Consumer credit surges on student and auto loans

Americans have recently shown signs of becoming more interested in dealing with debt after eschewing it during the recession, and that trend continued in December 2011. The total amount of debt carried by consumers rose 9.3 percent in December, increasing nearly $19 billion, according to the latest monthly statistics from the Federal Reserve Board. The […]

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American Express stepping up card issuing

One of the nation's top credit card lenders has in recent months increased the number of accounts it offers to consumers, and some of the most common offerings are for accounts that come with annual fees attached. American Express' issuing efforts have increased considerably, and because the company is more accustomed to pursuing affluent customers, […]

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Bernanke speech highlights issues with tight lending

In a speech at the National Association of Home Builders International Builders' Show, Federal Reserve Chairman Ben Bernanke highlighted a lack of mortgage credit as a factor in the slow economic recovery. Bernanke said that in past economic recoveries, the housing sector has led the way in helping improve employment and boosting incomes. But that […]

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White House launching new foreclosure assistance plan

As part of an effort to help more Americans stay in their homes, the Obama administration is trying to launch a new assistance program that will give financially troubled homeowners more options for keeping their property. President Barack Obama's State of the Union address earlier this month outlined the mortgage plan, which includes a Homeowner's […]

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Visa surpasses 1 million EMV cards

The world's largest processor of debit and credit card payments recently announced that it now has more than 1 million next-generation cards in circulation nationwide. Visa recently said that it has helped various financial institutions in the U.S. to issue more than 1 million of its branded "chip and pin" credit cards (also known as […]

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American Express increases rewards for some borrowers

Consumers who have a travel rewards credit card issued through the Pentagon Federal Credit Union will, for a limited time, be able to earn additional points for certain types of spending. American Express recently announced that consumers who carry its PenFed Premium Travel Rewards Card will be able to earn three points per dollar spent […]

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Treasury Secretary says financial reform working

While candidates to be the Republican nominee for president in the upcoming election  have railed against the financial reforms passed in the last few years, U.S. Secretary of the Treasury Timothy Geithner recently came out in support of the legislation. In a statement, Geithner said that lawmakers who want to reverse reforms, or otherwise work […]

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More lenders now using social media

In recent months, several of the nation's largest credit card lenders have launched significant forays into the world of marketing through social networks. American Express now has its "Link, Like, Love" promotion that allows users to share information about items they plan to purchase, and Citi recently created its own Facebook application that allows friends […]

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MasterCard-branded plastic getting more use

Profits for the world's second-largest processor of debit and credit card payments surged in the fourth quarter of last year as consumers spent more on those accounts. MasterCard recently reported that it saw its fourth-quarter profit climb 24 percent as the number of credit and debit card purchases it processed worldwide leapt to 7.7 billion […]

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Citi retools iPad app

One of the nation's top credit card lenders recently relaunched an application for the iPad that is designed to help users get a better handle on their accounts. Citi recently unveiled the latest version of its app for the iPad, which allows consumers to visually track their credit card accounts and utilize account analysis tools […]

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