Lenders Lovin the Current Economy as Consumers Pay on-Time – Storm Clouds Gather

Americans are mostly paying their credit card accounts, auto loans and mortgages on time this year. However, with rising interest rates, increasing inflation, overpriced stocks and a possible overdue recession looming, there are concerns the party could end by 2020.  According to the S&P/Experian July Consumer Credit Default Indices the bank card default rate dropped…

CFPB Consumer Protections OK Despite Mulvaney Damage

Another Trump appointed Devos-like moron is under consideration to run the Consumer Financial Protection Bureau (CFPB). Kathy Kraninger knows nuttin about protecting consumers in the financial marketplace. Illegally appointed Mick Mulvaney, interim CFPB director, tried to wreck the CFPB by: • announcing its intention to reconsider and delay its payday lending rule. • dropping its…

Debt Collectors Provoke the Most Ire of American Consumers

The top five types of complaints reported by U.S. consumers to the Consumer Financial Protection Bureau (CFPB) include: debt collection, mortgages, credit reporting, credit cards, and bank accounts or services. The CFPB has handled more than 1 million complaints since 2011 from all 50 U.S. states and D.C.  Here is the Top 5: 1. Debt…

Sharpen Your Financial Focus Initiative Snags Major Funding

Wells Fargo is ponying-up $1 million of exclusive support to the National Foundation for Credit Counseling (NFCC) in support of the Sharpen Your Financial Focus (Sharpen) initiative.  The Sharpen program helps consumers address their primary financial challenges through targeted education and counseling. The program is available in English and Spanish and consists of the following:…

Discover: More Than a Great Credit Card & App – a Great Bank Too

Discover is not just among the most beloved credit cards in the nation, it is also ranked second-highest in customer satisfaction among nine U.S. direct banks. Discover Bank recently received 869 points out of a possible 1,000 in J.D. Power’s first Direct Retail Banking Satisfaction Study.  The main survey factors were Channel Activities, Products and…

Consumers Still Want to Hug a Fat Friendly Banker When Inking a Mortgage

Most Americans agree while they use online resources for research, they prefer to apply for a mortgage in person. Consumers also indicated, though, that mobile or online services are important when it comes to obtaining a mortgage or making mortgage payments. Sixty-one percent of respondents consider mobile and online services very important or somewhat important,…