Credit Card Offers

No doubt, Sony’s PlayStation Network breach has left many wondering how safe their credit card information is when it’s stored online. My 15-year-old son plays Xbox LIVE, which so far, seems safe. But I’m sure parents of kids who played on the PlayStation Network thought their data was safe, too.

So I decided to take a 3-hour tour of Xbox LIVE with my son. Who better to show me all the millions of opportunities where he can spend my money? He’s been on Xbox LIVE for two years and I was stunned by how much more is offered since I’d last taken a good look at the site.

I went through all the terms, and let me tell you, this alone can take three hours if you’re a slow reader. When you si

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I recently heard about a consumer who, nine years after declaring bankruptcy, qualified for a mortgage. Apparently her financial life was back on track, but when she later applied for a credit card, she was rejected.  The consumer guessed it had to do with her bankruptcy record, since some bankruptcies stay on your credit report for up to 10 years. But then why would a bank approve her for a mortgage?

Hmmm.

I tapped Tom Quinn, our resident credit expert for some additional hypotheses. We don’t know much about this woman’s credit history, other than her bankruptcy in 2002, so a number of factors could have been at play. To r

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Last week I expressed my concern over efforts in Congress to delay, defang and ultimately defund the Consumer Financial Protection Bureau. I called upon consumers to rebel against being treated as little more than pachyderm toe-jam and to send a clear message in 2012 to those in Congress who have been the spear carriers for business.

My consternation over the GOP’s crusade to derail the first truly powerful and focused national consumer protection agency, however, pales in comparison to my concern over the failure of both parties to meaningfully address through federal legislation the issues of data protection and breach notification in the face of a raging pandemic of database compromise.

The numbers are staggering. S

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Today’s top news headlines feature common financial issues many couples face and reasons a large percentage of Americans are exempt from federal income taxes. Plus, find out the details of Bank of America’s $20 billion settlement.

Financial Dishonesty Common Among Couples CNN Money A recent survey reveals financial infidelity among couples who share their income is higher than some people may think, with 31 percent of participants admitting they have been dishonest about money. Thirty-four percent say they have lied about income or debt and more than 50 percent have hidden purchases or money from their partner. Six

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Will states have the power to defend themselves against abusive bank policies? Or will a federal agency cozy with the nation’s largest banks prevent the states from doing anything? That’s the issue at the heart of an uncommonly public fight between two bank regulators with very different ideas about how best to protect consumers.

The issue came to a head this week when George W. Madison, top lawyer at the U.S. Tre

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A new survey from Cisco confirms that the young like to DIY, even when it comes to handling their money. Cisco interviewed folks under 50 with more than $500,000 in investable funds about how they manage their wealth and investments and found that increasing, they’re turning to Facebook and the Internet instead of a financial manager sitting behind a huge oak desk.

More than 25 percent of the demographic had switched financial advisors in the last two years (compared to 7 percent of older respondents), and a third planned to leave their current adviser within the next year (versus 8 percent). W

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