Tag Archives: banks

Can fintech revolution preserve consumer protections?

Fred Williams

At a daylong forum about new banking technology, one question electrified the audience. “Do consumers still need a bank?” asked Grovetta Gardineer, a senior staffer at the Office of the Comptroller of the Currency, the 153-year-old regulator of national banks.…
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When was easy credit really affordable?

Julie Sherrier

I just read Fortune magazine’s article on famed financial forecaster Meredith Whitney’s predictions on the future of credit, of which she says there will be little to go ’round.

To sum it up quickly, she says the new Credit CARD Act’s restrictions on card issuers — especially in regard to restrictions on instant interest rate increases — will, in effect, prevent banks from lending “en masse” like they had before.

Her conclusion: small businesses, the unbanked population and consumers who rely on credit cards to make ends meet will turn to predatory lenders and end up paying dearly in fees and interest rates.

But weren’t we already paying dearly for our debt?

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Emily’s list: Super Bowl edition

Emily Crone

In this week’s Super Bowl-themed roundup, read about some of the very best credit card- and debt-related posts in the blogosphere from the past week.
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What does Dodd departure mean for credit card and financial reform?

Connie Prater

Fate of consumer financial protection watchdog agency less certain with pending shake-up in U.S. Senate banking committee.
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Second Life bans gambling, predatory banks

Emily Crone

Second Life, a virtual online world, has its own currency that can be traded out for real money. Virtual gambling was recently banned in Second Life, and on Jan. 22, due to the fact that a loss of virtual money means a loss of real money, unchartered banks will no longer be welcome, either.
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