05.28.2013 | by Lauren Lamb
In the aftermath of the housing crisis, the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed, in part, to prevent another housing crisis from happening in the future. The Consumer Financial Protection Bureau was formed to create rules to carry out the goals of Dodd-Frank. The Consumer Financial Protection Bureau recently released details of a new “Ability-to-Repay” rule, which aims to prevent people from getting a mortgage loan they cannot afford and a “Qualified Mortgage” rule, which will encourage lenders to offer mortgage loans with terms that are more favorable to borrowers.
05.21.2013 | by Kenny Steinberg
You are a stay-at-home mom or dad, and you have been having trouble getting credit because you have no source of income other than the income of your spouse. And the Card Act of 2009 passed by Congress essentially told credit card companies that if someone has no income, they don’t deserve their own card. Is there help for you? Should there be?
05.20.2013 | by Chris Frye
A not-so-funny situation