New research shows that lenders are loosening their standards for auto loans for people with damaged credit, but this is better news for lenders than it is for borrowers — or auto companies.
Banking
After the Occupation: We Hate Mega-Banks But Still Use Them
Anger against mega-banks brewed for most of last year, coming to a head with the Occupy Wall Street protests and fueled by banks’ unpopular (and short-lived) efforts to charge people for using their debit cards. People claimed …
Banks’ Overdraft Policies Are Getting More Confusing
Last week, JPMorgan Chase & Co. announced that it’s eliminating overdraft fees on purchases of $5 or less. Also this month, regional banks Fifth Third and U.S. Bank are raising their overdraft fees for multiple overdrafts and …
The Barclays LIBOR Scandal Is a Clear Case for Greater Consumer Protection
When it comes to managing personal financial affairs, there is only so much an individual can know. For years, the financial literacy movement missed that.
How Smart Phones Are Changing the Way We Bank, Drive, Have Sex and Go to the Bathroom
“Smartphonatics” are changing the way we bank and play. And while smart phones are making a lot of things easier, in many contexts they are the source of gross distraction and rude behavior
Study: Banks Still Doing a Crummy Job Disclosing Fees Even as They Raise Them
In an extensive study last year, the Pew Charitable Trusts found out what many Americans who’ve been zapped by overdraft fees or frustrated trying to understand fine print already knew: Big banks make it difficult for their customers to figure out exactly when and how much they’ll be charged in fees.
Now, in a follow-up report that …
Does Financial Education Work? Clinton Global Initiative and PwC Bet $160 Million That It Does
The financial literacy movement is getting a valuable boost. At the second gathering of the Clinton Global Initiative America, which runs today and Friday in Chicago, the accounting giant PwC will unveil a $160 million campaign …
It’s No Coincidence That Changing Banks Is a Huge Pain in the Butt
Planning to switch banks? Hope you have a bottle of aspirin handy because, odds are, the bank is going to do everything it can to keep you around, and that adds up to a major migraine for you. A new report documents all the roadblocks banks throw up to keep their customers from leaving, from charging you money to generating as much …
ATMs with a Human Touch: How New ATMs May Replace Bank Tellers
ATMs are getting a new face — literally, a human face. Some bank customers are already encountering what might be called ATM cyborgs, in which a machine includes a screen showing a bank teller’s head. The teller, in a remote …
Should You Get a Prepaid Debit Card?
There’s no question anymore: Prepaid debit cards have shifted from the fringe to the mainstream. The tipping point was Tuesday, when JPMorgan Chase & Co. announced a pilot program to launch a prepaid debit card called Liquid. …
Alumni Credit Card? First, Lose the Greedy Pitch
Colleges are slamming graduating students with credit card offers that sound sincere but amount to a hard sell. Yes, the right card will help build a good credit score. But watch out for the accompanying advice on how to go about it.
How an Ad Will Persuade You to Talk to Your Kids About Money
Coming soon to a magazine, newspaper or Web page near you: emotionally charged public-service messages designed to jolt parents into having “the talk” with their kids. Not that talk. The tougher one about how to budget, save and …