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Crazy Ass Lawsuit Filed by Spire Law Group on Behalf of Consumers Against Alleged Bank Conspirators

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As an investigative journalist and consumer reporter I’ve read a number of lawsuits, probably in the thousands at this point. But a suit sent to me this morning by a tipster (send in your tips here) has to be among one of the strangest I’ve seen. The underlying legal foundation of the case might be sound and the Plaintiffs might ... Read More »

Porn Debt, Stripper Debt, Sugar Baby Debt – More Financial Sexual Fetishes – Probably NSFW

white lace panties

I learned two important things in researching this article. The first is the large number of people that admit some part of their debt problem was related to porn or the sex trade, and, when you search for porn debt there are some very odd results. Be careful. Not long ago I wrote about the niche of financial domination. See ... Read More »

Barnes & Noble Payment Data Compromised in CA, FL, IL, MA, NJ, NY, PA, and RI

Photo Credit: Grilled Cheese

The bookseller Barnes & Noble has announced that 63 of its stores were found to have payment terminals / PIN pads that had be tampered with and compromised. The announcement of the tampering says that only one PIN pad in each store was hacked. Barnes & Noble has since inspected every PIN pay pad in all of its stores. The ... Read More »

Canada Concerned About Exploding Consumer Debt Becoming a Drag

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Consumer debt levels in Canada continue to grow, creating a concern for the Bank of Canada. It’s a tightrope to encourage Canadians to spend to stimulate the economy and help improve the general economy in Canada and act prudently in order not to run up household debt to problem levels. As Canadian households have engaged in a borrowing spree, Federal ... Read More »

Student Loan Servicers Suck

tired working woman

by Marian Wang ProPublica, The parallels between the mortgage market and the student loan industry have been frequently noted. Both involve big borrowing and have a history of lax underwriting by lenders. But the two are also strikingly similar in another way: When it comes to both mortgages and student debt, the servicers, or companies that handle loan payments, sometimes ... Read More »

Consumer Cries Foul Over Mortgage Reduction Mailer

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A tipster (send in your tips here) sent in a mailer they just received from the Administrative Offices of Payment Reduction Service. Whatever that is? Their concern was that the mailer was unsolicited marketing for a mortgage they no longer have. That caused them to investigate the mailer further. The mailer does not identify who the sender is but does ... Read More »

TIP: Don’t Use University Credit Card to Pay for Strip Club

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In what certainly feels like the most obvious advice possible, the Missouri athletics department didn’t get the memo. Michael Schumacher, the director of video operation, apparently used the university credit card to visit the “only Vegas strip club on the Strip.” It wasn’t so much the rum and coke that tripped him up, but probably the $2,000 tip on a ... Read More »

Bank Founded in 1472 Launches Dual Sided Credit/Debit Card. Freaky!

Debit Card Side of the Card.

Belgium bank Banca Monte Paschi Belgio is launching a split personality credit card and debit card. It’s kind of weird but very cool. The PaschiCombo card on one side has a chip and PIN Maestro debit card on it. The card also has a button on it that users can press when they want to make online purchases but need ... Read More »

Target Sells RedCard Credit Card Biz to TD Bank But Will Keep Servicing

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You know that Target card you have in your wallet. Not the debit card, but the credit card. Well Target has sold their book of customers and accounts to Toronto Dominion Bank (TD Bank) for a reported $6 billon. The price tag is equal to the entire amount of the amount due on the cards. The agreement does not have ... Read More »

Medicredit Debt Collector Allegedly Threatens Mother and Uses Social Media as Weapon

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Update 11-5-2012 We received the following correspondence from Michael A. DiMarco from MediCredit. In your October 23, 2012 blog entitled “Medicredit Debt Collector Allegedly Threatens Mother and Uses Social Media as Weapon,” you acknowledge that there might be some confusion in the identification of the exact underlying companies in the lawsuit filed. The facts are: 1. The complaint should have ... Read More »

Hey China, Whose Laughing Now That You’re Our Credit Card Bitch

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We hear so much in the press about how the U.S. is so indebted to China. But the U.S. is a world leader in the creation of one economic tool, debt. Typically what seems to happen is credit card marketing and products are created first in the U.S. and spread all around. From what I see, the UK was a ... Read More »

American’s Freaking Out About Having Enough Money to Retire

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A Pew Research study just out paints a disturbing picture of what lies ahead for many in retirement. Let me summarize the results of the report for you, half of people better start enjoying dog food. According to the survey results, about four-in-ten (38%) adults says they not confident they will have enough income in retirement. That’s up from 25% ... Read More »

Go Ahead, Take a Guess Which Countries Have the Most Credit Card Fraud

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Now here is a study that will probably surprise some people. A recent survey by the Aite Group and ACI Worldwide of consumers who experience credit card fraud found some countries are much more at risk of consumers having their credit cards used fraudulently. As someone who has lived and travelled to many countries outside of the United States, a ... Read More »

Florida Legal Advocates Sends Deceptive Fax Offering Debt Relief

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February 18, 2013 – We received a statement from a Heidy Barrios who states their company, Florida Legal Advocates, LLC is NOT the company that sent the fax. A great reader sent in a copy of a fax that was received from Florida Legal Advocates which claims to be located in Florida at a Jacksonville office. The offer appears to ... Read More »

MBNA UK Offers 20 Month 0% Credit Card. U.S. Consumers – NOPE

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Bank of America’s UK subsidiary MBNA has announced a new low-fee MBNA Platinum Credit Card is available for UK consumers exclusively on MBNAs UK website. New customers will receive 20 months at zero per cent interest on balance transfers with the new card, as long as they are made within the first 60 days of opening an account. – Source ... Read More »

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