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News

2007

August

29
  • Census: Health benefits scarcer. New numbers from the Census Bureau will likely fuel political debate in Congress and statehouses about the growing problem of the uninsured: Their ranks rose by 2.2 million in 2006. Overall, 47 million people lacked…
  • Consumidores en apuros. La confianza de los consumidores se redujo en agosto debido a la turbulencia en los mercados financieros y a los requisitos más estrictos para obtener créditos, pero también a la dificultad que estos están enfrentando…
28
  • Pressure mounts on student loans. The multibillion-dollar market for securitized student loan debt faces new stresses as Congress moves to reshape the troubled student loan industry. With concern over the subprime crisis shaking up the credit markets, financial industry groups…
  • California anti-class-action initiative withdrawn. A ballot initiative to limit class-action lawsuits was abruptly withdrawn from the state Attorney General's office today after the backers, a coalition of businesses and local governments, said the timing of the June 2008 election…
  • Gas hits five-month low heading into holiday. U.S. drivers heading into the last vacation weekend of the summer are enjoying the lowest gasoline prices in almost five months, the government said Monday. The national price for regular gasoline fell 3.6 cents over…
  • Home sales go from bad to worse. The news Monday from the National Association of Realtors was bad enough: Sales of existing homes fell in July to their slowest pace in five years. The glut of homes for sale is at a…
27
  • Online, pocket change not easily spent. The idea of micropayments — charging Web users tiny amounts of money for single pieces of online content — was essentially put to sleep toward the end of the dot-com boom. In December 2000, Clay…
  • Mortgages remain for some homebuyers. What credit crunch? Home buyers with solid credit and money for a down payment are now better positioned than they were a few weeks ago. The average 30-year fixed mortgage rate is at a three-month…
25
  • Cards train kids to use plastic. we are, a nation deeply in debt. All told, America’s adults are on the hook for well over $2 trillion, and more than a third of that is credit card debt. Given the circumstances, what…
24
  • States move to limit subprime lending damage. Gov. Michael F. Easley of North Carolina signed legislation last week that would limit the ability of mortgage brokers to charge customers above-market rates and prepayment penalties and would protect subprime borrowers from highly risky…
23
  • Monster.com users become prey for phishers. Hundreds of thousands of job seekers are at risk of being ripped off through a sophisticated scheme concocted by Internet criminals who have penetrated the resume database at Monster.com, one of the nation's largest recruitment…
  • Laid off? Cut back and get back out. Capital One's ubiquitous advertising campaign - "What's in your wallet?" - has taken on a different and jarring meaning for hundreds of workers in its mortgage-banking unit since the financial services company announced a wave…
  • 'Handcuffs' chafe wireless phone users. To many, the Apple iPhone is the ultimate wireless device — a seductive blend of technology, function and dead-on cool, all wrapped into a sleek package. To others, it's a glaring example of what's wrong…
22
  • Few know they are eligible for kids' health coverage. During the four years that her children were uninsured, Cassie O. Hall used the emergency room as their pediatrician. When Tayana had an asthma attack or Darren developed a stubborn rash, they would head to…
  • Consumers don't heed savings interest rates. Sixty percent of consumers surveyed in May said they "almost never" check the interest rates available on savings accounts, even though most respondents pointed to rates as a top concern for them, according to an…
  • Billions stream into safe government funds. Amid concern about the credit crunch, institutional investors are shifting money out of money market funds that could potentially hold risky corporate debt and into other money funds that invest only in ultrasafe government securities.…
  • Tenant screening could cost you rental. The process of finding the perfect rental house or apartment can range from hectic to nearly impossible. But it could be worse: Picture yourself locating that long sought-after apartment or town house only to be…
  • California urged to help homeowners in foreclosure. Lawmakers and lenders called on the state's troubled home mortgage industry Tuesday to step up efforts to help financially strapped Californians avoid losing their homes to foreclosure. But they stopped well short of endorsing calls…

May

23
  • 2007 Credit Card Survey. Consumer Action's 2007 Credit Card Survey was conducted between Oct. 9, 2006 and March 2, 2007. Consumer Action examined 83 cards from 20 banks, including the top 10 U.S. credit card issuers. In our new report we detail our findings on change of terms provisions, penalty rate policies, balance transfer costs and offers, fees to pay by phone and to make last-minute payments online, cash advance costs, residual interest and two-cycle billing, minimum ages for authorized users, rewards cards, arbitration clauses and minimum payment formulas.
16
 

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