| The best little deal in banking
If you belonged to a credit union in the past, it was probably because a volunteer at work or church approached you to let you know about the good deal you could get on a car loan. Credit unions still offer car loans, they're still tied to affiliation groups, and they still have friendly members looking to let you know about a good deal. But today these not-for-profits are in a pitched battle with big retail banks for all your banking business. .
THE SCRIPT THAT CAN SAVE YOU MONEY
Consumer Advocates claim one script can save you a lot of cash. They say if you call your credit card company and read it word for word you may get a lower Annual Percentage Rate. 7 News discovered the script worked for several people who used it, you lose nothing by trying so here it is:Hi, my name is ____________. I'm a good customer, but I have received several offers in the mail from other companies with lower annual percentage rates. I really want a lower rate on my card. Can you help me? .
Pelosi: 'Given His Dismal Record, President Bush in No Position to Lecture Congress About Fiscal Responsibility'
Speaker Nancy Pelosi released the following statement today in response to a speech in Indiana this afternoon by President Bush in which he compared Congress to "a teenager with a new credit card." Below the Speaker's statement is a fact sheet comparing the President and Congress' fiscal records. "If President Bush applied for a credit card, any bank in America would turn him down as a bad credit risk. He has put more foreign debt on the nation's credit card than all previous Presidents combined - saddling our children and grandchildren with $3.3 trillion in new debt. "At the same time, President Bush has compiled one of the worst records of job creation since the Great Depression while American families saw their incomes drop by $2,500. "Given his dismal record of maxing out America's credit card, the President is no position to lecture Congress about fiscal responsibility or economic policy.
East Ramapo students warned about college loan scams
SPRING VALLEY - College-bound students were warned yesterday about the perils of tuition loans and told about a recent state law protecting them from unscrupulous lenders and schools. About 35 East Ramapo school district students attended a lecture about a nationwide investigation into college loans from a top lawyer with the New York state Attorney General's Office. The students also were told about a state law - "Student Lending Accountability, Transparency and Enforcement Act" - that protects them and their parents from predatory loans. The law - known as SLATE - gives students, among other rights, the ability to choose their own lending institution and polices the industry and colleges. Congress is passing a federal law mirroring SLATE to provide nationwide protections.
Lenders may not pass on rate cuts
Homeowners will miss out on the full benefit of interest rate cuts next year because mortgage lenders are planning to tighten their belts in response to the credit crunch. The Bank of England signalled earlier this week that interest rates could be cut twice by next summer, but mortgage lenders have indicated that they may refuse to cut their standard variable rates (SVR) in turn, as they try to protect their profit margins. This will further stretch homeowners whose finances are already under pressure. The proportion of homeowners who pay out more than half their pre-tax salary on their mortgage has doubled in two years to 4.8 per cent, according to Bank of England figures released earlier this week. One in three mortgage borrowers now devotes more than 20 per cent of gross income to repayments, the figures showed.
|
