According to the latest numbers from the Dept. of Education, there was a sizable increase in the percentage of college students who defaulted on their student loans in 2009. [More]
Bank Of America Confirms 30,000 Jobs To Be Cut In Coming Years
By September 12, 2011
Only a few days after a report that Bank of America could be looking to axe upward of 40,000 employees in the next few years, the bank has released a statement today that gives the actual number of positions to be eliminated as 30,000. [More]
Bank Of America Could Cut Upward Of 40,000 Jobs
By September 9, 2011
Remember Bank of America’s recent estimate that it would have to eliminate at least 3,500 jobs? Well, it looks like that number may have been just the tip of a very large iceberg. [More]
Are Cost-Conscious Parents Being Less Generous With Diaper Changing?
By September 6, 2011
The recent tough times have forced many parents to pay closer attention to the bottom line. But are they doing so at the expense of their babies’ bottoms? [More]
Consumer Confidence At Lowest Level Since 2009
By August 30, 2011
Jitters over this summer’s debt-ceiling showdown helped push consumer confidence to its lowest level in more than two years. With unemployment levels still high and housing prices remaining low, “there is basically nothing for consumers to be confident about,” analyst Gennadiy Goldberg told Reuters. [More]
White House Picks Princeton Prof. Krueger For Top Economic Adviser Gig
By August 29, 2011
Now that economic adviser — and Consumerist pal — Austan Goolsbee has departed the White House, President Obama has a spot to fill. Today he announced the choice of Princeton labor economist Alan Krueger to be chairman of the White House Council of Economic Advisers. [More]
Consumers Spent A Bit More Than Expected In July
By August 29, 2011
A 0.8% increase in consumer spending may not seem like something to throw a parade over. And really, it’s not. But it is the largest gain in 18 months and the first increase of any sort since April, so it’s a reason to not frown. [More]
County Tells Foreclosed-Upon Homeowners: We May Have Some Money For You
By August 25, 2011
The typical image of a foreclosure auction involves a seized house being sold for, at best, the remaining value of the mortgage. But that’s not always so, with some auctions attracting buyers who pay above what’s owed on the home. That money usually belongs to the former owner, but it looks like many aren’t aware of this fact. [More]
Social Security Disability Payments Could Dry Up In 2017
By August 22, 2011
The Social Security disability fund may not be able to make payments come 2017, according to a new analysis by the Congressional Budget Office (CBO). [More]
Number Of Delinquent Mortgages Sneaks Back Up
By August 22, 2011
After several quarters of decreasing mortgage delinquency rates, that number saw a slight uptick in the second quarter of 2011, according to the Mortgage Bankers Association’s latest survey data. [More]
Bank Of America To Cut 3,500 Jobs, Thousands More Could Also Be Axed
By August 19, 2011
The nation’s largest bank is trying to get a wee bit smaller — at least in terms of payroll. A newly uncovered memo reveals that Bank of America plans to cut at least 3,500 jobs in the upcoming months, with the possibility that thousands of additional positions could also be eliminated. [More]
30-Year Mortgage Rates Now Lowest Ever, People Still Aren't Buying
By August 18, 2011
It’s like that scene in Groundhog Day, where Chris Elliott’s character enters the Punxsutawney bachelor auction and is greeted by dead silence from the women in the crowd…. Once again, mortgage rates have dropped to record lows while potential home buyers continue to hold off on making a purchase. [More]
Late Credit Card Payments At Lowest Rate Since Mid '90s
By August 16, 2011
We mentioned a few weeks ago that more Americans have begun paying down their credit card debt during the last two years rather than maxing out their accounts with stuff they can’t afford. Now comes another sign of more responsible behavior… the rate of late credit card payments is the lowest it’s been in 17 years — .That’s an entire Bieber! [More]
The 10 Best Towns In America That Also Have Affordable Homes
By August 15, 2011
Once again, the folks at Money magazine have scoured the map of these fifty, nifty United States (from 13 original colonies) and, factoring in everything from jobs to schools to weather to stuff-to-do, come up with their list of the 100 Best Places To Live. But which of these towns have homes you can afford to buy? [More]
Mortgage Rates Hit Record Low
By August 12, 2011
It continues to be a buyer’s market out there — for those with enough money to make a down-payment on a home at least — as mortgage rates continue to sink to historically low levels. [More]
64% Of Americans Can't Pay For $1,000 Emergency
By August 10, 2011
If you had to fork over $1,000 right now, would you be able to do so without borrowing money or using your credit card? If so, then a new survey from the National Foundation for Credit Counseling says you’re in the minority. [More]
Stocks Up After Days Of Bleeding
By August 9, 2011
After swooning on Monday following S&P’s downgrade of US bonds, stocks posted gains on Tuesday as investors saw the over-reaction as a buying opportunity. Now investors look to see what the Federal Reserve policy board might say after their meeting later today. [More]
Consumer Sentiment Index Hits 20-Month Low
By August 9, 2011
Our corporate cousins at Consumer Reports have released their monthly index of overall consumer sentiment, and it looks like all the worrying about the debt ceiling has caused the sharpest month-to-month drop in the index in two years and the lowest result since December 2009. [More]
