Banks are freezing accounts without any warning, and are also extending their actions to accounts owned by third parties that would not normally be responsible for paying off another person’s debt…
Beware: Bank Credit Cards
October 9, 2009 By
This policy is creating situations where bank customers are unable to make purchases or do online banking even when they have substantial balances in their cash accounts. In some cases, they can’t even make payments between accounts within their own bank, unless they go to a bank branch to handle the transactions.
If you are in that type of situation with your bank, I strongly suggest that you either move your cash accounts to another bank as soon as you can – or payoff and close all credit cards and other loans with your bank.
The Death of Credit
December 5, 2008 By
The U.S. economy has continued on a steady free-fall ever since the bank bailout bill was passed. The Federal Reserve also stepped in and lowered the rate at which banks can borrow money to near zero.
So just exactly what has happened to the money that was released to the banks?
It is clear that the banks did accept the money they have received so far to keep their doors open or to buy other smaller banks. At the same time, they have frustrated any attempts to get the economy back on track by closing off some credit resources and severely restricting all other products to the point that the middle-class worker or homeowner has no place to turn.
Citibank ignores a contract
April 26, 2008 By
The Internet is abuzz with the recent revelation that Citibank, Countrywide and other major mortgage and home equity lenders have arbitrarily frozen or reduced funds available in their home equity lines of credit. Citibank, for one, claims that they have done this only after a review of each account and a determination that the current [...]
Is Huckabee a "Born Again" Bush Clone?
December 12, 2007 By
Mike Huckabee seems to be making progress toward his quest for the Republican Presidential candidacy. Not only is he an ex-governor of Arkansas, he is also a Baptist preacher. He clearly is going after the same conservative, right wing, fundamentalist Christian votes that got George Bush elected in 2000 and reelected in 2004. At the moment, it actually looks like [...]
Comments from Readers