Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
IBaltimore SunI Couple with credit woes should join a CU
BALTIMORE (2/25/09)--A couple who is experiencing financial difficulties should join a credit union for help, consumer advocates said in a Baltimore Sun personal finance column Tuesday. Two years ago, Bank of America (BofA) gave Brian DeCunzo and his wife a $40,000 unsecured line of credit--two-thirds of their annual income. However, BofA recently lowered their credit limit to $24,300. Now the couple is maxed out. A bank official told them their credit limit was lowered because their debt level had gone up, the newspaper said. However, DeCunzo told the paper they have less debt now than when they first took out the line of credit. While a $40,000 unsecured line of credit is very generous, the bank’s sharp cut available credit was “heavy-handed,” consumer advocates told the paper. The DeCunzos should join a credit union to obtain more favorable credit terms, the advocates suggest.
Other Resources

RSS





print
News Now LiveWire
The U.S. Court of Appeals restored NCUA lawsuit v. Barclays Capital that charged misrepresenting quality of $550M IN RMBS. See News Now Wed.
4 hours ago
Registration is now open for the online livestreaming of @TheNCUA March 19 open board meeting. http://t.co/yOuqdXHlxj
9 hours ago
Registration is now open for online viewing of @TheNCUA's March 19 board meeting. https://t.co/mMZoXSFjMe
9 hours ago
.@CFPB Director Richard Cordray's testimony that he will deliver before the #HFSC this afternoon. http://t.co/NA1aEOPAeh
11 hours ago
Consumer spending flatlines, savings ramp up #Market #NewsNow http://t.co/94kPuBpMRK
11 hours ago