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SECURE Act aims to help protect consumers from credit score gotchas

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These days, lenders and others rely heavily on credit scores to make a quick assessment of a consumer’s creditworthiness. But, vulnerable consumers can find themselves tricked into paying more than they had planned, just to find out their own credit scores. In our new policy brief, “Errors and Gotchas: How Credit Report Errors and Unreliable Continue Reading

Posted by Maureen Mahoney in Banking, Credit, Credit Reports | No Comments »

The Rates Are Too Damn High: Student Loans About to Get More Expensive

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It’s Springtime, and for many students it’s decision time too.  College admissions are in full swing, and many students are trying to figure out where to go to school – and how to pay for it.  This decision has big financial consequences, as tuition keeps going up and more people have to take out student Continue Reading

Posted by Suzanne Martindale in Credit, Student Loans | No Comments »

CU Policy Brief Shines a Light on Credit Report Errors and Unreliable Credit Scores

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Now more than ever, consumers need credit reports that are fair and accurate, and deserve easy access to the same credit scores lenders use to make decisions about them. That’s because credit report mistakes can make it harder to get a fair rate on a loan or auto insurance or even prevent someone from getting Continue Reading

Posted by Maureen Mahoney in Banking, Credit, Credit Reports | No Comments »

Take a Hike: The Rising Cost of Getting a College Degree

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By: Caitlin Watkins Since the 1980’s, the cost of higher education has increased much faster than the rate of inflation. As a result, the cost of tuition has skyrocketed over the past few decades. The total outstanding student debt now stands at a whopping $1 trillion, and consequently, many consumers and policymakers are demanding changes Continue Reading

Posted by Caitlin Watkins in Debt Relief, Student Loans, Uncategorized | No Comments »

Campaign Raises Awareness about College Access and Affordability

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On March 6, 2014,The Center for American Progress and 24 other national and state-based organizations launched a national campaign to tackle the student debt crisis– the Higher Ed, Not Debt campaign. The goals of the campaign are to help the 38.8 million Americans currently holding $1.2 trillion of student debt, and to make college more Continue Reading

Posted by Caitlin Watkins in Student Loans | No Comments »

It’s Not Just Your Mother’s Reverse Mortgage: Pitfalls Impact Multiple Generations

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What exactly should you do when you find out that your mother’s reverse mortgage stripped all the equity out of a family home?  Slap this reality down next to the fact that you may have just lost your mother and you yourself are an aging adult.  What then? Such is the plight of more and Continue Reading

Posted by Norma Garcia in CFPB, Debt Relief, Mortgages | No Comments »

Data Breaches Driving You Crazy? California DMV gives consumers new reason to worry.

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Uh, oh. It’s happened again: another data breach. Consumers who used the California Department of Motor Vehicles (DMV) online credit card payment system may find their credit card information is at risk. The California DMV’s Public Information Officer, Armando Botello, says that the DMV was “alerted by law enforcement authorities to a potential security issue Continue Reading

Posted by Christina Tetreault in Banking, Credit, Credit Cards, Payments, Payroll Cards, Prepaid Cards, Privacy, Security Breaches | No Comments »

Slip Sliding Into Debt: New CFPB Report Confirms Payday Loan Debt Trap

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Today the Consumer Financial Protection Bureau (CFPB) released a new report that chronicles how dangerous the payday loan terrain is for consumers.  Payday loans are short term cash advances on the borrower’s next paycheck.  The costs can quickly grow if the borrower cannot pay off the loan or needs to borrow a second loan to Continue Reading

Posted by Norma Garcia in CFPB, Credit, Debt Relief, Payday Loans, Uncategorized | No Comments »

Mortgage Madness Continues? CFPB Receives 4,300 Mortgage Complaints per Month

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Last February, Steve Antonakes, Deputy Director of the CFPB, noted that the agency’s “mortgage complaint volume . . . remains high and averages around 4,300 complaints per month.”  He made these remarks while speaking before the U.S. Chamber of Commerce. According to a recent blog by Housingwire, these numbers “show little improvement in the volume Continue Reading

Posted by Norma Garcia in Banking, CFPB, Credit, Mortgages, Uncategorized | No Comments »

Does Bling equal Ka-ching? A Credit Card for the One Percent

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by guest blogger Caitlin Watkins Would you spend $7500 for a piece of metal in your pocket? Fancy metal credit cards don’t provide any better consumer protection than the plain ol’ plastic. In fact, their fees are often higher. We’ve been seeing some fancy metal cards popping up lately from almost every credit card company, Continue Reading

Posted by Suzanne Martindale in Credit, Credit Cards | No Comments »