Credit card companies are busy crafting new tricks and traps to bypass both Federal Reserve Board rules and new federal law set to take full effect in late February 2010, a new research report from the Center for Responsible Lending finds. Entitled “Dodging Reform: As Some Credit Card Abuses Are Outlawed, New Ones Proliferate,” the [...]
65% of corporate financial advisers have stated that the ‘the banks are not lending’, according to an independent survey commissioned by Centric Commercial Finance. 72% said that cash flow was proving to be their clients’ biggest challenge. Disappointingly, 56% of respondents claim that banks have removed or are restricting clients’ facilities. Tim Hawkins comments: “The [...]
Governments, industry can make choices to increase financial inclusion in the next decade The growing use of branchless banking, including mobile phone banking, is inevitable in most countries. But it’s far less certain whether large numbers of the unbanked poor will use these alternative channels for financial services beyond payments, such as savings and credit. [...]
Parents With Young Children Hit Hardest By ATM Fees Overdraft bank fees have been public enemy number one for American consumers, but apparently, there’s a new villain in town: ATM fees. More than a quarter (26 percent) of Americans are more angry about having to pay ATM fees than they are overdraft fees (24 percent), [...]