New Federal Reserve rules give debit and ATM card users additional options regarding overdrafts. In the coming months, banks, credit unions, and other financial institutions must offer you the ability to make decisions about overdrafts for transactions made with your debit or ATM cards. Expect your bank to send you an explanation about how it [...]
8 ways to avoid pitfalls in areas such as interest rate and fee increases As previously reported, Congress in 2009 passed a new law for credit cards that helps protect consumers from most instances of sudden interest rate increases and other unfavorable changes in fees and account terms. Most of the rules implementing the law [...]
Prohibitions and Restrictions on Interest Rate Increases: Card issuers generally can’t increase the interest rate on a credit card for one year after an account is opened, and after that, the rate can generally only rise on new transactions. However, there are several exceptions that allow for rate increases during the first year and on [...]
How many people does it take to screw in a CFL light bulb? One but what a smart consumer. CFLs or Compact Florescent Lamps may not be a shoppers first choice when picking out bulbs but they should be. These bulbs retail for about $4. Much more costly then the traditional incandescent bulbs many households still use. [...]
FTC Adds “Do Not Call” Registry to Current Telemarketing Sales Rule The Federal Trade Commission’s amended Telemarketing Sales Rule puts consumers in control of telemarketing calls they receive at home. With the creation of the National ”Do Not Call” Registry, the FTC will make it easier and more efficient for consumers to stop getting unwanted telemarketing. The National [...]
