Look for Increases in Bank Fees

Bank fees are on the rise and don’t expect them to go down anytime soon according to the Chattanooga Times Free Press.
The Federal Reserve Bank’s recent interest rate cuts may have provided some relief for consumers, but banks have been left looking for other streams of revenue to compensate.
For many banks, that additional revenue comes [...]

Payday Lending point of view in Cleveland Plain Dealer

James Frauenberg II, President of the Ohio Association of Financial Service Centers and a senior exec at Checksmart, had this to say in today’s online version of the Cleveland Plain Dealer:  
       “The payday lending industry isn’t perfect. Not all stores conform to the tough rules imposed on CFSA members. And sometimes, payday loans are not the [...]

The average American family pays $1200 in credit card interest each year

That and other amazing facts about credit card use can be found here.

Colorado Legislation – Good Points from the Center for Consumer Freedom

The Center for Consumer Freedom has some excellent commentary on their website regarding legislation in Colorado from Rep. Mark Ferrandino.  In their words:
Some bureaucrats simply cannot rest until Americans are convinced that we need more laws to protect us from ourselves. …More and more politicians are adopting the lousy habit of injecting themselves in your [...]

Deadline in Arkansas for payday lenders

As this story reminds the Payday Pundit, today’s the day payday lenders in Arkansas are supposed to comply with the state AG’s order to shut down.   Recent stories indicated that only 22 stores of 156 were complying.    It looks like the courts will decide this.

Industry critics want to re-open VA payday lending fight

If anything highlights the unreasonableness of payday lending critics, this article from the Daily Press in Virginia does.  Simply put, nothing short of a complete ban on payday lending will please them.  They are not to be believed when they say they support ”reforms.”    The point if made by an industry defender:
        ”…a spokesman for Advance America predicted [...]

“Rich in love, not in money.”

That’s how Wade Rousse, economic outreach specialist at the Federal Reserve Bank of Chicago, descibes his upbringing.  In this compelling article, he says Financial Literacy changed his life.   Now he promotes the Fed’s “MoneySmart’ program.   MoneySmart is also one of the programs promoted through the Community Financial Services Association’s own Financial Literacy efforts.