The scandal involving the creation of fake customer accounts at Wells Fargo rocked the financial world. Worse yet, it violated the trust of consumers, and in some cases, billed customers for unknown fees or negatively impacted credit scores. The fallout could continue for years to come, but consumers could have some closure soon.
In a series of posts dating back to March, our blog has been discussing just how disappointing it can be for those pursuing an education, new home, business opportunity or other venture to see a financial institution deny their application for much-needed funds, effectively putting their dreams on hold.
Last week, out blog began discussing how clauses dictating that legal disputes must be resolved in private arbitration rather than the courts are buried deep within the language of many contracts, particularly those proffered by the financial industry.
It's safe to say that the majority of people, whether they are making an online purchase, renting a car, applying for a credit card or engaging in any sort of transaction, choose not to read through the many pages of boilerplate before signing on the dotted line.
In a post last week, our blog began examining how Congress, via a provision buried deep within the 2015 highway funding bill, called upon the Internal Revenue Service to once again start outsourcing some collection efforts to third party debt collectors
When most people hear the term debt collector, they invariably envision those companies attempting to collect money owed to purely private enterprises. In other words, the last thing they think of is government entities.
One of the many consequences of the recent recession was that lenders became far more reluctant to extend other types of credit outside of just home loans. Interestingly enough, however, there was at least one anomaly: auto loans. Indeed, this type of credit proved readily available during these turbulent economic times, a trend that has continued to the present day with total auto debt in the U.S. now sitting at over $1.1 trillion.
Back in April, we discussed how the number of justices on the Supreme Court of the United States was finally restored to nine, as Justice Neil Gorsuch officially took his place on the bench for oral arguments.
In a series of posts, we've began exploring how those individuals who find themselves in the unenviable position of having a loan application rejected -- whether for a home purchase, business opportunity, educational pursuit or other prospect -- shouldn't be too hard on themselves, as financial institutions often decline to extend the necessary funds.
The population of older Americans here in the U.S. is growing at a remarkable rate, fueled almost entirely by the baby boomer generation, whose members are enjoying longer, healthier lives. If you don't believe it, consider that statistics show as many as 10,000 Americans are turning 62 every day.