Stephen Brobeck
Stephen Brobeck
Stephen Brobeck is the director of the Consumer Federation of America...
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Generally it's a good idea, but you need to comparison shop to make sure you get a good deal.
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If consumers would simply maintain the minimum balance requirement, they wouldn't get hit with monthly fees and wouldn't bounce checks. You want to find a bank that has a minimum balance requirement you can meet.
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If consumers started to shift money, however, ... from an interest checking or a traditional savings account into even a bank CD or from a bank to a credit union. That would place market pressure on the banks to raise those interest checking rates and those traditional savings rates. They (banks) do not feel as if consumers are demanding higher rates.
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Despite all of the news coverage about credit scores over the past year, many consumers still do not understand important facts about these increasingly influential numbers.
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It prevents credit unions from extending their services to small employee groups.
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It's a small industry that sells protection in the event you can't make your payments. Essentially, you buy it and it's very expensive; it's not a good deal.
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We project for all households in the Northeast, oil and heat bills will be 35 percent higher than last year and that for households in the Midwest, gas bills will be 50 percent higher. Low and moderate income households will be clobbered by these oil and gas price hikes.
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If you ask for understanding and relief from credit card companies and mortgage companies, the cash you raise will go farther,
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It's discouraging. What we see is little change in the assets of the typical American household between 2001 and 2004, after substantial increases in the previous six years.
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It's important to pay attention to any mailings from issuers for changes in terms and conditions,
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The fees continue to rise but bear little relation to actual costs.