They may not be hopeful that the U.S. economy will rebound any time soon, but most Americans are optimistic about the future of their own personal finances. A newly released national survey conducted by KRC Research for the Certified Financial Planner (CFP) Board of Standards, Inc. finds that 83 percent of the 1,011 adults polled [...]

Customers of popular arts-and-crafts retailer Michaels recently learned that they got something extra with their purchases:  debit card fraud.  Authorities say that debit card readers in 80 Michaels stores in 20 states were surreptitiously outfitted with skimming devices, designed to read card and personal identification numbers, or PINs.  The fraud occurred between February and early May [...]

Experts are weighing in on whether the death of Osama bin Laden is just what the world needs to boost economic recovery. While some economists see the al Qaeda leader’s death as a game changer for the global economy, others see it simply as having a temporary effect on the markets. “The nation finally caught [...]

Home prices may be at their lowest in four decades and mortgage rates continue to hover around a low of 4.5 percent, but they are not enough to encourage an influx in home ownership. Experts say the core reason is buyers are not confident a house is a safe investment. “The magnitude of the housing [...]

Like debt consolidation scams, homeowners who are struggling to stave off foreclosure have been prime targets for scams in the recent years. Now, the Better Business Bureau is warning consumers of yet another new twist on mortgage relief scams. The BBB reported that homeowners have been receiving official-looking letters from out-of-state law firms that invites [...]

Mortgage brokers are threatening massive layoffs of loan officers if a new federal rule takes effect April 1 that prohibits them from earning a larger commission on mortgage loans with high interest rates. The regulation is part of the Truth in Lending Act and Home Ownership and Equity Protection Act aimed at protecting consumers from [...]

Arriving in your local area later this year is Economia: Money Matters, an 8,000-square foot traveling museum filled with interactive multimedia displays designed to take visitors on a personal finance journey. The financial literacy traveling museum is the brainchild of Gail Vida Hamburg, CEO and founder of Rainworks Omnimedia LLC, a Chicago, Illinois-based producer of [...]

Remember the political catch phrase, “It’s the economy, stupid,” used by Bill Clinton during his victorious 1992 presidential campaign against President George H.W. Bush? Well, if results from a recent poll are any indication, expect Republicans to dust off the successful slogan and use it freely during the 2012 elections to take control of the [...]

Expectations of retiring early and enjoying a comfortable retirement lifestyle have all but disappeared as the 2011 Retirement Confidence Survey finds that Americans have accepted working into their 70s because they won’t have enough money saved for retirement until then. Conducted annually by the nonpartisan Employee Benefit Research Institute (EBRI) and Mathew Greenwald & Associates, [...]

Although the March 11 earthquake and tsunami in Japan will hurt the country’s already struggling economy, economists are optimistic that the impact to the global economy will be minimal. Japan’s government leaders met days after the quake to assess economic damage, with Chief Cabinet Secretary Yukio Edano declaring that, “The quake is expected to have [...]

‘It’s not much, but it’s something’ best describes the expected economic growth for 2011. During a recent speech at a global finance conference in New Delhi, India, Terrence Checki, executive vice president at the Federal Reserve Bank of New York, said the U.S. economy is expected to grow 3.5% to 3.9% in 2011. “The economy [...]

Things are heating up in the U.S. House of Representatives as Republicans introduce legislation that would do away with mortgage modification programs aimed at helping homeowners avoid foreclosure and assisting local governments with addressing foreclosed properties. With a 33-22 vote, the House Financial Services Committee passed the bill that would end the Home Affordable Modification [...]

Although the economy is showing signs of improving, a new survey finds that the Great Recession has taken a major hit on Americans’ personal finances. The study, commissioned by the American Savings Education Council and the America Saves campaign, finds that people are unable to save money and they are extremely concerned over it. According [...]

Although the latest national survey from the Mortgage Bankers Association finds mortgage delinquency rates on the decline, there’s little else to celebrate. The report also finds that the mortgage delinquency rate is still higher than the norm and the number of houses in various stages of foreclosure returned to a record high. Furthermore, the Obama [...]

Expect to see a slow demise of Fannie Mae and Freddie Mac. The much anticipated report from the U.S. Department of the Treasury and U.S. Housing and Urban Development released Friday paints a dim picture for the future of the two mortgage finance giants. The Obama administration’s recommendation for housing finance reform is to downsize [...]

President Obama is putting the nation’s economic woes on the backs of businesses, urging them to start hiring in an effort to grow the economy. In a speech to U.S. Chamber of Commerce members, Obama stressed to business members that “we can and must work together” to promote economic growth, adding that “businesses also have [...]

It used to be that workers were able to leave their personal problems at the door of their workplace. But that’s not the case anymore when it comes to personal finances in these tough economic times. Businesses, including major corporations, are seeing personal financial stress affect job productivity and quality of work. And they are [...]

Taking the lead in mortgage reform, Jamie Dimon, CEO of JPMorgan Chase, the second largest bank in the country, says the current mortgage situation is a “mess.” JPMorgan Chase owns billions in troubled mortgages, a result of its acquisition of Washington Mutual. Nevertheless, Dimon is calling for a major top-to-bottom overhaul of the U.S. mortgage [...]

The new website of the Consumer Financial Protection Bureau (CFPB) is up and running and ready to take consumer comments on how financial institutions can make their financial products and services easier to understand. “We have the opportunity to create a brand new consumer agency from the ground up. This agency will put a cop [...]

The economy is getting a big helping hand from an unexpected source – private equity. This is cash that professional investors receive from hedge funds, pension funds, insurance companies and the like and invest into businesses that they feel have the potential to improve or grow. “These people are experts at helping companies grow to [...]