Dave Ramsey has it so wrong

I often wonder why people listen to Dave Ramsy when he has a history of being so wrong on almost every financial statement he has ever made. However; his response really takes the cake –  “Paul” sent a letter to Dave asking how to handle and interact with debt collectors. Dave’s response was so astonishingly […]

Senator Warren to CFPB Director: “You Should Resign”

U.S. Senator Elizabeth Warren (pictured) told Consumer Financial Protection Bureau director Kathy Kraninger she should resign over her handling of the agency’s response to the Covid-19 pandemic. Warren (D-MA) made the remarks during a Senate Banking Committee hearing last Wednesday. “Your leadership has been a miserable failure based on your actions in this pandemic. You […]

When to Apply for a New Credit Card

This may be a good time for consumers to apply for a new credit card despite the economic downturn due to Coronavirus. CNBC reports that new applications for credit cards fell by 40 percent from the first week in March. A Consumer Financial Protection Bureau report examining the effects of the COVID-19 pandemic found that […]

Zombie Debt: Are You At Risk?

If you have old debt that’s been on the books for years, you might think that it’s no longer collectable and you can forget about it … but don’t be so sure. There is a statute of limitations on debt. In states, it’s usually two to four years. At the federal level, seven years is […]

Judge's Gavel

Fifth Third Bank Sued Over Creation of False Accounts

A lawsuit was filed in March in federal district court in the Northern District of Illinois against Fifth Third Bank, charging the institution with opening deposit and credit card accounts in consumers’ names and then transferring funds from consumers’ existing accounts to the new, improperly opened accounts. Consumers were also enrolled in unauthorized online-banking services, […]