Congress moved a full step closer to making it less hazardous for millions of Americans to keep using their credit cards. The Senate voted 90 to 5 Tuesday in favor of a reform that would prohibit credit card issuers from such unfair tactics as tripling interest rates overnight or passing out cards to clueless teenagers.
All customers would have to be notified 45 days in advance of any rate increase, and young people (under 21 in the Senate bill, 18 in the House version) would need an adult’s signature or proof that they have a way of repaying any new debt before getting a new card.
via Editorial – Safer Credit Cards – NYTimes.com.
Of the 39 evaluations made public this month, 10 were outstanding, 28 were satisfactory, and one was needs to improve. None were substantial noncompliance. Evaluations are available from links on http://www.occ.treas.gov/cra/may09.htm.
via OCC News: OCC Releases CRA Evaluations For 39 National Banks.
Less than 10% of high school graduates receive any financial education. The ABC Financial Literacy project is here to change that, not only with classroom education and materials, but with a real life experience of running, and owning their own business.
Approximately 75% of Americans live financially month to month. The ABC Financial Literacy Project was founded to make a change, because we believe that ordinary people can accomplish extraordinary things, and live the lifestyle they dream of with the right guidance.
The ABC Financial Literacy Project, is determined to offer a real life business experience to every parent and child, by choosing to work with a company that prides itself in a financial crusade to educate families across America.
So won’t you join us to stamp out financial illteracy in our nation – one kid at a time.
via ABC Financial Literacy Project – www.ABCLearnMoney.org.