July 28th, 2014

Credit Card Delinquencies Fall in 2014

Credit Card Delinquencies

In the world of finances, old wounds appear to be healing. Well, not completely, but there’s reason to be optimistic about the credit card debt that many Americans accumulated during the recession. According to recent data from the American Bankers Association (ABA), Americans are meeting their payments at record pace. In the first quarter of the year, late payments fell to 2.44 percent of all accounts. This is a large decline from the previous quarter’s 2.60 percent and the 15-year average of 3.82 percent.

Shift in Attitudes

The impressive statistics above refer to accounts that were delinquent by 30 days or more. On the more serious end of the spectrum, the Federal Reserve Bank of New York reported that 8.5 percent of credit card debt was 90 days past due in the first quarter of this year. This may still sound like large portion of accounts, but it’s actually the lowest it’s been since 2003.

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July 25th, 2014

State of Illinois Sues Debt Settlement Companies Over Student Loan Practices

State of Illinois Sues Debt Settlement Companies Over Student Loan Practices

Last week, Illinois Attorney General Lisa Madigan announced that the state would be filing a lawsuit against two debt settlement companies, Broadsword Student Advantage and First American Tax Defense, over their student loan practices.

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July 22nd, 2014

Millennials Make Up 40 Percent of the Unemployed

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According to recent analysis by Georgetown University, millennials make up nearly 40 percent of the unemployed population. Find out more about the implications.

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July 21st, 2014

Many Americans Have Less Than Three Months in Emergency Funds

Many Americans Have Less Than Three Months in Emergency Funds

Each month, Bankrate’s Financial Security Index attempts to capture the American financial climate. The biggest, and most concerning, takeaway from the June survey is that half of Americans have no more than a few months’ expenses saved away.

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July 18th, 2014

Security Improvements Still on Hold for U.S. Credit Cards

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U.S. credit card issuers have until October 2015 to replace consumers’ credit cards with more secure EMV cards. Read more here.

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July 16th, 2014

Department of Education Issues More Changes to Student Loan Regulations

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With summer fully underway, school and student loans are probably far from your mind. The U.S. Department of Education understands. That’s why they’re giving you time to review and comment on their newest changes over the next few months.

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July 15th, 2014

College Graduates’ Job Expectations Don’t Match Reality

College Graduates’ Job Expectations Don’t Match Reality

A college diploma can’t guarantee success. It tips the odds in your favor when you’re competing against somebody with less education, but that doesn’t mean that the hard work is over. When you walk across that stage in your cap and gown and exit the college bubble, you’re replacing the stress of schoolwork with the stress of the workforce. And the scary bit is that this transition is not always fluid if you’re not ready for it.

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July 14th, 2014

Some Hospitals Are Using Credit Card Information to Predict Health Problems

Some Hospitals Are Using Credit Card Information to Predict Health Problems

There’s your credit score, your auto insurance score, your home insurance score – and your health risk score? Bloomberg Businessweek is reporting that Carolinas Healthcare, a network of hospitals, urgent care centers and doctor’s offices in North and South Carolina, has partnered with data providers to collect and analyze consumer data on potential patients. They’re now taking information from credit card purchases, public records and store loyalty programs to better assess the likelihood that a given person will get sick. The collected information is then translated into a risk score that could potentially be distributed to doctors and other medical professionals in the future.

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July 11th, 2014

New Study Shows More People Working Through Retirement

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Traditionally, retirement is viewed as a time of leisure, rest and relaxation. After working for 30 or 40 years, retirees expect to take a load off and do things that they enjoy. Now, though, more and more people are choosing to continue working after retirement.

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July 9th, 2014

U.S. Places 4th out of 15 Countries in New Retirement Study

U.S. Places 4th out of 15 Countries in New Retirement Study

It’s no secret that the nature of retirement is changing. In the wake of recent economic turmoil and in the context of concerns about the health of our Social Security system, it wouldn’t be too surprising to find many Americans feeling pessimistic about their retirement plans. The results of a new survey, however, might be cause for some optimism.

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