May 19 Why Are Credit Card Companies Raising Rates on Good Borrowers? Question: My wife’s credit card has been paid off in full, every month, for at least 10 years running (since we have been married). In fact, there usually is a 2-3 dollar “credit” balance every month. (I always round up… Continue reading
May 14 Watch Senate Moves Closer to Reining in Credit Card Companies The Senate neared approval Thursday of a bill to rein in credit card companies, which could mean new rules will be in place by early next year. Ray Suarez reports. Continue watching
May 12 Who Owns the Credit Card Companies? Question: Who owns the credit card companies? Once upon a time, Bank of America owned Visa, but I’m not sure if it’s been spun off. So, if the stress tests have shown that the banks are not as healthy as… Continue reading
May 01 Watch For Those With Low Incomes, Help Creating a Credit History Spencer Michels reports on a program that helps low-income people with no credit gain access to loans and financial counseling. Continue watching
Apr 30 Watch Other News: House Advances Credit Card Regulations; U.K. Troops End Iraq Mission In other news, the House voted overwhelmingly to rein in credit card companies, and the Senate defeated a measure to give homeowners relief in federal bankruptcy court. In Iraq, British troops handed command of Basra to U.S. forces. Continue watching
Apr 23 Watch Obama Calls for Reform of Credit Card Practices President Barack Obama put his support Thursday behind a credit card law that will regulate the sudden rate increases and late fees that cause financial trouble for millions of consumers. A financial reporter mulls the state of U.S. credit and… Continue watching
Mar 05 What Would Happen if Washington Let Big Banks Fail? By Business Desk Question: What would happen if the government let Citibank and Bank of America, et al., just fail? Paul Solman: The possibilities are various, intriguing, and terrifying. Let’s say Citi goes under. The government has to honor all of the company’s… Continue reading
Feb 13 Should the Government Give Money to Consumers to Pay Off Credit Cards, Mortgages? Editor’s Note: Paul recently answered “Five Good Questions” on the economy for the PBS Engage blog. You will also be able to find those answers here on the Business Desk all week. Question/Comment:… Continue reading
Dec 16 Watch Fed Employs Bold Rate Cut to Boost Economic Growth The Fed slashed the target for a key interest rate to a record low of zero percent to a quarter point on Tuesday. Financial analysts examine the possible impact of the Fed's move. Continue watching
Aug 18 Watch Americans’ Reliance on Credit Leads Many Into Debt The ease with which Americans can make purchases using credit cards and loans has led to increased personal debt. Jeffrey Brown speaks with Stuart Vyse, author of "Going Broke: Why Americans Can't Hold On To Their Money," about the roots… Continue watching