Encouraging the financial industry to explore faster payments is all well and good. Effectively directing it to do so, however, is beyond the Fed's authority.
Affordable pre-paid cards and checking accounts targeted at low-income customers are among the positive trends likely to gain steam in the months ahead.
The traditional method of measuring mortgage denials is fundamentally flawed. Evaluating not just the quantity but also the quality of mortgage applicants can give a clearer picture of actual denial rates.
Former Miss America Bess Myerson helped overhaul Citi's consumer loan contracts in the 1970s. Then she turned her attention to cleaning up the bank's collections unit.
As a consultant to Citibank in the 1970s, former Miss America Bess Myerson helped spearhead landmark consumer reforms Â-- including the first plain-language agreement in the financial services industry.
Even if arbitration does turn out to be beneficial for many consumers, Americans should not lose their constitutional right to a day in court without being aware that they are doing so.
