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.
actual bear continue relation rise
The fees continue to rise but bear little relation to actual costs.
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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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You basically charge what the traffic will bear.
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Those who have obtained their scores know significantly more about credit scores than those who have not,
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This is not on the radar screen of the banking industry right now. They're not interested in small depositors.
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They simply do not understand the power of making small regular contributions.
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The bottom line for consumers is potentially billions of dollars a year in additional charges, fees, and higher interest rates and lower yields on savings.
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Banks are hypocritical to seek bankruptcy restrictions when their irresponsible marketing and extension of credit card debt has been an important cause of rising personal bankruptcies.
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Banks are increasingly monitoring profitability. If you have borrowed a lot of money or have tens of thousands of dollars in a money market account, they won't want to lose you.
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This is an important finding because those who know their personal wealth are more likely to spend, borrow and save sensibly.
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Net wealth hardly grew despite a substantial rise in house values.
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On some small accounts, the fees are so high and the interest is so low that the savings dwindle rather than accumulate.