The new American Express film Â"SpentÂ" offers an opportunity to consider the some emerging strategies aimed at helping low-income and struggling middle-class Americans avoid or get out of debt.
Just because mortgage lenders are reducing credit score cutoffs doesn't mean they are recklessly increasing their risk exposure. The relationship between credit scores and borrowers' probability of default changes over time.
Repurposing the CRA to root out discrimination based on race and ethnicity risks undermining the CRAÂ's primary objective: to encourage banks to provide credit-related services in lower-income communities.
A reporter spent a day trying to cash checks, send money and complete other financial transaction without the use of a bank account. He was surprised by what he saw.
Alternative lenders provide a necessary service to small business ownersÂ--but some loans carry excessive costs. Financial innovation and greater competition can help bring prices down.
A proposed bill would allow banks to receive a one-time tax credit for charged-off consumer debt. Banks would then donate the debt to non-profits dedicated to helping consumers repay their loans without resorting to litigation or charging interest.
