Financial News

Study: Americans Willing to Give Up Vacations and Eating Out to Become Debt-Free

Being in debt is a major drag. After all, when you owe money, you’re stuck making payments every month – and some of your hard-earned cash goes towards covering interest. Yet, despite the fact that no one likes being in debt, many Americans owe all sorts of money from student loan debt to credit card […]

Posted in: Credit Card News, Editor's Picks, Financial News, Student Loan News,
Most Gen Xers Live Under a Cloud of Debt and Aren’t Sure How to Erase It

Many Gen Xers are in the prime of their careers and are making comfortable salaries. However, debt is still prevalent amongst this generation and, as a recent survey revealed, the options to escape are not always understood.

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Study Shows How People Feel About – and Deal With – Money and Debt

Money can influence powerful emotions in people. In fact, the vast majority of people find that being on solid financial ground makes them feel better or happier than anything else. Still, it’s no surprise that debt is a major concern for most people. That’s according to a study by Northwestern Mutual, which spotlights how U.S. adults view […]

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Beyond the App: Venmo Launches New Debit Card

If you’re looking for more ways to use Venmo, the popular payment app recently introduced a Venmo Mastercard debit card. The company was beta-testing this feature last fall, according to a previous LendEDU report. Linked to a consumer’s Venmo account, the card will enable users to spend funds from their account balances where Mastercard is accepted […]

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Scammers Get Busted for Targeting Small Businesses

A recent law enforcement initiative led to 24 actions against individuals or groups who were allegedly attempting to scam small businesses. The results from Operation Main Street: Stopping Small Business Scams were recently revealed in a joint announcement from the Federal Trade Commission, the offices of eight state attorneys general, two U.S. Attorneys’ Offic

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Free Credit Freezes on the Way to Help Protect Consumers from Fraud

Beginning Sept. 21, consumers can land free credit freezes and longer fraud alerts under a new federal law aimed at protecting people’s credit. The law is called the Economic Growth, Regulatory Relief, and Consumer Protection Act according to the FTC. When the law comes into effect, credit reporting agencies Equifax, Experian, and TransUnion will each be […]

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The CFPB Seeks Input on Consumer Complaint Database

Consumers interested in voicing their opinions about the CFPB complaint process have a June 4 deadline. In an effort to assist the Consumer Financial Protection Bureau (CFPB), the agency is asking for comments and information from “interested parties” to help them assess possible changes to its public reporting practices of consumer complaints, according to the Fe

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Why the Majority of Small Business Owners Don’t Apply for Funding

Small business owners don’t take advantage of the funding available to them when it comes to focusing on innovation. In fact, 60 percent of small business owners don’t even try to pursue small business capital, whether it’s in the form of grants or loans, according to a BMO Wealth Management study. Why Innovation is Important In […]

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Collective Student Loan Debt Passes $1.5 Trillion

Outstanding student loan debt is on the rise, edging past a collective $1.5 trillion, according to the Board of Governors of the Federal Reserve’s statistical release on consumer credit. The first quarter of 2018 showed outstanding student loan debt was at $1.521 trillion, up significantly from the fourth quarter of 2017, when it was $1.49 trillion. A

Posted in: Financial News, National News, Student Loan News,
Interest Rates Stay Steady, But Possible Rate Hike in June

On May 2, the Federal Reserve opted to hold interest rates at their current level instead of increasing them. The Fed expects a recent upswing in inflation to hold steady and will help increase borrowing costs come June. What the Increase in Inflation Means While the Fed acknowledged inflation was increasing, it didn’t appear concerned […]

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