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Maybe the Fed Won’t Raise Rates in 2015 After All

  Maybe the Fed Won’t Raise Rates in 2015 After All As recently as a few weeks ago, conventional wisdom believed that the Federal Reserve would be raising the fed funds rate this year.The Wall Street view according to the mid-December CNBC Fed Survey was that the Federal Reserve would raise interest rates this summer … Read More

Big Banks Get Big Fines for Foreign Currency Manipulation

  Big Banks Get Big Fines for Foreign Currency Manipulation After a long-running investigation, United States government agencies are imposing billions of dollars in fines on a group of the world’s largest banks, with several of the banks pleading guilty to criminal charges.  The penalties arise from price-fixing in foreign currency markets. The United States … Read More

Fed Up Yet?

  Fed Up Yet? The answer is no. The Federal Reserve Board’s Open Market Committee (the “Fed”) decided at its June meeting this week not to raise interest rates, instead keeping them near zero where they have been since 2008. The Fed, which has not increased rates in nine years, has stated repeatedly that any … Read More

The Strengthening U.S. Dollar

  The Strengthening U.S. Dollar The United States’ currency has recently attained its highest level in years when measured against many foreign currencies. For instance, the euro (€)began the year 2015 trading at about $1.20 in U.S. dollars – six months earlier it stood at $1.35. Expressed another way, a dollar six months earlier cost … Read More

Curious Feds Probe Bankrate

  Curious Feds Probe Bankrate The Consumer Financial Protection Bureau (CFPB) is at it again.  This time the government agency is investigating the mortgage rate comparison tool provided by financial services company Bankrate on its website.  A filing by Bankrate with Securities and Exchange Commission (SEC) disclosed that Bankrate and several of its employees were … Read More

Monitoring the Monitor

  Monitoring the Monitor Although you can’t always get what you want, the Consumer Financial Protection Bureau (CFPB) says you should at least get what you pay for when it comes to credit card “add-on” benefits.  The CFPB has settled with two companies that charged credit card customers for credit monitoring or identity theft protection … Read More

Rebounding Dollar?

  Rebounding Dollar? The United States dollar staged its biggest weekly gain against the euro in almost four years.  After starting a strong rally last year, then retreating in March following a string of soft American data and stronger European data, the dollar increased almost four percent against the euro in the week ending May … Read More

Monitoring the Monitor

  Monitoring the Monitor Although you can’t always get what you want, the Consumer Financial Protection Bureau (CFPB) says you should at least get what you pay for when it comes to credit card “add-on” benefits.  The CFPB has settled with two companies that charged credit card customers for credit monitoring or identity theft protection … Read More

No More Payday for These Lenders

  No More Payday for These Lenders The Federal Trade Commission (FTC) has entered into a settlement with two Kansas City area individuals involving “payday loans” which the FTC claimed violate the FTC Act, the Truth in Lending Act, and the Electronic Funds Transfer Act.  Timothy A. Coppinger and Frampton T. Rowland III supposedly made … Read More

Citigroup is the Latest CFPB Victim

  Citigroup is the Latest CFPB Victim 1 On the fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (CFPB) celebrated in a large way by making the consumer bank of Citigroup, Inc. part with $770 million for credit card misconduct. According to the CFPB, the bank … Read More