ConsumerAffairs.Com Financial News
Personal finance news, scams, lawsuits, prosecutions, company info and warnings from ConsumerAffairs.Com

• Home Values Plunge At Record Rate
  Biggest drop since 1991; Miami leads price decreases.
• Credit Card Debt Climbs Worldwide
  Americans falling behind on payments; other nations' debt surging.
• As Credit Delinquency Rises, So Does Credit Relief Scrutiny
  States struggling to control credit counselors.
• TJX Settles with Banks over Data Breach
  Nearly 100 million consumers may have been affected.
• Foreclosures Up 68 Percent In November
  Another surge in defaults expected early next year.
• Nevada Leads In Foreclosures – and Rescue Scams
  Beware of strangers offering help with mortgage lenders.
• Fed Endorses Lending Protections
  New rules include better disclosures, income verification.
• Student Loan Company Agrees to End Kickbacks to Schools
  New code of conduct bars false, misleading marketing.
• Connecticut Derails Title Insurance Kickback Scheme
  Companies agree to pay $700,000, customers to be reimbursed.
• Payday Lenders Trumpet False Claims, Critics Charge
  Lenders claim working families worse off in states that ban payday loans.
• Report: Some Home Prices Could Fall 30 Percent
  Prices likely to sink through at least 2009, Moody's warns.
• Delinquencies and Foreclosures Continue to Rise
  More homeowners falling behind on their mortgage payments.
• Bush, Paulson Unveil Mortgage Rescue Plan
  Qualified borrowers could get five-year rate freeze.
• Congress Calls Out Credit Card Companies
  Rate increases, universal default decried; legislation threatened.
• National Home Values Fall in Third Quarter
  Largest quarterly drop in 25 years; West Coast hardest hit.
• Feds Propose New Rules for Credit Bureaus
  Rules proposed for disputing bad information directly with lenders.
• Social Security Errors Common
  Consumers should carefully review their annual statements.
• Dodd Announces Bankruptcy Reform Legislation
  Bill would undo 2005 industry-sponsored changes.
• Mayors Warn Homes Could Lose $1.2 Trillion In Value
  Subprime meltdown has 'massive' effect on metro areas.
• Keeping Santa Solvent
  Tips to help you survive the holiday shopping season with finances intact.
• Gift Cards Include Hidden Costs
  Report picks best & worst of this year's batch.
• Chase to Stop Raising Interest Rates Based On Credit Reports
  'Clear and simple' program debuts next year.
• Housing Woes Bring More Doom, Gloom
  Stocks tank after negative business, homebuilder assessments.
• Subprime Foreclosures Causing Ripple Effects
  Report finds major impacts on property values, tax revenues.
• College Students Warned Against Credit Card Trap
  Cards promoted heavily to students but hazards outweigh benefits.
• Wells Fargo CEO Invokes Specter Of Great Depression
  Many more foreclosures lie ahead as higher interest rates kick in.
• Consumer, Poverty Groups Oppose Predatory Mortgage Bill
  Measure leaves homeowners worse off, they charge.
• Canadians Crushed By Credit Card Debt
  Loonie soars but so does unsecured debt.
• Foreclosures Spike in More Metro Areas
  Stockton, Detroit, Riverside have highest foreclosure rates.
• Mortgage Crisis Deepens At Countrywide, E-Trade
  Analysts warn E-Trade may not survive the subprime meltdown.
• Tweaking Bankruptcy Law Could Reduce Foreclosures
  Homeowners missing protection now afforded boat owners.
• High-Fee, Low-Credit Charge Cards Prey Upon the Poor
  Feds override state consumer protection laws.
• House Committee Passes Mortgage Reform Bill
  Bill aims to save homeowners from foreclosure.
• Debt Collector Pays $1.3 Million to Settle FTC Charges
  LTD Financial Services abused, misled consumers.
• Maryland Shutters 'Investment Firm' Amid Fraud Charges
  Victims lost more than $50 million in Ponzi scheme.
• New York Sues WaMu and its Appraisers
  Companies conspired to inflate appraisals, suit charges.
• Consumer Energy Costs Skyrocketing
  Poll shows strong support for Congressional action.
• Fed Votes To Cut Interest Rates Again
  Housing slump blamed for slow economic growth.
• Home Prices Sink Deeper
  Twenty areas report lowest annual returns ever.
• Money Market Funds: No-Brainer, or No Brains?
  Be careful! Not all funds are insured.
• Existing Home Sales Crater In September
  Sales plunged 8 percent as subprime meltdown worsened.
• Bill in Congress Takes Aim at Lenders
  Barney Frank's bill would allow embattled homeowners to sue their mortgage lenders.
• Countrywide Tries to Stem Foreclosures
  Lender throws lifeline to homeowners facing rate boosts.
• New Hampshire Charges Ameriprise with Fraud
  Company faces penalties, restitution of $10 million.
• Feds Gloomy as Mortgage Meltdown Continues
  Big banks organize effort to contain the damage.
• September Foreclosures Double Year-Ago Levels
  Defaults driven by higher payments on adjustable-rate loans.