2011 News Archive

December 2011

Consumer spending modest during November

Dec 30, 2011 |

The nation's economic recovery continues to move at a slow but steady rate, as according to the Commerce Department, consumer spending notched up slightly higher in November from October.

Category icon Financial Wellness, Holidays

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Consumer sentiment grows during end of 2011

Dec 28, 2011 |

As 2011 winds down, consumer confidence is on the rise, according to the latest data from the consumer sentiment index for November, signaling a recovery.

Category icon Financial Wellness

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Ring in the New Year with Style and Under Budget!

Dec 28, 2011 |

Consolidated Credit offers 5 smart New Year's planning tips to help consumers avoid building up big credit card debt caused by holiday overspending.

Category icon Company News, Financial Wellness, Holidays

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Personal Stories of Conquering Debt: 15th Annual Story Contest Winners Announced

Dec 27, 2011 |

Three winners told Consolidated Credit Counseling Services, Inc. about their personal journeys of "Divorce with Five Children to Financial Independence," "How to Pay-off $28,000 of Credit Card Debt and Keep a Great Credit Score," and "Surviving a Layoff w

Category icon Company News, Financial Wellness

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Few consumers knowledgeable about credit score details

Dec 27, 2011 |

Many U.S. consumers don't know what goes into their credit scores, a survey by FreeScore.com reveals, while a hefty number of Americans 18 years and older worry about debt regularly.

Category icon Credit Score, Financial Wellness

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New service uses social networks to assess creditworthiness

Dec 22, 2011 |

Though the practice is still a few years from commonplace, at least one credit scoring agency is using social networks to determine their credit standing.

Category icon Credit Cards, Credit Score, Financial Wellness

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CFPB Ombudsman’s office open for business

Dec 21, 2011 |

When Americans call the CFPB to file predatory lending practice complaints, they can rest assured their concerns aren't getting lost in a file somewhere.

Category icon Consumer Rights, Credit Cards

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Senate pushes back approval of CFPB head

Dec 20, 2011 |

Despite a push to confirm the top position in the federal government's consumer protection agency, Senate Republicans delay the decision until January.

Category icon Consumer Rights, Credit Cards

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Credit card lending expected to increase

Dec 19, 2011 |

Consumers continue to make improvements in the way they handle credit card debt, and experts believe it could prompt lenders to grant more new cards.

Category icon Credit Cards, Financial Wellness

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Debt collection agency complaints racking up

Dec 16, 2011 |

The number of consumers who are filing complaints with the Federal Trade Commission regarding improper practices by debt collection agencies is surging.

Category icon Consumer Rights, Debt Collection

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Citi to expand retail card business

Dec 15, 2011 |

In recent months, consumers making purchases at major retailers might have noticed they're being hounded to open store credit card accounts. Here’s why.

Category icon Banking, Credit Cards

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CFPB seeking consumer comment on disclosures

Dec 14, 2011 |

As part of its ongoing efforts to create better credit card safeguards for consumers, the new government agency tasked with protecting Americans financially is asking for help from cardholders.

Category icon Consumer Rights, Credit Cards

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Many consumers not claiming credit card rewards

Dec 13, 2011 |

Most of the nation's top creditors are being more generous about granting points, miles or cash back, but borrowers are not taking advantage of rewards.

Category icon Credit Cards, Financial Wellness

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New poll finds more shoppers eschewing credit cards

Dec 12, 2011 |

A new poll finds that the number of people who plan to take on credit card debt for gifts in the two weeks prior to Christmas is shrinking.

Category icon Banking, Credit Cards, Housing

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CFPB creating simplified credit card form

Dec 09, 2011 |

A prototype of a simplified credit card agreement form was unveiled by the Consumer Financial Protection Bureau, which the agency created to make the documents easier for consumers to understand.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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U.S. consumers borrowed more in October

Dec 08, 2011 |

The amount of money consumers borrowed in the month of October rose across all loan types to highs not seen in two years.

Category icon Banking, Credit Cards, Financial Wellness

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Tips for the Unemployed to Survive the Holiday Season

Dec 07, 2011 |

Consolidated Credit offers practical ideas and tips for the unemployed to get through the holidays without going into debt and facing financial distress.

Category icon Employment, Holidays

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Are low credit scores hurting the housing recovery?

Dec 07, 2011 |

The housing market has been slower to recover than other parts of the economy, and some experts believe the cause is historically low credit scores.

Category icon Credit Score, Housing

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Americans planning to take advantage of Balance Transfer Day

Dec 06, 2011 |

Millions of Americans struggling to reduce debt and regain financial control may benefit from being able to transfer credit card debt to new accounts.

Category icon Credit Cards, Financial Wellness

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CFPB: Billing disputes, interest rates top complaints from cardholders

Dec 02, 2011 |

Consumers complained about a variety of issues they have with credit card issuers to the CFPB, with interest rate and billing disputes topping the list.

Category icon Consumer Rights, Credit Cards

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Black Friday credit card use spiked

Dec 01, 2011 |

Consumers turn to credit to finance holiday gift purchases on Black Friday, causing a spike in credit card debt at the start of the shopping season.

Category icon Banking, Credit Cards, Holidays

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November 2011

Consumers will shift to credit this holiday season

Nov 30, 2011 |

With the holiday shopping season in full swing, many consumers are in need of ways to finance gift purchases and other expenses as they’re over-budget.

Category icon Banking, Credit Cards, Holidays

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Consumer debt dropped in third quarter

Nov 29, 2011 |

In keeping with recent trends, the amount of debt carried by consumers on all their various household accounts fell once again in the third quarter of the year, though it did so only slightly.

Category icon Debt Relief

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Rewards strong for borrowers with good credit

Nov 28, 2011 |

Americans who have worked hard to maintain strong credit ratings may find credit card offers with more generous rewards programs in their mailboxes.

Category icon Credit Cards, Credit Score, Financial Wellness

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Credit card lending expanded significantly

Nov 23, 2011 |

The amount of new credit cards issued during the first eight months of the year grew significantly, as consumer debt approaches pre-recession levels.

Category icon Credit Cards, Financial Wellness

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Cash back offers beefed up for holidays

Nov 22, 2011 |

Lenders attempt to take advantage of the consumer trend of running up debt and spending more in the two or three months leading up to the holiday season.

Category icon Banking, Credit Cards, Holidays

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Will Holiday Shopping Prompt Credit Card Usage?

Nov 21, 2011 |

Creditors entice consumers to use credit cards for holiday shopping with better incentives, but will it work? Consolidated Credit gives tips using credit cards this season without adding debt.

Category icon Banking, Credit Cards, Holidays

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Chase continues rush to issue new credit cards

Nov 21, 2011 |

The nation's top lenders have begun issuing a new type of credit card to customers to improve their ability to make purchases when traveling overseas.

Category icon Banking, Credit Cards

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Credit card use leads to more purchases, better feeling

Nov 18, 2011 |

One problem many consumers may face these days is that they spend a little more than they should when using their credit cards, but now new research shows that's more that natural.

Category icon Banking, Credit Cards, Financial Wellness

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More Americans warming to credit cards again

Nov 17, 2011 |

Millions of Americans have returned to using their credit cards after largely eschewing the practice during and in the immediate wake of the recession.

Category icon Credit Cards, Financial Wellness

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Credit card charge offs hold steady

Nov 16, 2011 |

The rate of consumers falling behind on credit card payments far enough that their accounts had to be stricken from lender records held steady in October.

Category icon Banking, Credit Score

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Credit card delinquencies tick upwards in third quarter

Nov 15, 2011 |

The number of credit card delinquencies nationwide ticked upwards in the third quarter of the year, but not enough to pull away from near-record lows.

Category icon Banking, Credit Cards

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Rewards offers more valuable for those with excellent credit

Nov 14, 2011 |

The nation's top credit card lenders are now in greater competition for borrowers with the best available credit ratings, expanding rewards programs.

Category icon Credit Cards, Credit Score

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Group questions lender acquisition

Nov 11, 2011 |

A proposed deal between two of the nation's largest credit card lenders for a credit portfolio sale is now being called into question by consumer groups.

Category icon Banking, Consumer Rights, Credit Cards

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Credit card use grew again in October

Nov 10, 2011 |

As the financial effects of the recent economic downturn continue to ebb for many consumers, a large and growing number are once again using their credit cards.

Category icon Credit Cards, Financial Wellness

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Lenders boosting rewards rates for holidays

Nov 09, 2011 |

Every holiday season, consumers make more purchases on credit because they need more spending flexibility while purchasing gifts for friends and family.

Category icon Banking, Credit Cards, Holidays

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Consolidated Credit Offers 6 Tips to Cut Thanksgiving Costs and Stress

Nov 08, 2011 |

With American households gearing up to celebrate Thanksgiving, the money experts at Consolidated Credit offer 6 insightful tips to cut stress and costs.

Category icon Budgeting, Holidays

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Consumer credit rises as credit card use falls

Nov 08, 2011 |

The amount of money consumers borrowed overall increased in September, even as their credit card debt continued to decline for the third consecutive month.

Category icon Credit Cards, Financial Wellness

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Many credit card users still having trouble overseas

Nov 07, 2011 |

The little black magnetic strip on the back of nearly every credit card ever issued in the U.S. may be a problem for consumers who want to use their accounts when they travel abroad.

Category icon Banking, Credit Cards, Travel

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Consumer credit card issuing climbs again

Nov 03, 2011 |

The amount of credit cards carried by consumers across the country rose dramatically in September, and with it credit card balances increased, as well.

Category icon Credit Cards, Financial Wellness

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Mobile credit card apps growing in popularity

Nov 01, 2011 |

As mobile technology continues to be adopted by more consumers, a greater number of smartphones applications are focused banking and credit card accounts.

Category icon Banking, Credit Cards

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President Obama Unveils Student Loan Debt Plan That Will Help Millions

Nov 01, 2011 |

New student loan program should offer debt relief by capping payments at 10 percent of discretionary income, but is it enough to help people?

Category icon Financial Wellness, Student Debt, Young Consumers

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October 2011

Visa testing out new credit card designs

Oct 28, 2011 |

Credit card lenders and issuers are always looking for ways to make these accounts more secure, and now the world's largest payment processor may have come up with a new way to do so.

Category icon Credit Cards

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Debit fees not expected to alter card use

Oct 27, 2011 |

Consumers are unhappy with proposed bank account changes that would add monthly fees just for using debit cards, but would it change our spending habits?

Category icon Credit Cards, Financial Wellness

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Consumers will switch banks over added fees

Oct 26, 2011 |

The controversial new fees being added by banks for debit card accounts will likely lead to a large number of consumers switching to different, less expensive financial institutions.

Category icon Banking, Consumer Rights

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Credit card purchases used to create targeted ads

Oct 25, 2011 |

If the world's two largest payment processors have their say, consumers' credit card purchases may soon be used to create targeted online ads.

Category icon Banking, Credit Cards

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Lenders sweetening credit card rewards

Oct 24, 2011 |

Consumers looking to obtain a rewards credit card will likely find doing so is now easier and more beneficial to get approved than it was in the past.

Category icon Banking, Credit Cards

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Greater credit card security being rolled out

Oct 21, 2011 |

For decades, nearly every credit card ever issued in the U.S. has featured the same type of security, but now many of the nation's top lenders are looking to upgrade.

Category icon Banking, Credit Cards

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Consumers cashing in on generous travel credit card offers

Oct 20, 2011 |

The nation's top credit card lenders have recently begun trying to lure clients with the use of increased introductory bonuses for rewards credit cards.

Category icon Credit Cards, Travel

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Google expands mobile payment system

Oct 19, 2011 |

Google recently launched a mobile payment system, which allows consumers to use certain types of smartphones to make purchases with credit card accounts.

Category icon Banking, Credit Cards

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On-time credit card payments less common in September

Oct 18, 2011 |

The number of consumers who were able to pay their credit card bills on time dropped for five of the nation's six largest credit card lenders in September.

Category icon Banking, Credit Cards

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Credit card delinquencies expected to rise again

Oct 17, 2011 |

Over the past year, the nation's top credit card lenders have seen rates of delinquent and defaulted credit card debt decline. Will the trend continue?

Category icon Credit Cards, Financial Wellness

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Lenders trying to incentivize credit use after debit changes

Oct 14, 2011 |

With restrictions to limit the amount that can be charged businesses for processing debit transactions, lenders push consumers toward credit card use.

Category icon Banking, Credit Cards

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American Express seeks to expand mobile capabilities

Oct 13, 2011 |

One of the nation's largest credit card lenders is now looking to expand its presence in the mobile payments world, and is seeking help to do so.

Category icon Banking, Credit Cards

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Don’t Let A Tough Economy Spook Your Spending This Halloween

Oct 12, 2011 |

Many parents like to dress up their kids on Halloween but costumes can also come at an expensive price tag. Read our money saving tips to save on costumes, candy, decorations and more.

Category icon Budgeting, Family, Holidays

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More lenders targeting subprime borrowers again

Oct 12, 2011 |

As banks continue their efforts to try to lure more customers into opening accounts, many are now turning in greater numbers to those consumers who have subpar credit ratings.

Category icon Banking, Credit Score

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Banks increasing zero percent offers

Oct 11, 2011 |

The nation’s top lenders lure consumers with strong credit ratings but high debt, offering attractive 0% APR introductory rates on balance transfers.

Category icon Banking, Credit Score

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Consumer credit fell in September

Oct 10, 2011 |

The amount of debt currently outstanding across the country declined significantly in September, largely as a result of consumers paying off more of their installment loans.

Category icon Credit Cards, Financial Wellness

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Chase rebuilding credit card arm

Oct 07, 2011 |

Though it has the second-largest credit card lending business in the nation, JPMorgan Chase is now attempting to rebuild the way it deals with customers.

Category icon Banking, Credit Cards

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Consolidated Credit Consumer Alert

Oct 07, 2011 |

The new reduction plan may allow debt collectors pursuing government backed debt to contact people via their cell phones in hopes to increase revenue for the federal government.

Category icon Consumer Rights, Debt Collection

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Consumers continue to open new credit card accounts

Oct 06, 2011 |

Many consumers continued to open new credit card accounts in the first half of the year, maintaining a trend established around the end of the recent national recession.

Category icon Credit Cards

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Geithner vows bank changes won’t last

Oct 05, 2011 |

Consumers nationwide are dismayed at proposals for increased banking fees, but one high-ranking government official has vowed the changes won't last.

Category icon Banking, Consumer Rights

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Retailers to tackle credit card fees next

Oct 04, 2011 |

The retail industry picked up a win, as the federal government instituted a cap on the amount payment processing companies can charge for debit purchases.

Category icon Banking, Consumer Rights, Credit Cards

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Swipe fee limit hailed by lawmaker

Oct 03, 2011 |

The new limit on the amount payment processing networks can charge to businesses for processing swipe fees is now in effect.

Category icon Banking, Consumer Rights, Financial Wellness

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September 2011

Judge rules in favor of bank over credit card fees

Sep 29, 2011 |

In a recent lawsuit over the way banks are allowed to charge fees to certain consumers for opening credit cards, a judge has sided with a major bank.

Category icon Banking, Consumer Rights, Credit Cards

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Credit card security still lacking

Sep 28, 2011 |

Consumers' credit card information may be at risk for being exposed in data breaches because businesses are struggling to keep up with minimum protection standards.

Category icon Credit Cards, Financial Wellness, Identity Theft

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Consumers upset about new debit card fees

Sep 27, 2011 |

Heavier regulation from the federal government, has led banks of all sizes to institute new fees for services that used to be provided free of charge.

Category icon Banking, Consumer Rights

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Businesses can expect higher processing fees

Sep 26, 2011 |

Federal laws have severely restricted what card processing companies can charge for debit transactions, as a result costs for credit purchases may rise.

Category icon Banking, Credit Cards

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Rewards cards bonuses increasing

Sep 23, 2011 |

Perhaps in an effort to drive consumers to accumulate more credit card debt, many lender are now offering greater rewards than ever on new accounts.

Category icon Banking, Credit Cards

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Credit card defaults tumbled considerably in August

Sep 22, 2011 |

The rate at which consumers fell so far behind on their credit card payments that the accounts were written off as uncollectable fell once again in August.

Category icon Credit Cards, Financial Wellness

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Google Wallet officially introduced

Sep 21, 2011 |

While Google officially announced the concept of its mobile credit card purchasing system earlier this year, the company is now officially rolling out the program in select cities.

Category icon Banking, Credit Cards

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Fewer Americans have more debt today

Sep 20, 2011 |

While some Americans say they are now carrying more debt than at the same time last year, the number hit its lowest point since April 2009.

Category icon Debt Relief, Financial Wellness

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Mobile payments may help consumers rein in spending

Sep 19, 2011 |

Consumers who have expressed wariness of adopting mobile credit card purchasing programs may now be given a greater reason to do so: it may help them save money.

Category icon Banking, Credit Cards, Financial Wellness

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MasterCard to focus on affluent borrowers, emerging payment methods

Sep 16, 2011 |

As regulations cut revenues for credit card payment processors, the world's second-largest processor shifted to promoting products for the wealthy.

Category icon Banking, Credit Cards

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American Express to expand mobile and online offerings

Sep 15, 2011 |

In the ongoing push to expand operations, the nation's largest credit card lender is investing in foreign businesses and U.S. startups for mobile tech.

Category icon Banking, Credit Cards

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Discover charge offs fall to another low

Sep 14, 2011 |

The amount of credit card accounts one of the nation's largest lenders had to write off as uncollectable fell in August, dropping to an all-time low.

Category icon Banking, Credit Cards, Financial Wellness

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Fall Financial Check-Up, Free Financial Help

Sep 13, 2011 |

Fall is here and now is the time for a financial check-up. Consolidated Credit Counseling Services provides financial help to consumers who are struggling with their personal finances.

Category icon Company News, Financial Wellness

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Credit card spending spiked in August

Sep 13, 2011 |

The back-to-school shopping season prompted Americans to begin using their credit cards again, leading to a surge in both transactions and purchase dollar volume.

Category icon Credit Cards, Financial Wellness

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Credit card charge offs climbed in August

Sep 12, 2011 |

After months of steep declines in the rate at which consumers fell several months behind on their credit card payments, the rate of charged off accounts ticked back up in August.

Category icon Credit Cards, Financial Wellness

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Consumer credit card debt drops for first time in months

Sep 09, 2011 |

The struggling job market and slumping consumer confidence may have been what led fewer Americans to take on credit card debt during the month of July.

Category icon Credit Cards, Financial Wellness

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Schools still rely heavily on credit card deals

Sep 08, 2011 |

Schools still rely heavily on credit card deals

Category icon Banking, Credit Cards, Family, Young Consumers

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Experts warn college kids against excessive credit card use

Sep 07, 2011 |

With many colleges starting in early September, many families may still be considering how best to give their kids some spending power while they're away at school.

Category icon Consumer Rights, Credit Cards, Financial Wellness, Student Debt, Young Consumers

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Banks still not relaxing lending standards

Sep 06, 2011 |

Although the economy continues to improve and consumers are back to borrowing responsibly, most credit card lenders have not eased their credit standards.

Category icon Banking, Financial Wellness

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Mobile shopping not catching on with consumers

Sep 02, 2011 |

Though many consumers now buy a large amount of items online every month, it seems that doing so using their mobile phones is still a concept with which they're not quite comfortable yet.

Category icon Articles

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Discover axes security feature

Sep 01, 2011 |

A program designed to help consumers across the country avoid fraud has been cut by one of the nation's top credit card lenders.

Category icon Banking, Credit Cards

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August 2011

Smartphone Users at Risk for Personal Information Theft

Aug 30, 2011 |

Smartphone users at risk for personal information theft - Consolidated Credit gives tips on how to protect yourself and your money.

Category icon Company News, Financial Wellness, Identity Theft

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Fight expected over digital wallet frontier

Aug 26, 2011 |

Two of the biggest players in the emerging world of so-called mobile wallet technology are likely to clash for market supremacy in the near future.

Category icon Banking, Credit Cards

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Business credit card rewards increasing

Aug 25, 2011 |

Even as credit cards for businesses are being criticized by some experts, a larger number of lenders are sweetening offers for opening this type of account.

Category icon Banking, Credit Cards

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More consumers handling credit cards better

Aug 24, 2011 |

Steep declines in credit card charge offs are often attributed to consumers getting locked out of the borrowing system by bad credit, but is it the case?

Category icon Credit Cards, Financial Wellness

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Bank of America, Chase have potential security flaw exposed

Aug 23, 2011 |

Consumers with credit cards issued by two of the nation's largest lenders may be at greater risk for identity theft as a result of a feature designed to be a convenience.

Category icon Banking, Credit Cards

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Charge offs increase industry-wide

Aug 22, 2011 |

The number of seriously delinquent credit card accounts nationwide rose very slightly in July, creeping up even as early-stage delinquencies continued to decline.

Category icon Credit Cards, Financial Wellness

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College students less eager to open credit card accounts

Aug 19, 2011 |

With millions of young adults about to head to college this fall, a large number are now concerned about the state of their finances and their future.

Category icon Banking, Credit Cards, Student Debt, Young Consumers

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Consumer credit card satisfaction up in 2011 over previous years

Aug 18, 2011 |

While a large number of Americans are dealing with more credit debt than they had during the previous several months, overall satisfaction has increased.

Category icon Credit Cards, Financial Wellness

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Consolidated Credit Advises Students to Review Costs

Aug 17, 2011 |

With tuition costs at an all-time high, many students are burdened by debt. Consolidated Credit offers tips to reduce the time it takes to pay off.

Category icon Company News, Financial Wellness, Young Consumers

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Bank of America, Citibank sees more charge offs in July

Aug 17, 2011 |

The rate at which two of the nation's largest credit card lenders were forced to write off credit card balances as being uncollectable rose in July.

Category icon Banking, Credit Cards

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Second-quarter credit card delinquencies hit 17-year low

Aug 16, 2011 |

The number of consumers who fell seriously behind on their credit card payments during the second quarter of the year slipped to a level not seen in 17 years.

Category icon Credit Cards, Financial Wellness

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Delinquent credit card payments ticked up in July

Aug 15, 2011 |

One of the nation's largest credit card lenders recently announced that it saw the rate at which consumers fell behind on their payments for the first time increased during the month of July.

Category icon Banking, Credit Cards

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New Bill Could Stabilize the Struggling Housing Market

Aug 15, 2011 |

Struggling homeowners in need of foreclosure prevention assistance could get relief with the new bill proposed by House Financial Services Committee.

Category icon Company News, Consumer Rights, Housing

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Nationwide credit card delinquencies continue to fall

Aug 12, 2011 |

The number of consumers who fell behind on their monthly credit card bills during the month of July continued to slide across the country, as well as in most of the 30 largest metropolitan areas.

Category icon Credit Cards, Financial Wellness

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T-Mobile purchase method not as secure as credit

Aug 11, 2011 |

One of the nation's top cellular providers has a plan to allow consumers to make purchases that are applied to a phone bill, but it may be problematic.

Category icon Banking, Credit Cards

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Visa puts greater emphasis on new credit card technology

Aug 10, 2011 |

While much of the world transitions away from the type of credit card familiar to most Americans, U.S. lenders have been less hasty to make the switch.

Category icon Banking, Credit Cards

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Consumers can expect higher credit card rates

Aug 09, 2011 |

A lower credit rating for the U.S. could lead to higher interest rates for credit cards and other loans, potentially causing consumer debt problems.

Category icon Credit Cards, Financial Wellness

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Google Wallet moves closer to reality

Aug 08, 2011 |

Companies in several industries are working together to promote widespread acceptance of mobile payments made with smartphones, including Google.

Category icon Banking, Credit Cards

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Take Advantage of Tax Holidays for Back-To-School Shopping

Aug 08, 2011 |

Consolidated Credit urges parents to take advantage of tax savings for back-to-school shopping. Use these tips to save on school supplies and clothing.

Category icon Company News, Family, Young Consumers

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California cracks down on illegal credit card charges

Aug 05, 2011 |

A number of businesses throughout California were recently charged with tacking a fee onto the purchases of consumers who opted to use their credit cards.

Category icon Consumer Rights, Credit Cards

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MasterCard sees profits spike

Aug 04, 2011 |

Profits for the world's second largest payment processing network rose considerably in the second quarter as consumers used its branded debit and credit cards more often.

Category icon Credit Cards, Financial Wellness

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Consumers concerned about their debt levels

Aug 03, 2011 |

While seemingly everyone in Washington is still concerned about the nation's debt level, the same is true of regular Americans and their own outstanding balances.

Category icon Credit Cards, Financial Wellness

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Transparency likely reason for fewer college card deals

Aug 02, 2011 |

The number of agreements between credit card companies and colleges or associated groups had declined over the last year, is transparency the reason?

Category icon Consumer Rights, Credit Cards, Financial Wellness, Young Consumers

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Verizon and AmEx team up for mobile platform

Aug 01, 2011 |

In an effort to compete with the world's larger payment processing networks, American Express recently announced that it had teamed with the nation's top mobile phone service provider.

Category icon Banking, Credit Cards

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July 2011

Hispanic Community Hit Hardest by Recession

Jul 29, 2011 |

Data shows the Hispanic community has been hit hardest by the Great Recession. Consolidated Credit helps Hispanic families adjust to budget setbacks.

Category icon Company News, Debt Advice, Financial Wellness, For Latinos

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Debt ceiling concerns may alter credit card interest rates

Jul 29, 2011 |

If Congress can’t reach a deal to allow the U.S. to continue meeting its debt payments, it may lead to a downgrade in the nation's credit rating.

Category icon Banking, Consumer Rights, Credit Cards, Financial Wellness

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More business credit cards being used

Jul 28, 2011 |

Because many companies are struggling as the recession continues to affect some consumers, more small businesses are relying on their credit cards to stay financially healthy.

Category icon Banking, Credit Cards

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Americans paid billions more in reducing debt

Jul 27, 2011 |

Some experts attribute ongoing declines in credit card debt to risky credit card borrowers no longer having access to new accounts, but is that the case?

Category icon Credit Cards, Financial Wellness

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Credit card defaults fell in June

Jul 26, 2011 |

The number of consumers who saw their credit card accounts charged off in June fell once again on both a month-by-month and year-over-year basis.

Category icon Credit Cards, Financial Wellness

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Consolidated Credit Announces Video Contest Winners

Jul 26, 2011 |

Consolidated Credit Counseling Services, Inc. announces the winner of the 'Reasons Why Debt Sucks!' YouTube Video Contest along with the second and third place runner ups.

Category icon Company News

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Lenders still increasing rewards card value

Jul 25, 2011 |

Lenders struggle to maintain revenues in the face of more federal regulation from. As a result, they’re offering more rewards to entice consumers.

Category icon Credit Cards, Financial Wellness

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Top lenders reach deal with mobile purchasing platform

Jul 20, 2011 |

Widespread acceptance of a new mobile credit card payment business means the nation's 3 largest cellphone service providers have gotten one step closer.

Category icon Banking, Credit Cards

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New Consumer Financial Protection Bureau Begins July 21

Jul 19, 2011 |

The new Consumer Financial Protection Bureau (CFPB) will open its doors on Jul 21 to offer protection to consumers from unfair financial practices.

Category icon Banking, Consumer Rights, Credit Cards, Financial Wellness

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Nearly all lenders see defaults slip

Jul 19, 2011 |

The rates at which consumers fell behind on their credit card payments fell for almost all major lenders in the U.S. during June.

Category icon Credit Cards, Financial Wellness

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College freshmen advised to change spending habits to avoid debt

Jul 18, 2011 |

Tuition costs for college are at an all time high which has burdened many students with a large debt. Read our money savings tips to avoid years of paying back loans.

Category icon Financial Wellness, Student Debt, Young Consumers

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Obama picks head for consumer bureau

Jul 18, 2011 |

After several months of not tabbing anyone to head the new Consumer Financial Protection Bureau, President Barack Obama has finally picked someone to lead the controversial agency.

Category icon Consumer Rights, Financial Wellness

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Consumers still using debit more often than credit for now

Jul 15, 2011 |

Consumers unhappy with credit card debt continue to turn to debit cards, but that could change if banks charge a monthly fee for maintaining a debit card.

Category icon Banking, Credit Cards

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More consumers taking on credit once again

Jul 14, 2011 |

As the economy improves, consumers are finding solid financial footing, and as a result, a growing number are aggressively reducing credit card debt.

Category icon Credit Cards, Financial Wellness

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Consolidated Credit Recognized for Superior Customer Service

Jul 13, 2011 |

Consolidated Credit was one of four finalists at the ACCE 2011 Conference that was recognized for their excellent customer service in credit counseling.

Category icon Company News, Debt Advice, Debt Relief, Financial Wellness

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Credit card delinquencies decline again

Jul 12, 2011 |

The number of consumers behind on monthly credit card payments dipped once again in June, marking the fourth month of declines out of the last six.

Category icon Credit Cards, Financial Wellness

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Consumer credit card borrowing rises again

Jul 11, 2011 |

Though consumers have reined in credit card debt to avoid financial problems stemming from the recession, an improving economy increased borrowing in May.

Category icon Credit Cards, Financial Wellness

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Most think others spend too much on credit cards

Jul 08, 2011 |

While the vast majority Americans feel their credit card debt and spending is under control, they also feel that other consumers are being irresponsible with these accounts.

Category icon Credit Cards, Financial Wellness

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Card use leads to less cash production

Jul 07, 2011 |

The U.S. Treasury slows production of cash bills as Americans increasingly rely on credit cards, but are we hurting our budgets with interest charges?

Category icon Banking, Credit Cards, Financial Wellness

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Study finds credit card lending on the rise

Jul 06, 2011 |

Consumers who are interested in dealing with credit card debt once again may now have the ability to obtain a new account from lenders who previously may have shut them out.

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Credit card debt issues slowing economic recovery

Jul 05, 2011 |

Though the economy has begun to recover from the recession, one thing keeping it from stabilizing is the amount of credit card debt carried by consumers.

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Credit Issuers Relax Credit Card Lending Standards

Jul 05, 2011 |

Many top credit card lenders have decided to ease underwriting standards in order to expedite approvals. Find tips to help prevent financial mistakes.

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Some companies to stop accepting credit cards

Jul 01, 2011 |

Even after winning a lobbying battle against the banks, some merchants still believe the price they pay to process credit cards is simply too high.

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June 2011

Credit card issuers slackening requirements

Jun 30, 2011 |

In a good sign for the economy, the top 16 credit card lenders in the U.S. have relaxed the standards required by consumers before they take on new credit.

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Credit card debt help

Jun 29, 2011 |

Even as the economy continues to improve, consumers are still mired in credit card debt they were forced to take on during the depths of the recession.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Study finds credit card lenders not secure enough

Jun 29, 2011 |

Following a hack exposing client information of the one of the nation’s largest lenders, a study shows many institutions don't do enough to protect data.

Category icon Consumer Rights, Credit Cards, Identity Theft

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Lenders increase number of credit card offers

Jun 28, 2011 |

Looking draw more consumers into taking on credit card debt regularly once again, the nation's top lenders have flooded consumers with new credit offers.

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FLS Deploys Mediation Tool for Housing Counseling

Jun 27, 2011 |

Financial Literacy Solutions LLC (FLS) announced that a company has been chosen to provide a video solution for loan mediation for credit counseling.

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Citi says millions lost to hacking effort

Jun 27, 2011 |

After hackers accessed records for hundreds of borrowers from one of the nation's top lenders, it was revealed they racked up millions in credit card debt.

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JPMorgan drops credit card lawsuits

Jun 24, 2011 |

While many lenders may choose to sue consumers over delinquent and defaulted credit card debt, one of the largest in the U.S. recently dropped more than a thousand such cases.

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Increased card use pushes Discover profits

Jun 23, 2011 |

Consumers seemed eager to take on credit card debt in the second quarter of the year, leading to higher profits for the nation's top credit card lenders.

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Another bank adds secure overseas payment option to cards

Jun 22, 2011 |

Overseas travelers have found it's not easy to take on credit card debt when making purchases abroad, due to the technology American credit cards use.

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Restaurants expected to benefit from lower swipe fees

Jun 21, 2011 |

Since many transactions involve debit rather than credit, restaurants are expected to be major beneficiaries of the new, federal laws for lower swipe fee.

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Credit Report Relief From New Act Will Remove Paid Medical Debt

Jun 21, 2011 |

The Medical Debt Responsibility Act of 2011 allows medical debt to be removed from credit reports. Many Americans have their credit score negatively impacted because of medical bills.

Category icon Consumer Rights, Credit Score, Financial Wellness

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Store cards can pose problems

Jun 20, 2011 |

Retailers looking to entice consumers into opening credit card accounts carrying their store's brand are working to increase the value of these accounts.

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Citi reveals breach was larger than first thought

Jun 16, 2011 |

Facing pressure from lawmakers, Citibank revealed more details about a data breach that opened up hundreds of thousands to fraudulent credit card debt.

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Senators ask for greater disclosure on business credit cards

Jun 15, 2011 |

In an effort to encourage borrowers to take on credit card debt again, more lenders are now sending out more offers for business credit card accounts.

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Credit card purchases see slowest growth in a year

Jun 14, 2011 |

The amount of transactions consumers made using their credit cards - and the amount of credit card debt they took on - grew slowly in May, in part due to high prices and persistent unemployment.

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HSBC mulls end to its credit card lending

Jun 13, 2011 |

Consumers who have some of their credit card debt controlled by the major lender HSBC may soon find that the institution plans to begin shutting down the business.

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FDIC says lenders must do more to protect consumer card data

Jun 10, 2011 |

The Federal Deposit Insurance Corporation says both lenders who deal with consumer credit card debt and federal regulators must do more to protect data.

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Citi says hackers accessed customer data

Jun 09, 2011 |

One of the nation's top controllers of credit card debt recently revealed that hackers had gained access to the personal information of hundreds of thousands of people who have its branded cards.

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Consumer credit increases despite drop in card use

Jun 08, 2011 |

The amount of money borrowed by American consumers rose for the seventh straight month despite the second drop in credit card use in the last three months.

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New debit card transaction fee rule may be delayed

Jun 07, 2011 |

Democrats hoping to push through a bill approving the Federal Reserve Board's proposed swipe fee change, face opposition from members of their own party.

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Student credit card accounts reduced but still problematic

Jun 03, 2011 |

While the number of credit cards owned by those under the age of 21 is falling, some teens are still exploiting loopholes in consumer protection laws to get new accounts.

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Slow Economy Forces College Grads to Move Back Home

Jun 01, 2011 |

Burdened with student loan debt and facing employment challenges and lack of income, college grads are being forced to move back home with their parents.

Category icon Financial Wellness, Housing, Student Debt, Young Consumers

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May 2011

Online payment service from nation’s top banks announced

May 31, 2011 |

More consumers are attempting to avoid credit card debt using online-only payment services. Now the nation's top banks want to get in on the action.

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Google Wallet service said to be secure

May 31, 2011 |

Despite concerns over using smartphones with near-field communication for credit card purchases, but Google says its digital payment service is secure.

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Google officially introduces mobile payment system

May 27, 2011 |

In an effort to allow consumers to use their smartphones to deal with credit card debt, Google became the first company to formally unveil its mobile wallet system earlier this week.

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Consumers will pay for debit card transaction fee change

May 27, 2011 |

In an effort to encourage consumers to avoid credit card debt, the Federal Reserve Board proposed a rule that would severely limit debit purchase fees.

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Prepaid cards will likely drive banks’ revenue spike

May 26, 2011 |

Banks have turned to prepaid cards to recover profits lost to federal credit card fees regulation, but their largest customer has been government agencies.

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Credit card industry sees profits rise

May 26, 2011 |

While many financial institutions cried foul over greater regulations on the way they could charge rates and fees on credit card debt, 2010 saw the industry turn a massive profit.

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Google to unveil NFC payment system this week

May 25, 2011 |

The company behind the most widely-used smartphone operating system has plans for a payment program that handles credit card debt on mobile devices.

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Teen credit card knowledge now lower

May 25, 2011 |

The recession has changed many consumers' attitudes towards credit card debt, and a recent survey found that teenagers were also affected by the downturn.

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Mobile payment processing giant unveils iPad app

May 24, 2011 |

One of the country's top mobile payment processing networks will now allow businesses to handle credit card debt using a popular tablet computer.

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Those who default only on mortgages better credit risks

May 24, 2011 |

Consumers who have only defaulted on their mortgages are more likely to pay down new credit card debt than those who have a history of delinquency across multiple accounts.

Category icon Banking, Homebuyers, Housing

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NFC chip manufacturers gear up for massive rollout

May 23, 2011 |

Consumers eager to use smartphones for credit card transactions are in luck, as near-field communications technology ramps up over the next two years.

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Fewer borrowers have severely delinquent credit card accounts

May 23, 2011 |

The number of consumers nationwide who are struggling with credit card debt shrunk once again in the first quarter of the year, to levels not seen in nearly 15 years.

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Credit card data breach incidents caused mostly by small businesses

May 20, 2011 |

A vast majority of data breach incidents that can result in fraudulent credit card debt for consumers were recently found to be caused by small businesses.

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Major retailers attempting to ease credit card payments

May 19, 2011 |

Though technology for credit card transactions through your mobile device isn’t here yet, many major retail chains now have similar services at checkout.

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Target income rises on fewer credit card charge offs

May 18, 2011 |

Top financial institutions aren’t alone seeing default credit card debt declining. The nation's second-largest discount retailer also reports declines.

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Gas prices force debit and credit purchases higher

May 18, 2011 |

Consumers took on more credit card debt at retail locations during the month of April than during the same period last year, largely due to an increase in the prices for gasoline and food.

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Defaulted credit card accounts drop for five major lenders

May 17, 2011 |

Instances of charged off credit card debt fell for nearly every one of the six largest lenders in the U.S., while 30-day delinquencies dropped across the board.

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iPhone users won’t get NFC with new handset

May 17, 2011 |

Consumers who were looking forward to using their iPhone to take on credit card debt will have to wait another year at least for the new technology.

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Consumers credit card eagerness an economic positive

May 16, 2011 |

Many consumers have shown a greater interest in dealing with credit card debt in recent months, leading many experts to speculate that this is a sign of nationwide economic recovery.

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Charge offs may slip below 4 percent this year

May 13, 2011 |

Default rates for credit card debt have declined substantially in the last few months, if trend continues the charge off rate will fall to a 20-year low.

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Visa reveals its plans for mobile credit card payments

May 12, 2011 |

Consumers who are anxious to use their mobile phones to deal with credit card debt will have a very good chance of being able to do so within the next few months.

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Debt settlement company investigated by news station

May 12, 2011 |

A California debt settlement agency was recently investigated by a news station in Virginia for bilking financially troubled consumers out of thousands of dollars.

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Small businesses offer discount for not paying with credit

May 11, 2011 |

Consumers looking to avoid credit card debt may choose alternative payment methods, and now many small businesses may offer them discounts for doing so.

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Intuit will launch its own mobile payment system

May 11, 2011 |

A major financial software company will soon launch a program that allows consumers to deal with credit card debt using their smartphones.

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Credit card delinquency and default continue improvements

May 11, 2011 |

Consumer credit outlooks continue to improve, bringing the number of delinquent and defaulted accounts to levels not seen since the start of the recession.

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Credit losses slipped once again in the first quarter

May 10, 2011 |

Are consumers in a better position to pay down debt? The fact lenders aren’t setting aside as much to cover defaulted accounts suggests it may be true.

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Law has made it easier for consumers to avoid credit card debt

May 10, 2011 |

Consumers have had a better time managing their credit card debt in recent years, thanks in large part to a federal law for lenders working as it was intended.

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Major U.S. lender sees trouble from credit card business

May 10, 2011 |

While financial institutions have seen profits soar recently due to consumers paying down debt, one bank considers selling off its lending business.

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Analysts say debit fee rules might apply to PayPal

May 09, 2011 |

A payment service some consumers use to avoid taking on credit card debt when making a purchase online could soon face similar restrictions as major financial institutions.

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Consumers borrowed more in March

May 09, 2011 |

The amount of credit card debt and other loans that consumers took out in March rose over the previous month.

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Credit card lenders less likely to lower rates

May 09, 2011 |

In the past, a strong borrowing history meant you could reduce a credit card interest rate by calling a lender and asking, but that’s no longer the case.

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Lenders take advantage of loopholes in student credit card laws

May 09, 2011 |

Many of the nation's largest lenders are circumventing laws drafted to protect students from the perils of high credit card debt by offering different types of giveaways.

Category icon Credit Cards, Financial Wellness, Young Consumers

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Higher ATM fee test period comes to an end for Chase

May 06, 2011 |

Hoping to boost revenue to offset regulation on credit card interest rates and fees, Chase has applied higher out-of-network ATM fees in some states.

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Banks now implementing more charges and fees

May 06, 2011 |

People looking to reduce credit card debt may face more challenges, as the nation's top financial institutions impose more fees and higher interest rates.

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Small business credit carries different rules than consumer cards

May 05, 2011 |

Many consumers who own small businesses may have received a larger number of offers for new credit cards specifically for their company, but these should be approached with caution.

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Proposed rule could help MasterCard catch Visa

May 05, 2011 |

A rule to help consumers avoid credit card debt may have unintended consequences, cutting revenues for the world's largest payment processing network.

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Number of new credit card accounts spikes in March

May 05, 2011 |

As consumers begin to feel better about their financial outlook and stability, the number of new credit card accounts rose significantly in March.

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New stolen credit card law awaits Florida governor’s signature

May 04, 2011 |

To stem rising fraudulent credit card debt claims by residents, the Florida Senate approved a bill that to increase the penalty for using stolen accounts.

Category icon Consumer Rights, Credit Cards, Identity Theft

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Cellphone service providers scale back mobile payment plans

May 04, 2011 |

What was supposed to be a plan from the nation's largest cellphone service providers to begin processing credit card debt has been cut significantly.

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Credit card lenders easing standards for borrowers

May 04, 2011 |

During the recession, many consumers found it difficult to obtain new credit cards as lenders became wary of default, but that may no longer be the case.

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Credit card industry has reason for optimism

May 03, 2011 |

As consumers pay down credit card debt and regulatory uncertainty gets cleared up, lenders are seeing brighter days ahead for the credit card industry.

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MasterCard sees higher profits on more credit card use

May 03, 2011 |

Economic improvements lead consumers to feel comfortable about credit card debt, causing profits to soar for one of the world's top processing networks.

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Mobile payment processing company reaches milestone

May 03, 2011 |

One of the nation's foremost mobile credit card debt processors recently announced that it reached an important milestone less than two months after its first major high point.

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Durbin points to Canadian fee system

May 02, 2011 |

As Americans turn to debit to avoid credit card debt, financial institutions fight for a new rule to limit transaction fees, increasing consumer costs.

Category icon Banking, Consumer Rights, Credit Cards

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Lenders seem to commit to new credit card technology

May 02, 2011 |

Financial institutions may offer more secure credit card technology to make it harder for thieves to steal your personal data and commit credit card fraud.

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April 2011

PayPal takes another step toward mobile credit card payments

Apr 29, 2011 |

One of the nation's leading online transaction processors recently bought a startup company that could allow more consumers to deal with their credit card debt using their smartphone.

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Interchange fee battle rages on

Apr 29, 2011 |

The debate Federal Reserve Board rules for credit card debt continues, as retailers and banks battle over proposed changes to swipe fee regulations.

Category icon Banking, Consumer Rights, Credit Score

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More perks added for lenders’ top rewards programs

Apr 28, 2011 |

Consumers who earn rewards points for every dollar of credit card debt they take on using lenders' most prestigious accounts may soon find that their benefits have expanded even further.

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Square secures noteworthy investment from Visa

Apr 28, 2011 |

A cash injection from the world's largest credit network may not carry monetary weight, but the support will likely be a boon to business startups.

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Bank of America introduces higher penalty interest rate

Apr 27, 2011 |

Consumers who fail to pay their credit card debt on time may soon be hit with a sky-high penalty rate if their account is controlled by Bank of America.

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Debt settlement company banned from Missouri

Apr 27, 2011 |

A Florida-based debt settlement firm was recently barred from conducting business in Missouri, and will have to refund any fees residents of the Beehive State paid to it in recent years.

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Americans spent more overseas in 2010

Apr 26, 2011 |

In yet another sign that American consumers are feeling better about their finances, the amount of credit card debt they took on while visiting foreign countries grew considerably last year.

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Credit card data breaches becoming less common for compliant firms

Apr 26, 2011 |

Data breaches could result in consumer data being used to credit fraud are slowly decreasing for companies compliant with the latest protection methods.

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Delinquent and defaulted credit card debt declines in March

Apr 26, 2011 |

The rate at which consumers fell behind on their credit card debt payments slipped, spelling lower rates of both delinquent and charged off accounts for the nation's top lenders.

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High debt and other financial worries weigh on young adults

Apr 25, 2011 |

A tough economy leaves young consumers facing severe financial difficulties including sky-high credit card debt and outstanding student loan payments.

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Consumers now seeking credit cards again

Apr 22, 2011 |

While many consumers either cut or discontinued credit use during the recession, recent economic upturns lead some to get comfortable with credit again.

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Some consumers have credit limits cut by lenders

Apr 22, 2011 |

Regardless of on-time past payments, consumers find if they miss just one payment, even if it's only by a day or two, their borrowing limit can be cut.

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‘Reasons Why Debt Sucks’ Video Contest Announced

Apr 21, 2011 |

Consolidated Credit Counseling Services, Inc. is hosting a video contest, Reasons Why Debt Sucks, in which the video with the most unique debt success story will win a free iPad!

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Many still worry about credit card debt

Apr 20, 2011 |

As consumers sort out their finances in the wake of the recession, some are being more cautious about opening new credit accounts that could lead to debt.

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Mobile payment myths dispelled

Apr 20, 2011 |

Consumers are wary to deal with credit card debt using mobile phones because of the security risks that may be posed, but are these concerns baseless?

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Many consumers don’t use credit card rewards points

Apr 19, 2011 |

While consumers use credit cards that grant rewards points for every dollar of credit card debt taken on, more than half do not redeem them regularly.

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Credit card reader now available through Apple Store

Apr 18, 2011 |

A company that manufactures a device that allows businesses to process credit card debt using a mobile phone has accomplished a rare feat that will likely cause its popularity to surge.

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Capital One reports fewer charge offs, delinquencies

Apr 15, 2011 |

Leading credit issuer Capital One reports delinquent and charged off accounts declined in March. Are consumers getting better at managing credit card debt?

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JPMorgan also plans to launch microchip credit card

Apr 14, 2011 |

JPMorgan accountholders who deal with more credit card debt than most others will soon receive a new type of card that will ease their transactions overseas.

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Some Wells Fargo customers to receive new credit card technology

Apr 14, 2011 |

Consumers who feel more comfortable using credit rather than carrying cash overseas may be frustrated to find American-issued plastic doesn't always work.

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American Express invests in mobile payment company

Apr 13, 2011 |

Consumers who use American Express to handle their credit card debt may soon be able to use their mobile phones to make purchases on those accounts.

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Mobile bankers likely to adopt NFC payments

Apr 12, 2011 |

Consumers who prefer to deal with their credit card debt using applications on their smartphones are also more likely to adopt contactless near-field communication mobile payment options.

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New travel promotion grants additional discounts to AmEx customers

Apr 12, 2011 |

In order to boost revenue, American Express announced a partnership that will allow the consumers to gain additional discounts on select travel purchases.

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Criminals turning to debit card scams

Apr 12, 2011 |

Many consumers may be using their debit cards to make purchases more often these days in an effort to avoid credit card debt, and criminals are reacting accordingly.

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Offering deals will lead more to adopt mobile credit card payments

Apr 12, 2011 |

Consumers may not have the confidence to use mobile technology to deal with credit card debt, but companies may soon offer incentives to boost usage.

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Large-scale testing of mobile payment system to begin next year

Apr 12, 2011 |

A joint-venture mobile payment system that will allow consumers to handle their credit card debt using their smartphones will be tested in Utah next year.

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Chase may move to reinstate debit card rewards program

Apr 11, 2011 |

While many top banks plan to eliminate debit point reward programs, Chase says it would reopen them if proposed federal regulations are put on hold.

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Many stand to profit from mobile credit card payments

Apr 11, 2011 |

In spite of doubt in technology that allows consumers to deal with credit card debt on smartphones, numerous industries will make a lot of money from it.

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Consumers responding to new agency’s call for input

Apr 11, 2011 |

The new Consumer Financial Protection Bureau is overwhelmed by consumer feedback, showing just how high public concern is over the finance industry.

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Consumer credit card debt tumbles in February

Apr 08, 2011 |

Americans may be feeling better about their finances, but the amount of credit card debt they owe to financial institutions fell for the second straight month in February.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Glitch causes damage to consumer credit scores

Apr 08, 2011 |

Americans who carry credit card debt on accounts controlled by HSBC recently found that their credit scores had dropped as a result of a computer error.

Category icon Consumer Rights, Credit Score, Financial Wellness

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Chrysler announces new rewards credit card

Apr 07, 2011 |

One of the nation's leading auto manufacturers launches a rewards credit card for those who spend a lot of money on their vehicles, from purchase to parts.

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Consumers continue to buy more online

Apr 06, 2011 |

Consumers are feeling better about their finances and credit card debt levels, leading them to spend more of their discretionary income, particularly online.

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Kohl’s credit card portfolio transferred to new lender

Apr 06, 2011 |

Consumers who have credit card debt on their Kohl's department store account will soon be paying their bills to a different lender.

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Credit card fee suit will stand

Apr 05, 2011 |

A South Dakota judge recently ruled that a lawsuit filed over an aspect of laws designed to help consumers avoid credit card debt would be allowed to move forward.

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Consumers still reducing credit card debt

Apr 05, 2011 |

The amount of consumers across the country who were behind on their credit card debt declined once again at the end of last year.

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Banks continue to cut debit card rewards programs

Apr 04, 2011 |

In the past, consumers who were wary of dealing with credit card debt could instead enroll in some banks' debit card rewards programs, but now many no longer give the option.

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Company debuts new mobile payment system

Apr 04, 2011 |

Consumers who are guarded of dealing with the credit card debt that may come with making payments on their smartphone may soon have a new option for this type of purchase.

Category icon Banking

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Data breach affects major credit card issuers

Apr 04, 2011 |

Several of the largest credit card debt handlers in the country were recently affected by a massive data breach that could leave customers exposed to potential scams.

Category icon Consumer Rights, Credit Cards, Identity Theft

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Major lender cuts foreign transaction fee

Apr 01, 2011 |

One of the largest lenders in the nation recently announced it would cut a fee that has added to the credit card debt of any consumer who made a purchase overseas.

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Credit card debt continues to fall in finically troubled areas

Apr 01, 2011 |

While severe financial problems still plague many municipal areas around the country, a number have also seen credit card debt totals decline steeply. Experts have several theories as to why.

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March 2011

Warren seeks to appease CFPB’s harshest critics

Mar 31, 2011 |

Elizabeth Warren met with CFPB critics within the lending industry in an attempt to assuage fears over what new regulations could mean for revenues.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Churches turn to credit card transactions for donations

Mar 30, 2011 |

Consumers may be wary of racking up credit card debt these days, but they might feel better about using these accounts to make donations to their church.

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Lenders only increasing credit card offers to wealthier consumers

Mar 29, 2011 |

Although consumers have reduced credit card debt in recent months, lenders are only sending offers for better rewards accounts to wealthy borrowers.

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New York group seeks funds to fight foreclosure

Mar 29, 2011 |

Consumers struggle to make mortgage payments and avoid foreclosure, while federal aid fails to reach many cash-strapped Americans in need of assistance.

Category icon Banking, Consumer Rights, Foreclosure, Homebuyers, Housing

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Consumers cut credit card debt before mortgage payments

Mar 29, 2011 |

Consumers face difficult financial decisions in paying bills. These days, more are inclined to reduce credit card debt than meet mortgage obligations.

Category icon Banking, Credit Cards, Foreclosure, Homebuyers, Housing

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Spring Clean Your Finances for Financial Literacy Month

Mar 29, 2011 |

April is National Financial Literacy Month. Consolidated Credit offers tips for revamping your budget so you can spring clean your personal finances.

Category icon Company News, Debt Advice, Financial Wellness

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Consumers wary of new credit card legislation

Mar 29, 2011 |

Although recent legislation helps consumers avoid fees and gain access to new borrowing channels, many consumers remain skeptical of industry shake-ups.

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Google introduces Citi credit card payment system

Mar 28, 2011 |

Consumers with cards issued by Citi will soon be able to use their Android-based smartphones to make mobile purchases and manage their credit card debt more effectively.

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American Express introduces electronic payment system

Mar 28, 2011 |

Consumers who have accounts controlled by American Express will soon have access to a new payment system that may allow them to better control their credit card debt.

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Group says more credit card debt rules needed

Mar 25, 2011 |

Consumer advocate group Consumers Union says protections intended to prevent consumers from being targeted by predatory lending still don't go far enough.

Category icon Consumer Rights, Credit Cards, Debt Relief

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Mobile wallets unlikely to become standard soon

Mar 25, 2011 |

While some consumers are eager to manage credit card debt on smartphones, mobile credit tech is unlikely to take majority market share in the near future.

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Consumer Financial Protection Bureau lining up more help

Mar 24, 2011 |

In an effort to help Americans avoid overwhelming themselves with credit card debt, the Consumer Financial Protection Bureau says it has specific plans to clarify lending agreements.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Arizona extends debt collection pursuit time

Mar 24, 2011 |

Consumers in Arizona who have defaulted on their credit card debt in the past few years will now have to wait twice as long until the collections agencies stop calling.

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Discover reports profits as consumers pay down credit card debt

Mar 23, 2011 |

One of the nation's largest lenders saw consumers increase the amount of credit card debt they paid down, increasing its profits in the first quarter to all-time record levels.

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Collection companies step up suits over delinquent credit card debt

Mar 21, 2011 |

Many consumers may have had their defaulted credit card debt sold to collections agencies that pursue these funds aggressively, and many are now taking debtors to court.

Category icon Consumer Rights, Credit Cards, Debt Collection

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Credit card debt grows in most states

Mar 21, 2011 |

While average credit card debt has declined in recent months, there are a number of trends showing Americans may be growing more reliant on credit again.

Category icon Credit Cards, Financial Wellness

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More consumers had trouble with Chase credit card debt

Mar 18, 2011 |

While most of the nation's six largest lenders saw consumers’ credit card delinquencies fall, Chase went against the grain as uncollectible debt rose.

Category icon Credit Cards, Financial Wellness

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Visa joins with CashEdge and Fiserv on new initiative

Mar 18, 2011 |

Due to the growing popularity of PayPal, the online personal payment service, visa recently announced it would team with two of the company's competitors.

Category icon Bankruptcy, Credit Cards

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CFPB to focus on clearer credit card disclosures

Mar 17, 2011 |

The Consumer Financial Protection Bureau focuses on making it easier to find and compare credit card rates and fees so it’s easier to avoid debt problems.

Category icon Consumer Rights, Credit Cards

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Credit card delinquency and charge offs fall for Bank of America

Mar 16, 2011 |

Bank of America's charge off rate hit a two-year low last month, which may be a sign that U.S. consumers are moving in the right financial direction.

Category icon Credit Cards, Financial Wellness

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Electronic pickpocketing threat has existed for years

Mar 16, 2011 |

While reports highlight a potential for credit card fraud by thieves stealing data from credit cards with RFID chips, the issue has existed for years.

Category icon Identity Theft

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Capital One saw charge offs decline again in February

Mar 15, 2011 |

The rate at which one of the nation's six largest credit card lenders saw consumers fall behind in their monthly payments declined once again in February.

Category icon Banking, Credit Cards

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Bank of America customers may find new credit card fees

Mar 15, 2011 |

Consumers who have significant credit card debt on Bank of America accounts may soonhave to pay a new annual fee.

Category icon Banking, Credit Cards

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Fight over swipe fees continues as deadline approaches

Mar 14, 2011 |

Representatives of both the retail and banking industries have been hard at work on Capitol Hill in recent weeks, trying to sway lawmaker opinion over a proposed debit card swipe fee rule change.

Category icon Banking, Consumer Rights, Credit Cards

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Rumors say iPhone 5 won’t support NFC credit card purchases

Mar 14, 2011 |

Though it was believed the latest version of Apple's iPhone would be able to execute credit card transactions for retail purchases, it’s not the case.

Category icon Credit Cards

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Debit card interchange fee debate takes turn

Mar 11, 2011 |

In the coming months, the Federal Reserve is expected to issue its final decision as to whether the recently proposed interchange fee caps on debit card transactions will take effect.

Category icon Banking, Credit Cards

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Card issuers attempt to collect decade-old credit debt

Mar 10, 2011 |

Sweeping changes to the credit card industry over the last year, have led credit issuers to find new ways to raise revenue and help struggling bottom lines.

Category icon Credit Cards, Debt Collection

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Credit cards place in FTC’s Top 10 consumer complaints

Mar 09, 2011 |

Although many consumers have avoided using credit cards over the last few months, it hasn't stop millions of complaints to the Federal Trade Commission.

Category icon Consumer Rights, Credit Cards

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MasterCard to offer new “smart” credit card

Mar 09, 2011 |

A number of high-tech credit card offers go public, the most notable of which allows consumers to switch between checking and savings seamlessly.

Category icon Credit Cards, Financial Wellness

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Major banks seek to replace debit card revenue

Mar 09, 2011 |

Since Congressional regulations on debit cards took effect last year, major U.S. banks have been looking for ways to increase revenue lost to the legislation.

Category icon Banking

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Americans hold more than 1.4 billion credit cards

Mar 08, 2011 |

Despite reports of a growing shift in consumers' use of credit and willingness to take on new debt, research shows Americans hold over 1.4 billion cards.

Category icon Credit Cards, Financial Wellness

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Student interest in credit cards on the decline

Mar 08, 2011 |

While legislation has made it harder for students to get credit without their parents' permission, research shows youth aren’t really keen on credit.

Category icon Credit Cards, Financial Wellness, Young Consumers

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Banks forgiving more credit card debt

Mar 08, 2011 |

Are reported reductions in consumer credit card debt really the result of fiscal responsibility or simply a product of more bank charge offs of accounts?

Category icon Banking, Credit Cards, Debt Relief

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Capital One could benefit from student credit card debt

Mar 07, 2011 |

While Capital One has seen revenues fall during the recession, they could see increased profits from renewed willingness to take on credit card debt.

Category icon Credit Cards, Student Debt

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American Express to partner with Foursquare Labs

Mar 07, 2011 |

This week, American Express, announced a new deal with Foursquare, the popular smartphone virtual check-in service to offer users credit incentives.

Category icon Credit Cards, Financial Wellness

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Mortgage rates continue downward descent

Mar 04, 2011 |

Despite the fact that the housing market has been unfriendly to consumers who are trying to avoid foreclosure, conditions for prospective buyers continued to improve at the beginning of March.

Category icon Banking, Foreclosure, Homebuyers, Housing

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Medical credit cards could cause debt

Mar 03, 2011 |

While unemployment is the leading factor for credit card debt problems for younger consumers, seniors tend to struggle after funding medical procedures.

Category icon Credit Cards, Financial Wellness

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Massachusetts foreclosures see big yearly decline

Mar 03, 2011 |

While many residents of Western states continue to struggle with foreclosure, the number of homeowners facing eviction in Massachusetts fell in January.

Category icon Foreclosure, Homebuyers, Housing

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Americans rack up holiday credit card balances

Mar 03, 2011 |

This holiday season many reports indicated consumers increased their credit card spending to make purchases for friends and family.

Category icon Credit Cards, Financial Wellness

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Auto loan delinquencies see slight change in 4Q

Mar 02, 2011 |

TransUnion finds the national average credit card debt has remained unchanged in the fourth quarter of 2010, while auto delinquency rates have plateaued.

Category icon Auto, Banking, Financial Wellness

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PNC bucks credit card fee trend

Mar 02, 2011 |

With Bank of America leading the charge, a number of banks across have introduced costly fees for new checking accounts as well as existing customers.

Category icon Banking, Credit Cards

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Major Midwestern city sees foreclosure decline

Mar 02, 2011 |

As the nation continues to struggle with high rates of foreclosure and mortgage delinquency, foreclosures in Milwaukee, Wisconsin, declined in February.

Category icon Banking, Foreclosure, Homebuyers, Housing

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Public schools may leave youth stuck with debt

Mar 01, 2011 |

The combination of student loans and credit card use leaves college students at an increased risk for debt before they have the means to pay it off.

Category icon Credit Cards, Debt Advice, Family, Student Debt, Young Consumers

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Bad habits could lead seniors into credit card debt

Mar 01, 2011 |

Seniors frequently use credit cards for retail purchases, but failure to pay off balances in full each month may lead to difficulties on a fixed income.

Category icon Credit Cards, Debt Advice, Seniors

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February 2011

Encouraging corporate wellness in the office

Feb 27, 2011 |

Recent studies have shown that office workers are susceptible to a number of health conditions due to long hours of sitting, looking at a computer screen and using a keyboard.

Category icon Employment, Financial Wellness

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Georgia homeowners get mortgage relief

Feb 25, 2011 |

As part of an overarching federal effort to give relief to struggling homeowners, Georgia recently implemented a version of the Hardest Hit Fund.

Category icon Banking, Foreclosure, Homebuyers, Housing

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Credit debt outpaces emergency savings for many consumers

Feb 25, 2011 |

While Americans have generally become more fiscally responsible since the start of the recent economic downturn, many consumers have neglected to put their savings in an emergency account.

Category icon Credit Cards, Financial Wellness

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Mortgage applications rise sharply, MBA says

Feb 24, 2011 |

Even as consumers apply for new federal aid programs to avoid foreclosure, homebuyers flocked to the market due to an unexpected drop in interest rates.

Category icon Banking, Foreclosure, Homebuyers, Housing

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Credit card debt remains unchanged in 4Q, TransUnion says

Feb 24, 2011 |

Although credit card issuers have noted declines in late payments and defaults, the national credit card debt average remains relatively unchanged.

Category icon Credit Cards, Financial Wellness

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Foreclosure relief applications require preparation

Feb 23, 2011 |

Although consumers may qualify for the foreclosure relief programs like HAMP and HARP, some may be hurting efforts by not keeping financial documents.

Category icon Banking, Foreclosure, Homebuyers, Housing

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Banking fees could force millions out of account ownership

Feb 22, 2011 |

Wells Fargo, Bank of America, Chase and Citigroup have introduced new monthly checking account fees and small banks could follow leaving millions unbanked.

Category icon Banking, Consumer Rights

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CARD Act not adversely affecting borrowers, study finds

Feb 22, 2011 |

Although lenders warned the Credit CARD Act of 2009 would make it harder and more expensive for consumers to obtain new credit, that isn’t the case.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Mortgage delinquencies hit pre-recession levels

Feb 21, 2011 |

While the foreclosure rates in many states remain near record high levels, the number of homeowners who were late on mortgage payments decreased in several categories in the fourth quarter.

Category icon Banking, Homebuyers, Housing

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Mortgage delinquencies drop in Massachusetts

Feb 21, 2011 |

While much of the country is still struggling with high rates of foreclosure and mortgage loan delinquencies, Massachusetts recently saw these figures decrease during the fourth quarter of 2010.

Category icon Banking, Homebuyers, Housing

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First Premier disbands 59 percent interest rate card

Feb 18, 2011 |

In recent weeks a number of widely publicized reports singled out credit cards with exorbitant interest rates. One such credit card option was First Premier Bank's 59.9 percent APR MasterCard.

Category icon Credit Cards, Financial Wellness

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Foreclosure process taking longer, report says

Feb 18, 2011 |

Due to the recent high unemployment figures, and the mounting debt problems plaguing many consumers, the number of homes in the foreclosure process continues to increase.

Category icon Banking, Foreclosure, Homebuyers, Housing

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Bank of America adds new fees to consumer accounts

Feb 17, 2011 |

In recent months, a number of banks have introduced new fees on services in an attempt to recoup revenue lost by recent regulatory actions by the federal government.

Category icon Banking, Consumer Rights, Credit Score

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TransUnion sees mortgage delinquency rate drop

Feb 17, 2011 |

Credit reporting bureau TransUnion announced the national mortgage loan delinquency rate decreased for the fourth straight quarter at the end of last year.

Category icon Homebuyers, Housing

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Capital One reports improved credit card behavior

Feb 16, 2011 |

Capital One Financial continued a series of strong industry reports by announcing that consumers reduced both charge offs and delinquencies in January.

Category icon Credit Cards, Financial Wellness

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CFPB may face challenges ahead

Feb 16, 2011 |

The Consumer Financial Protection Bureau was established last year by President Barack Obama to help protect Americans from the predatory tactics of credit card and mortgage lenders.

Category icon Banking, Consumer Rights, Credit Cards

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Federal Reserve Bank sees U.S. household debt total fall

Feb 16, 2011 |

Across the country, millions of consumers are struggling with high mortgage payments, falling home values and the constant threat of losing their home through foreclosure.

Category icon Financial Wellness, Homebuyers, Housing

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Hardest hit fund to expand to more states

Feb 15, 2011 |

The federal government expands the Hardest Hit Fund to 18 states in an effort to help homeowners struggling with unemployment and underwater mortgages.

Category icon Homebuyers, Housing

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Mortgage rates on the rise in February

Feb 15, 2011 |

For the first time since May 2010, the national average for a 30-year fixed-rate mortgage loan rose above 5 percent, making homebuying more expensive.

Category icon Homebuyers, Housing

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New credit card users carry fee burden

Feb 15, 2011 |

Since Congress enacted recent overhauls of the debit card system last year, many credit card companies have been looking for new ways to increase their slumping revenues.

Category icon Credit Cards, Financial Wellness

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California court makes major credit card ruling

Feb 14, 2011 |

In a unanimous decision, California's Supreme Court ruled that retailers do not have the right to ask credit card users for ZIP codes when completing a transaction.

Category icon Consumer Rights, Credit Cards

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Consumer sentiment on the rise in February

Feb 14, 2011 |

Despite continued struggles with credit card debt, mortgages and the threat of foreclosure, U.S. consumer confidence hit an 8-month high in February.

Category icon Financial Wellness

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Obama unveils plans to loosen control of Fannie and Freddie

Feb 14, 2011 |

After weeks of speculation, the Obama Administration submitted a report to Congress that would loosen government control of major mortgage lenders Fannie Mae and Freddie Mac.

Category icon Banking, Homebuyers, Housing

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Celebrity tax evaders struggle with credit card debt

Feb 11, 2011 |

In recent months, a number of celebrities have faced financial problems, such as overwhelming debt, as evidenced by their recent tax troubles.

Category icon Credit Cards, Financial Wellness

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Consumers expected to spend big with credit cards this Valentine’s Day

Feb 11, 2011 |

Federal Reserve and lender data shows Americans were more willing to swipe credit cards during the holidays, a trend that should continue in February.

Category icon Credit Cards, Financial Wellness

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Foreclosures increase nationally in January

Feb 11, 2011 |

Foreclosure activity in the U.S. housing market increased 1 percent in January, according to a new report from mortgage analytics company RealtyTrac.

Category icon Financial Wellness, Homebuyers, Housing

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Majority of consumers say mortgage access is a problem

Feb 10, 2011 |

While many quick to identify the deficit, consumer credit card use and the economy as problems, a study shows mortgage access is equally in danger.

Category icon Financial Wellness, Homebuyers, Housing

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Foreclosures cause U.S. stress level to increase

Feb 10, 2011 |

Many homeowners have defaulted on mortgage payments due to unemployment, charge offs and debt, and this threat of foreclosure is increasing stress levels.

Category icon Banking, Foreclosure, Homebuyers, Housing

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National credit risk falls during the fourth quarter

Feb 10, 2011 |

This week, major credit reporting company TransUnion released its annual Credit Risk Index, which found Americans lowered their credit risk for the fourth consecutive quarter at the end of 2010.

Category icon Credit Cards, Financial Wellness

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U.S. should release control of Fannie and Freddie

Feb 09, 2011 |

Two years after the federal government to took control of Fannie Mae and Freddie Mac, some experts are calling to let the companies compete again.

Category icon Banking, Financial Wellness, Homebuyers, Housing

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Free checking may soon be extinct

Feb 09, 2011 |

Since the passage of recent credit card regulations by the Federal Reserve Board and Congress, consumers have seen a number of fees and charges disappear from their credit card accounts.

Category icon Banking, Credit Cards, Financial Wellness

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Regulations could cost credit industry billions

Feb 09, 2011 |

Due to recent regulations passed by Congress and the Federal Reserve Board, banks and lenders are expected to lose billions of dollars in revenue this year.

Category icon Banking, Credit Cards, Financial Wellness

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Credit card rates near 80 percent in some cases

Feb 08, 2011 |

Since the start of the recession, creditors have attempted to extend new credit lines to a number of Americans who experienced defaults and charge offs.

Category icon Credit Cards, Financial Wellness

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Gas prices may put a strain on U.S. credit cards

Feb 08, 2011 |

In December, American consumers demonstrated a renewed willingness to swipe their credit cards, increasing both the total volume of their transactions as well as profits for lenders.

Category icon Financial Wellness

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Consumers increase credit card debt in December

Feb 08, 2011 |

Americans increased their credit card use in December, marking the third straight month they have increased their overall debt burden.

Category icon Financial Wellness

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Ohio ranks third in national credit card debt

Feb 07, 2011 |

Despite the recent economic upturn, residents of the Buckeye State are still struggling to control their credit card use and are racking up billions in debt with lenders.

Category icon Credit Cards, Financial Wellness

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Financial watchdog to take credit card suggestions

Feb 07, 2011 |

Since the beginning of the recent economic recession, many consumers have been increasingly unhappy with the behavior of major financial institutions.

Category icon Consumer Rights, Financial Wellness

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mPayy could help consumers avoid extra credit card debt

Feb 07, 2011 |

Even consumers on a monthly budgeting can face cash flow challenges. As a result, many swipe credit cards for small purchases, quickly add to their debt.

Category icon Banking

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Credit card-forging technology readily available, a new report says

Feb 04, 2011 |

Due to recent technological advances, a consumer's financial information faces more threats than ever from credit card thieves and high-tech hackers.

Category icon Credit Cards, Financial Wellness

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Visa and MasterCard see increase in credit card use

Feb 04, 2011 |

MasterCard and Visa saw increases in the number of credit card transactions in the fourth quarter of 2010, according to recent regulatory filings.

Category icon Credit Cards, Financial Wellness

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Debt-stricken Alabama homeowners receive federal assistance

Feb 04, 2011 |

The Alabama Housing Finance Authority receives $160 million in foreclosure prevention assistance to help homeowners struggling with unemployment.

Category icon Debt Relief, Foreclosure, Homebuyers, Housing

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New law proposes bankruptcy-style supervision in home mediation

Feb 03, 2011 |

A new bill could allow consumers struggling high mortgage payments and the threat of foreclosure to enter court-supervised talks with their lenders.

Category icon Banking, Bankruptcy, Consumer Rights, Foreclosure, Homebuyers, Housing

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Demand for credit among small businesses falls

Feb 03, 2011 |

The number of small business owners actively seeking credit from lenders fell in 2010, in part because many opted for other avenues of financing.

Category icon Credit Cards, Financial Wellness

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Facebook offers new avenues for credit card use

Feb 03, 2011 |

The popular social networking site Facebook announced this week that it will be looking to expand its Credit system to allow consumers to make credit and debit purchases at online destinations.

Category icon Credit Cards

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Minnesotans face credit card debt, bankruptcy

Feb 02, 2011 |

Despite recent actions by Congress and the Federal Reserve, consumers across the country are still facing problems relating to credit card debt.

Category icon Credit Cards, Financial Wellness

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Federal Reserve could restrict credit access for stay-at-home spouses

Feb 02, 2011 |

Under a recently proposed Federal Reserve regulation, applying for a new credit card would get more difficult for stay-at-home spouses, according to some industry experts.

Category icon Consumer Rights, Family, Financial Wellness

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Loss of income leading cause of mortgage modifications

Feb 02, 2011 |

Homeowners who pursued mortgage modification to avoid foreclosure with the Home Affordable Modification Program largely did so due to of a loss of income.

Category icon Foreclosure, Housing

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Credit card rates near record high

Feb 01, 2011 |

Due in part to their extension of new credit lines to borrowers with subprime credit scores, many struggling consumers are seeing an increase in credit card offers in their mailboxes.

Category icon Credit Cards, Financial Wellness

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JPMorgan to halt debit rewards programs

Feb 01, 2011 |

Beginning on February 8, JPMorgan Chase is set to end enrollment for its popular debit card rewards programs, closing the service off to customers who are already enrolled.

Category icon Banking

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Old debt could resurface due to Federal Reserve regulations

Feb 01, 2011 |

While many believed new Federal Reserve regulations would provide greater protection from lenders, California cardholders are being haunted by old debt.

Category icon Credit Cards, Financial Wellness

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January 2011

California leads nation in credit card debt

Jan 31, 2011 |

Despite recent declines in short- and long-term late payments to lenders, Americans across the country still owe billions in credit card debt.

Category icon Credit Cards, Financial Wellness

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Mortgage modification program deemed a failure

Jan 28, 2011 |

The Home Affordable Modification Program, which was created as way to save homeowners from foreclosure, has underperformed, according to the program's watchdog.

Category icon Banking, Foreclosure, Homebuyers, Housing

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Americans continue to repay credit card debt

Jan 28, 2011 |

Moody's announced credit card charge off rates dropped for the fifth consecutive month, and early-stage late payments hit an all-time low in December.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Generation Y overwhelmed by credit cards, finances

Jan 27, 2011 |

Generation Y is being overwhelmed financially, according to an American Express study. Seventy-nine percent say they’re uncertain about their stability.

Category icon Credit Cards, Financial Wellness, Student Debt, Young Consumers

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Free checking accounts, rewards may soon be thing of the past

Jan 26, 2011 |

Due to the effects of recent legislation on the revenue streams of major banks and lenders, debit card users may soon see extra charges on their checking accounts.

Category icon Banking, Credit Cards, Financial Wellness

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HUD awards $76,000 in Housing Counseling Grants to Consolidated Credit

Jan 25, 2011 |

HUD funding is critical to support counseling agencies; Florida ranks third in the nation in foreclosures and there were nearly half a million foreclosures in the state in 2010.

Category icon Company News, Family, Foreclosure, Homebuyers, Housing

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FTC settles with three fraudulent debt settlement firms

Jan 24, 2011 |

Across the country, millions of Americans are suffering under a growing debt burden, and there are a number of companies attempting to turn a profit off these cash-strapped consumers.

Category icon Consumer Rights, Debt Collection

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Credit card bill could lead to more checkout savings

Jan 24, 2011 |

U.S. Rep. Maurice Hinchey is calling for a proposal that would limit interest rates on credit card transactions.

Category icon Credit Cards, Financial Wellness

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Senator calls on president for foreclosure relief

Jan 21, 2011 |

Nearly one million Americans lost homes to foreclosure, leading Senator Merkley to call on President Obama to address issues in the housing market.

Category icon Foreclosure, Housing

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FDIC chair calls for foreclosure claims commission

Jan 21, 2011 |

Consumers who had their homes improperly foreclosed by major banks may be able to receive compensation from a new commission.

Category icon Banking, Consumer Rights, Foreclosure

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Personal loans help consumers avoid credit card debt

Jan 21, 2011 |

As 2010 drew to a close, many Americans focused on limiting their credit card spending and resolved to follow their budgets more closely.

Category icon Credit Cards, Financial Wellness

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Debit users befitting from smaller banks

Jan 20, 2011 |

Due to recent legislative moves by the Federal Reserve, debit card rewards could soon disappear for customers of major banks.

Category icon Banking, Financial Wellness

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Underbanked consumers turn to prepaid cards

Jan 20, 2011 |

As a result of the high volume of charge offs made by lenders in recent years, many consumers now find themselves without access to credit cards.

Category icon Banking, Credit Cards, Debt Advice

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Massachusetts bill could change foreclosure rules

Jan 20, 2011 |

Legislation meant to help the homeowners struggling to avoid foreclosure in Massachusetts could soon be introduced in the state's House of Representatives.

Category icon Foreclosure, Homebuyers, Housing

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Credit unions may offer lower card fees

Jan 19, 2011 |

At the end of 2010 as traditional creditors announced new credit card fees as a means of raising revenue, many Americans moved to alternatives like debit.

Category icon Banking, Credit Cards, Financial Wellness

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U.S. consumers cut charge offs during the holiday season

Jan 19, 2011 |

Despite temptations of new rewards credit card offers and big sales by retailers, many consumers spent wisely in December and made timely payments.

Category icon Credit Cards, Financial Wellness

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JPMorgan CEO admits foreclosure errors

Jan 19, 2011 |

Over the last year, the mortgage lending industry has experienced a number of controversies surrounding the way it foreclosed millions of homes across the county.

Category icon Banking, Consumer Rights, Foreclosure

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Consumer sentiment falls as gas prices rise

Jan 18, 2011 |

Despite continued steps by consumers to pay off existing credit card and mortgage debt and an overall improvement in unemployment numbers, consumer sentiment fell in January.

Category icon Financial Wellness

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Consumers accrue more credit debt on cab fares

Jan 18, 2011 |

Consumers took steps to get their credit card debt under control in 2010, cutting the number of delinquencies to lenders and using more alternative options for regular payments.

Category icon Credit Cards, Debt Advice, Travel

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Fewer consumers say they intend to pay off credit debt

Jan 18, 2011 |

A recent poll, which was meant to assess consumers' borrowing and savings trends, found that Americans were less apt to say they would pay off some or all of their credit card debt in 2011.

Category icon Credit Cards, Financial Wellness

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Credit card users could see higher interest rates this year

Jan 17, 2011 |

Consumers are vowing to improve their finances at the start of 2011, and hoping to put behind a year that was filled with foreclosures, credit card debt and bankruptcy.

Category icon Credit Cards, Financial Wellness

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Managing Personal Finances in 2011

Jan 17, 2011 |

As another decade closes and the New Year brings new possibilities, it’s the perfect time to forge a solid personal finance plan to get out of debt.

Category icon Company News, Debt Advice, Financial Wellness

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Banks leave many foreclosed homes vacant

Jan 17, 2011 |

As a result of the growing number of consumers facing credit card debt, unemployment and other economic problems, neighborhoods across the country have been seeing an increase in vacant homes.

Category icon Banking, Foreclosure, Housing

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JPMorgan adds millions of new accounts in 2010

Jan 17, 2011 |

Despite consumer trends of turning away from credit in favor of alternatives such as cash and debit, one lender reports strong fourth quarter growth.

Category icon Banking, Credit Cards

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Credit issuers avoid working with debt settlement companies

Jan 14, 2011 |

As consumers continue to suffer from high debt, unemployment, and foreclosure, it hasn’t stopped creditors and collection agencies filing lawsuits.

Category icon Consumer Rights, Credit Cards, Debt Collection

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Unpaid credit card bills lead to lawsuits for many

Jan 14, 2011 |

Thousands of California residents are being sued for delinquencies, as lenders begin processing the large number of consumers behind on monthly payments.

Category icon Consumer Rights, Credit Cards

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Consumers with credit card debt should be wary of cash back offers

Jan 14, 2011 |

With credit card use on the decline in recent months, lenders are flooding mailboxes around the country with new offers that aim to increase consumer spending.

Category icon Credit Cards, Debt Advice

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Young people resolve to cut credit card debt, use in 2011

Jan 13, 2011 |

At the start of 2011, polls indicate young Americans are making more financial resolutions for, including to savings and reducing credit card debt.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Arizonans take on more credit card debt to meet living expenses

Jan 13, 2011 |

While many consumers remain optimistic that the economy will recover in 2011, bankruptcies and credit card debt are likely to continue to plague many Americans during the year.

Category icon Credit Cards, Financial Wellness

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Nevada mediation programs helps majority of homeowners

Jan 13, 2011 |

Nevada continues to be one of the hardest hit areas by the recent fiscal downturn, due to a rising rate of bankruptcies, credit card debt and foreclosures.

Category icon Bankruptcy, Credit Cards, Foreclosure, Homebuyers, Housing

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Recent ruling could help foreclosed homeowners

Jan 12, 2011 |

Federal and state investigations into how banks contributed to the foreclosure crisis have led to some homeowners being able to avoid eviction.

Category icon Banking, Consumer Rights, Foreclosure, Housing

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Watchdog agency warns of debt settlement scams

Jan 12, 2011 |

The Better Business Bureau released new warnings this week that advise consumers to remain wary of debt settlement scams, despite recent prosecutions and legislation.

Category icon Consumer Rights, Debt Collection

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Home prices may recover by mid-2011

Jan 12, 2011 |

Across the country, millions of homeowners are still struggling with high credit card and mortgage bills and are attempting to stave off foreclosure.

Category icon Financial Wellness, Homebuyers, Housing

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Coalition of major public pension systems calls for foreclosure review

Jan 11, 2011 |

In 2010, many consumers faced challenges of prolonged unemployment, mounting debt and the prospect of foreclosure on their homes.

Category icon Banking, Consumer Rights, Foreclosure

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Lenders still tempting students towards credit card debt

Jan 11, 2011 |

Despite federal government attempts to curb the presence of credit card companies on college campuses, Credit CARD Act may not be preventing debt.

Category icon Credit Cards, Student Debt

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Credit card, mortgage loan delinquencies see third quarter decline

Jan 11, 2011 |

During the third quarter, consumers continued to struggle with unemployment and debt, resulting in fewer timely payments and increased delinquencies.

Category icon Credit Cards, Homebuyers, Housing

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Legislation could help curtail consumer credit card use

Jan 10, 2011 |

A current Federal Reserve proposal, aimed at cutting debit card transaction fees for merchants, could help steer consumers away from accumulating credit card debt on purchases.

Category icon Credit Cards, Financial Wellness

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Credit card debt drops again in November

Jan 10, 2011 |

November marked the 27th straight month U.S. consumers cut their overall borrowing, the Federal Reserve announced on Friday.

Category icon Credit Cards, Debt Relief

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Consumers face debt, dropping home prices

Jan 10, 2011 |

Since the recent recession, many consumers have been struggling with their mortgages, often turning to their credit cards to hold off the threat of foreclosure.

Category icon Homebuyers, Housing

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Bank of American testing new account fees

Jan 07, 2011 |

As a result of recent legislative moves by Congress and the Federal Reserve, major banks have been struggling to raise revenue leading many to raise fees on consumer accounts.

Category icon Banking, Consumer Rights

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U.S. Senators fight new mortgage rules

Jan 07, 2011 |

Since the onset of the recession, many Americans have been struggling with the financial weight of mortgage payments and are looking to fight lenders over allegedly improper foreclosures.

Category icon Consumer Rights, Homebuyers, Housing

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Consumers’ credit card debt could rise by making minimum payments

Jan 06, 2011 |

While consumers have been making strides to pay down debt recently, many are still struggling with overdue credit card payments.

Category icon Credit Cards, Debt Advice, Homebuyers, Housing

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New contest announced for getting rid of credit cards

Jan 06, 2011 |

Last holiday season, many consumers vowed to do away with their credit cards once and for all, choosing instead to use cash, check and debit cards in order to avoid increasing their debt.

Category icon Credit Cards, Financial Wellness

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Credit card debt becomes a major pre-recession regret

Jan 06, 2011 |

Following the recession, many Americans took steps to curb bad financial habits; however, many still have regrets over how their finances were handled.

Category icon Credit Cards, Debt Advice, Financial Wellness

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Cell phone credit comes closer to consumers’ pockets

Jan 05, 2011 |

Advances in technology have led many industry experts to predict smartphones could replace credit and debit cards as the most-used payment method.

Category icon Articles

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Avoiding debt from prepaid cards may be easier

Jan 05, 2011 |

As many Americans continue to struggle with credit card debt and other economic troubles, more consumers are turning to alternative forms of payment, such as cash, checks and prepaid cards.

Category icon Credit Cards, Debt Advice

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Rising gas prices could keep consumers from paying down credit debt

Jan 05, 2011 |

Recently, consumers have been filtering most of their monthly earnings toward paying down past bills and credit card debt, while cutting their overall spending.

Category icon Credit Cards, Debt Advice

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Hawaii residents struggling with mortgage problems and credit debt

Jan 04, 2011 |

In spite of recent increases in the state's tourism industry and minor recovery in housing prices, many Hawaii residents are still struggling with mortgage problems and credit card debt.

Category icon Financial Wellness, Homebuyers, Housing

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Retailers urge Federal Reserve to drop credit debt reduction rule

Jan 04, 2011 |

A new proposed rule would require credit card issuers to consider individual income rather than household income when assessing risk on new applications.

Category icon Consumer Rights, Credit Cards

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Cash back rewards could equal more credit debt

Jan 04, 2011 |

Cash back credit cards have become one of the most popular lending tools offered by lenders, as consumers are eager to increase their savings.

Category icon Credit Cards, Debt Advice

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Multiple credit cards could lead to student debt

Jan 03, 2011 |

In recent years, the total amount of student debt has escalated, leaving currents students and graduates under heaps of student loan and credit card debt for years to come.

Category icon Credit Cards, Student Debt

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Recasting can help cut mortgages, credit card debt, new report says

Jan 03, 2011 |

Homeowners looking to cut down on their credit card expenditures for monthly mortgage payments may be able to apply for little-known alternatives that could help their budgeting.

Category icon Homebuyers, Housing

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Americans still struggling with credit card debt despite recent trends

Jan 03, 2011 |

Consumers have made strides to curb spending and cut credit card; despite this work, many still have a long way to go before achieving stability.

Category icon Credit Cards, Financial Wellness

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"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
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Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

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