A new report by the Urban Institute and Encore Capital Group's Consumer Credit Research Institute shows 77 million Americans -- 35 percent of those with files at a major credit bureau -- have a debt in collection. But as you can expect, there is always someone profiting from poverty.
There are many who want the government to play a rule in reducing inequality. That might be a desirable goal. However a higher priority would be to have the government stop playing a role in increasing inequality as it does with its support for the financial industry.
I was well into my college career when I actually learned what investment banking was. A friend of mine told me he wanted to essentially sacrifice t...
Barack Obama's Justice Department on Monday announced that Citigroup would pay $7 billion in fines, a move that will avoid a humiliating trial dealing with the seamy financial products the bank had marketed to an unsuspecting public, causing vast damage to the economy.
Elizabeth Warren and John McCain aren't often on the same side of a debate in Washington. But the freshman Democratic senator and the veteran Republican lawmaker do agree that banking should be simpler and safer.
Instead of privatizing the post office, there may be a better way to raise revenue for the post office by providing financial services for many who need access to credit and short-term capital.
American capitalism is fully functional only when there is full employment. Any restriction to this primary and mandatory factor to our economy, lessens our stability as a country and is an overt danger to every American.
North American banks that don't clue in that their competitors now include companies like PayPal, T-Mobile and even the US Postal Service could be fac...
In recent years, credit unions have been broadening their Field of Membership qualifications, making it easier for interested individuals to join. Are there truly credit unions that offer access for all?
Due to a sudden, unnecessary and -- most of all -- discriminatory change in bank policy, Iranians and Iranian Americans across the country suddenly try to use their debit cards to make a purchase or withdraw money from an ATM, only to find that their accounts have been frozen effective immediately.
Regardless of one's personal views about either adult movies or their performers, one must wonder whether JPMorgan Chase, which reportedly paid more than $20 billion in penalties and settlements in 2013 alone, might have more important things to do, like cleaning up its own financial house.
Without any doubt in this moment we can not talk about the dollar but about the "energo dollar" or "petrodollar," currencies that are not within reach of the common people which ultimately bring prosperity.
Warren knows from experience and writes with warmth that every day in America there are boys and girls asking moms and dads why the family car is gone, why the family home was taken away, why Mom or Dad has lost a job, and why so Americans live from paycheck to paycheck, desperately struggling to make ends meet.
This week, SunTrust Bank will join some of the other big banks in making it more expensive for customers to use an out-of-network ATM. Other things to...
At the moment, it seems Fannie Mae and Freddie Mac are doing their job just fine. They are issuing mortgage-backed securities (MBS) that include more than 60 percent of new mortgages. Interest rates on mortgages are low and both companies are making substantial profits that are refunded to the government. Why is there any need to overhaul this system? The financial industry is of course unhappy with this situation. It sees the money being earned by Fannie Mae and Freddie Mac as money that could be going into its pockets. Of course, there is nothing that prevents Goldman Sachs, Citigroup, and the rest from going out and issuing their own MBS right now. The problem is that they have a really awful track record. Remember the financial crisis? And of course it is especially hard for them to compete with two relatively efficient government-run issuers like Fannie and Freddie.