Stocks rallied Monday after an encouraging report on existing-home sales and a pullback in the dollar.
Stocks opened higher Monday as the dollar pullled back and gold hit a new record above $1,170 an ounce. The Dow was up more than 100 points at the open and continued higher after a report showed a sharp jump in existing-home sales.
A holiday-shortened trading week begun with all signs pointing to a higher open for Wall Street on Monday, with the dollar weakening and gold hitting a new record high above $1,167 an ounce.
For the first time in a decade, more people paid their credit card bills on time in the third quarter this year than in the second quarter.
Major retailers and card companies are reporting credit card data for October...with mixed results.
Banks are struggling to make money in the credit card business these days, and consumers are paying the price. Interest rates are going up, credit lines are being cut and a variety of new fees are being imposed on even the best cardholders. The New York Times reports.
Banks expect to tighten terms on credit cards in response to a new law that aims to protect consumers from sudden rate hikes, the Federal Reserve said Monday.
Consumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions.
Visa reported strong earnings that topped last year's and outstripped Wall Street forecasts. Craig Maurer, equity analyst at Calyon Securities, discussed his outlook on the firm and other credit card companies going forward.
American Express reported a profit that fell from a year ago but topped Wall Street's expectations as the credit card company trimmed costs, a decline in consumer spending stabilized and bad loans eased.
With a key Congressional committee beginning markup of legislation creating a consumer financial products watchdog, the Federal Reserve's unusual role as a source of funds will likely draw attention.
Consumers are increasingly late paying off loans on their primary home, as the highest unemployment in a quarter of a century pushes up delinquency rates on most types of loans.
A combination of falling revenues, high debt and tougher lending standards by banks has pushed up dependence on alternative lenders in the UK.
The best mortgage rates are not necessarily offered by the big volume players or the bank where you currently do your checking. Instead, they can often be found at smaller banks and credit unions.
This stock’s a great play on the move from paper money to plastic cards.
Bank of America on Tuesday pledged not to hike credit card interest rates or fees before a new law intended to reform industry practices takes effect in February.
Consumers will end up paying more money to banks if the numerous regulations proposed for the financial sector come to fruition, said Dick Bove, financial strategist for Rochdale Securities.
Banks and credit unions have long pitched debit cards as a convenient and prudent way to buy. But a growing number are now allowing consumers to exceed their balances — for a price.
The man accused of masterminding the largest identity theft in U.S. history agreed to plead guilty to related charges, according to court papers filed in Boston federal court Friday.
The rate at which credit card holders fell behind on their payments was far worse in the second quarter than it was last year, but did improve sharply from the alarming level seen in the first three months of 2009.