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Can Banks Give Payday Loans A Run For Their Money?

Payday loans are very, very expensive, and often trap consumers in a vicious cycle of debt that is hard to break. The sad part is that Americans at the bottom of the financial ladder, folks who barely get by paycheck to paycheck, have no option but to resort to these loans because banks and credit unions have not offered small short-term loans to consumers since the recession. Hence, a recent bulletin from the Office of the Comptroller of the Currency (OCC) was welcome news for cash-strapped con...

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Topics: Banking Products

What to Expect when Expecting an Interest Rate Increase

 Will they or won’t they? We’ve been hearing that the Federal Reserve is going to increase rates for nearly a year now, which reminds me of a story read to me as a child. “The Fed! The Fed! The Fed is raising the rate!”

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Topics: Banking Products, Interest Rates