Will cryptocurrencies trash cash? ‘Fedcoin’ could do it


The cryptocurrency hype train obviously has no brakes. But could it eventually replace cash in the US? According to the thinking of economists cited by the Bank for International Settlements, it just might. And to the chagrin of the anti-establishment types that fueled bitcoin’s early rise, it will likely be run by the Federal Reserve.

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U.S. government student loan policy reaping $51 billion profit

At $1.1 trillion, student debt eclipses all other forms of household debt, except for home mortgages.

The U.S. government is forecast to turn a record $51 billion profit this year from student loan borrowers, a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets.



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Banking agencies working to find credit rating alternatives

credit rating

Credit rating agencies have been criticized for fueling the 2007-2009 financial crisis.

The Federal Reserve said on Monday that Banking regulators expect to release proposals for replacing the work of credit rating agencies in their regulations later this year when comprehensive tougher capital standards are unveiled.


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The Great Bank & Credit Card Backlash


The smell of corruption is offending more than few nostrils

Futurist Thomas Frey:  Recent attempts by Congress and the Federal Reserve Board to curb the excessive fees being charged by credit cards, banks, and finance companies have resulted in a punitive industry response with interest rates and fees climbing in almost every category. This action has resulted in nothing short of a full-scale revolt by a victimized-feeling public.


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What Effect Will the Cut in Debit Card Fees Have on Consumers?

debit card

The Fed rule on debit card fees could have far-reaching effects on how consumers spend and save.

The debit card battle between retailers and banks has reached epic proportions.   The plan by lawmakers is to slash the fees retailers pay banks every time a shopper uses a debit card.  Both sides are spending millions of dollars to convince lawmakers that they’re looking out for average Americans.


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Consumers Beware – Reloadable Prepaid Debit Cards Loaded with Fees


Reloadable prepaid debit cards represent one of the fastest-growing segments of the financial services industry.

Last year, Michael Abukhader’s 12-year-old son, Jacob, received a $30 NASCAR prepaid Visa card from an aunt who thought it would provide a convenient way to give him cash for birthdays and other events. But once Abukhader, who lives in Queen Creek, Ariz., reviewed the terms of the card, he closed the account.


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