We told you last month about banks deciding to let customers opt out of overdraft fees, first announced by Bank of America and JP Morgan Chase, and then the next day by Wells Fargo (and Wachovia, which it owns). These big banks made the changes very soon after lawmakers announced an intention to try to regulate ...

Click here to read complete article.

Cell phones and credit In many countries outside the U.S., cell phones have replaced credit cards. In Japan and Finland, for example, travelers rarely carry cash, checks or credit cards, but rather swipe their phones or send text messages to pay for train rides. In the U.S., the cell phone hasn’t yet reached this capability, mostly because ...

Click here to read complete article.

Critics want ‘Law Abiding Citizen’ locked up Image from wikimedia “Law Abiding Citizen could be the movie of the year, but only if you’re a big fan of stupid.” Those are the words of Liz Braun from Jam! Movies in her “Law Abiding Citizen” review. That’s pretty harsh coming from a woman who writes for a publication ...

Click here to read complete article.

Yomanimus Making money in real-estate is all about timing. Despite the fact that many people lost not only their shirts but their homes in the mortgage meltdown, real-estate has historically been considered a safe investment. But if current trends continue, there may be more bust than boom. In fact, we may never see a mortgage market ...

Click here to read complete article.

Smart Americans have two main questions about the financial industry reforms President Obama promised last Friday: First, will a new Consumer Financial Protection Agency (CFPA) prevent abuse of credit, savings and investment customers (see previous article)? But second, will any proposed regulatory reforms and oversight bodies prevent irresponsible behavior in the financial industry from wrecking ...

Click here to read complete article.