New Orleans The Dodd-Frank Financial Reform Act called for the Federal Reserve to put an end to the debit card surcharge padding when that retailers were paying to banks and credit card companies, usually amounting to 44 cents a transaction. New Fed proposals would cap the amounts at 7 to 14 cents, about an 80% …
Tag: predatory lending
Laundry List for new Consumer Bureau
New Orleans After much sound and fury the Obama Administration seems to have slipped Professor Elizabeth Warren in through the side door of the White House to setup the new Consumer Financial Protection Bureau. It’s all confusing since the Bureau is squeezed between the Federal Reserve and Treasury Departments, and Warren herself has been snuck …
Silver Lining on Home Equity Loans
New Orleans In some ways we all eventually come to grips with the fact that we are a “product of our raising,” as the expression down here goes and in the case of personal real estate and personal debts, I was my father’s son: conservative! When he retired after 38 years with an oil company, …