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« February 29, 2008 | Main | March 3, 2008 »

March 01, 2008

Going Broke: Why Americans Can't Hold On to Their Money

Tags » Consumer Debt

In an article titled 'Inside the Mind Of a Debtor Nation', Washington Post Personal Finance columnist Michelle Singletary recommends Stuart Vyse's book "Going Broke: Why Americans Can't Hold On To Their Money". Vyse is Professor of Psychology at Connecticut College, in New London. 'We've created a new kind of poverty, Vyse says. We have people who should have adequate income but still struggle because they're laden with debt.'

GAO Looks at Fees Banks Charge

Tags » Banking Industry, Checking Accounts, Overdraft Fees

In an article titled 'Banking Fees Are Rising and Often Undisclosed', Tomoeh Murakami Tse writes for the Washington Post's Sunday edition about a new report to be issued on Monday by the Government Accountability Office. 'The GAO report says the percentage of income at banks and thrifts derived from "noninterest sources," which include fees, rose to 27 percent in 2006 from 24 percent in 2000. Increased consumer use of electronic payments, as well as increased marketing of automatic overdraft protection programs, are likely contributing to the trend, the report says.'

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