Credit Cards Blog
New Credit Card Rules Effective August 22, 2010
More new credit card rules from the Federal Reserve mean more new card protections for you. Here are some key changes you should expect from your credit card company beginning on August 22, 2010.
Understanding Credit Cards
There are many things that you might not know about your credit card that could end up costing you hundreds of dollars. Credit card companies are very good at creating products that provide a legitimate, beneficial service to you while at the same time maximizing their profits. If you understand their systems, you can save money in the end.
How the Financial Crisis Began?
According to the Federal Reserve and various other independent financial experts, the financial crisis of 2008 was largely an extension of the sub-prime mortgage crisis resulting from a burst in housing prices, and the inability of mortgage borrowers to fulfill their payment obligations and refinance current mortgage. This led to a situation where banks didn’t have enough money for lending and normal business purposes.
Second ‘$800 billion’ Bailout and It’s Affect on US Consumer Banking
Unlike the first $700 billion stimulus package which was intended to promote inter-bank lending, the second bailout $800 billion economic stimulus package would be used to purchase consumer debt and mortgage backed securities.
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