(jczart)

New Rule Means Banks Will Have To Make Sure Borrowers Can Actually Repay Mortgages

When the housing market collapsed five years ago, it was due in no small part to mortgage lenders who handed out loans without really considering whether or not the borrower could ultimately pay that money back. Hoping to minimize the chances of this happening again, regulators have introduced a new rule today. [More]

Thanks to Eric for the pic!

This Restaurant Really Wants You To Know Why It Can Now Require $10 Minimum For Credit Card Purchases

Rather than your typical hand-drawn sign letting customers know that they must buy at least $10 worth of stuff in order to use their credit card, this restaurant goes a step further and (sort of) cites the law that gives it the right to require the $10 minimum. [More]

Big Businesses Admit Being Really Bad At Math… When It Comes To How Much A CEO Earns

Big Businesses Admit Being Really Bad At Math… When It Comes To How Much A CEO Earns

In March, a group of two dozen lawmakers prodded the Securities & Exchange Commission to finally get around to enforcing Section 953(b) of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires publicly traded companies to disclose the ration between CEO pay and the median pay for the rest of their employees. Now that the SEC is prepping to release those rules, these companies are suddenly claiming a lack of basic math skills. [More]

More New Debit Card Fees Loom

More New Debit Card Fees Loom

Banks are making less money when you swipe your credit and debit cards because of new caps on interchange rates, the fee that they charge to process each of these transactions, that go into effect on July 1st. They have to make the money up somehow! We’ve seen new fee-incurring tripwires on checking accounts, and now they’re dreaming up even more fees for debit cards. Here’s what’s on their wishlist: [More]