Pro athletes often seem uniquely poised for epic declarations of bankruptcy, but baseball legend Lenny Dykstra is giving other sports figures a run for their money (so to speak). Former Mets and Phillies slugger Dykstra filed for bankruptcy last week with reported assets totaling $50,000, despite claiming in April that he was worth $60 million. According [...]
07/13/09 – Consumers Feeling the Pinch of New Banking Fees CEEL Reminds Consumers to ‘Read Fine Print,’ Releases Survey Showcasing Overwhelming Need for More Economic and Financial Education WASHINGTON D.C. — Data from the federal government estimates that U.S. banks will collect more than $38 billion in fees this year from consumers who overdraw their [...]
Overdraft fees netted nearly $37 billion for banks in 2008, and with so many major financial institutions like Bank of America hurting for cash this year, consumers can expect an assortment of banking charges to climb even higher in 2009. It’s a double whammy for money-strapped Americans because the people most likely to get slapped with [...]
There are increasing reports that some couples are putting off marriage and having kids until the economy improves. Though strained finances and a bad economy can break some families apart, 4 percent of people surveyed say despite being unhappily married, they are holding off on divorce because of the economy. The survey–conducted by FindLaw.com–also found [...]
Wall Street Journal columnist James Stewart has a great piece this week, about how fleeting good fortune can be, and how important it is to manage your money responsibly. I really recommend reading the whole thing, but here’s a few highlights (emphasis added): Our culture often glorifies financial success, but it is an illusion to [...]
Everyone knows that people in the banking, real-estate, and retail industries are likely to be looking for work these days. But the newest profession to fall victim to the recession? Child care. A columnist for the San Francisco Chronicle is balking at the high cost of finding a competent babysitter so she can enjoy a night [...]
It may seem like an unlikely thing for a central bank to do — after all, they primarily deal with high-level banking and monetary concerns, not problems facing individuals — but the Fed is making an effort to speak directly to U.S. consumers through its website. Their Consumer Information page contains a number of tips [...]
A new study predicts that the credit card industry “will continue to provide one of the most lucrative returns…within banks’ portfolios.” Though President Obama signed into law new regulations on credit card companies in May, many companies in the industry continue to report strong profits. The analysis comes from Keefe, Bruyette, and Woods (KBW), an [...]
Michael Jackson’s will was filed today in the Los Angeles Superior Court, and the settlement of his estate is sure to generate plenty of media coverage. His fortune and his debts both total roughly $500 million, according to the New York Times, so there’s a lot of money at stake. While most of us will [...]
