The current spike in gloomy economic news after reaching the I-think-I've-heard-enough-for-now stage, reminded me of and inspired me to take up the challenge of seeing if I could comply with that great Johnny Mercer lyric to the song entitled: Ac-Cent-Tchu-Ate The Positive. If … [Read more...] about Accentuate the Positive and Eliminate the Negative?
Banking and Finance Law
FDIC Insurance Update
Last summer, a law was enacted that raised the standard maximum deposit insurance amount (SMDIA) to $250,000. The law made permanent a previous temporary increase to $250,000 from the former maximum limit of $100,000. The new permanent maximum limit should especially benefit … [Read more...] about FDIC Insurance Update
Bank Accounts Are A-Changing
In the last year, new Federal Reserve Board rules have reined in the ability of banks and other financial institutions to impose charges and fees for some of their services. Issuers of credit cards generally cannot increase the interest rate on a card for one year after the … [Read more...] about Bank Accounts Are A-Changing
Credit CARD Act
Recently, the Credit Card Accountability, Responsibility, and Disclosure Act of 2009 (the Credit CARD Act) went into effect. Congress saw a pressing need to protect consumers from abusive fees, penalties, interest rate increases, and other unjustified changes in the terms of … [Read more...] about Credit CARD Act
FDIC Insurance Update
In October 2008, Congress increased the basic limit on federal deposit insurance coverage from $100,000 to $250,000. The limit is scheduled to return to $100,000 on January 1, 2014. The temporary limit now in effect has not changed the fact that a customer has various means by … [Read more...] about FDIC Insurance Update
$200,000 for Identity Theft Victim
Nicole discovered that someone with a name very similar to hers had stolen her identity and opened fraudulent accounts in her name and under her Social Security number. This was only the beginning of a long and arduous saga in which she took all of the recommended steps to … [Read more...] about $200,000 for Identity Theft Victim
