Consumer debt from use of credit cards and installment purchases has significantly increased, leading to delinquencies and defaults, among other problems. However, research on consumer attitudes and behavior related to credit use is extremely limited. In particular, little is known about the kinds of consumers most susceptible to credit debt. This paper explores that topic using data from exploratory surveys conducted in the U.S. and Singapore. Although proneness to credit debt is related to a variety of cultural, regulatory, and demographic factors, identification of those most susceptible indicates the importance of subjective factors such as a carefree personality profile and attitudes related to freespending and convenience orientations.
Strapped for cash and credit, farmers are cutting equipment purchases this year. It's been difficult for farm-implement dealers and manufacturers, as well as farmers who need expensive machinery to run their operations and keep them efficient and profitable.
Shoppers' decisions about Black Friday purchases reflect responses to the basic check-out question: Cash or credit? New research by Promothesh Chatterjee, assistant professor of marketing at The University of Kansas, lends credibility to the notion consumers assess purchases differently depending on payment mode.
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) transferred rulemaking authority for a number of consumer financial protection laws from seven Federal agencies to the Bureau of Consumer Financial Protection (Bureau) as of July 21, 2011. The Bureau is in the process of republishing the regulations implementing those laws with technical and conforming changes to reflect the transfer of authority and certain other changes made by the Dodd-Frank Act. In light of the transfer of the Board of Governors of the Federal Reserve System's (Board's) rulemaking authority for the Truth in Lending Act (TILA) to the Bureau, the Bureau is publishing for public comment an interim final rule establishing a new Regulation Z (Truth in Lending). This interim final ru...
... based on findings that the informed use of credit resulting from consumers' awareness of the cost of... (4) Telephone purchases. If a consumer purchases credit insurance or debt ... is published weekly in the Wall Street Journal. Your interest rate will equal the index rate...
Coloradoans will be among the first in the nation to make credit card purchases with a blink. P. Morgan Chase & Co. has selected Colorado to be one of the first markets to use new non-contact credit card technology-called blink-that allows cardholders to make purchases by simply waving a card in front of a register instead of swiping it.
MANOR TWP.: In mid-October, a credit card account was opened using the stolen identity of a man from Colonial Manor Drive, township police said. More than $800 in purchases were made on the account, which appears to have been opened in New York. ELIZABETHTOWN: Miguel Castanon-Avila, 43, of the 600 block of North Lime Street, was charged Sunday after a domestic dispute at his home during which he allegedly struck a woman multiple times. He was sent to Lancaster County Prison in lieu of $100,000 bail.
Many fast-food locations have begun accepting credit cards for payment. On Sundays, most churches across America collect offerings in the form of cash and checks. But now some churches are accepting charge cards, as well. You can even pay your income tax and gas bills with plastic. While more and more merchants are accepting plastic, more and more Americans are using cards for more and more purchases. A recent Wall Street Journal article noted: "For the first time, Americans used cards - credit, debit and others - to buy retail goods and services more often than they used cash or check in 2003." The article also cited some telling statistics:
Dear Bruce: My son-in-law would like to get a home loan for about $70,000. He has always paid cash for his purchases, except for two or three leases for vehicles. He went to a couple of local banks and was told there was no record in the credit-rating companies of him or his payments on these leases. Is there any way you know of to establish credit quickly? He has no debt and can come up with $20,000 to establish equity somehow. Thank you. -- J.F., West Point, Neb. Dear J.F.: Your son-in-law is coming up against the hard fact of life that no credit information is worse than bad credit information. I have advised people to establish credit, even though it isn't necessary to have credit cards, and pay bills on time.
LEWISTON -- The Maine State Computer Crimes Unit is investigating the theft of credit and debit card numbers used to make purchases at Day's Jewelers stores. No one is saying how the data was hacked.
... by extraordinary expansions of bank credit, which fueled run-ups in stock prices and real est...Purchases of durable consumer goods thereafter predictably w...
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