Financial News

Universal Default Clauses Weakening

[November 26, 2007]
Credit card issuers preempt congressional action by ending universal default practices.

Credit Card Issuers Thrive in the Face of Subprime Mortgage Collapse

[September 5, 2007]
Credit card issuers actually are trying harder to market to those more likely to contend with foreclosure.

Credit Bureaus End Authorized User Piggybacking

[June 26, 2007]
FICO decided to update credit formulas used by credit bureaus to end perceived abuses known as authorized user leasing.

IRS Approves Tax-Exempt Status for Vision Credit Education

[January 11, 2007]
The IRS determined that the activities of Vision Credit are charitable and has thus approved our application for tax-exempt status!

Student Loan Interest Rates Set to Increase

[May 31, 2006]
Student loans are about to become more expensive, as interest rates are reset on July 1.

Payday Lenders Booted from North Carolina

[May 25, 2006]
With interest rates approaching 400%, payday lenders in violation of state usury laws have been kicked out.

IRS Revokes Exempt Status for Credit Counseling Agencies

[May 15, 2006]
Many of these companies pressured clients to buy debt management plans and failed to provide adequate advice and thorough counseling.

Spike in ARM defaults expected within next two years

[April 28, 2006]
ARMs have never been more popular. As rates increase and monthly payments jump, many homeowners will find they can no longer afford the payments.

North Carolina Saves announces 2,000 Savers have joined statewide campaign

[April 25, 2006]
Savers have committed to increase their savings as a part of statewide campaign led by NC State Treasurer Richard Moore.

Credit bureaus announce new credit scoring model

[March 14, 2006]
VantageScore may replace the current FICO based scoring models used by the three main credit bureaus.

Higher Minimum Payments Squeeze Consumers

[March 2, 2006]
A mandate from the Comptroller of the Currency has caused credit card companies to change the way minimum payments are calculated. Some consumers will see their credit card minimum payments double.

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