A year ago this month the U.S. Department of Justice announced that the banking giant JPMorgan Chase would avoid criminal charges by agreeing to pay $13 billion to settle claims that it had routinely overstated the quality of mortgages it was selling to investors.
I've written thousands of articles about credit reporting and credit scoring over the past decade. At this point in my career it's pretty difficult to come up with a topic about which has never been written by me or any other credit authors, but I think I've got one.
The headlines are stark when it comes to the retirement of Americans. One quarter of those 50 to 64 have not saved a penny, and 14 percent of those 65 and older are in the same predicament.
The nation's largest banks and debt collectors are worried that if you learn what people are saying about them, you might like them less. And that wouldn't be fair, they say.
Almost a year ago, The Economist calculated the cost to the big banks of Financial Crisis litigation at that time at nearly $100 billion.
Markets for financial services often don't work well for consumers. The trial and error technique that consumers rely on in navigating many markets, such as food and clothing markets, does not work well when transactions are large and infrequent.
If you're at all a follower or observer of international headlines, you'll agree that that global unrest is increasing ...
Recent research about student loans and mortgages raises the question of whether having too much debt can make you sick.
Have you ever taken out a loan from a mortgage company or bank only to find out a few months down the road that it's been sold? Don't be surprised if this happens to you -- multiple times -- because it's common that lenders sell mortgages.
In mid-July, Citigroup agreed to pay $7 billion for what the U.S. Department of Justice (DOJ) called "egregious misconduct" related to its handling of subprime mortgages and mortgage securities in the run up to the financial crisis. This was not a singular result. It is part of a trifecta.