Meredith Whitney: Credit card reform makes poor poorer

Meredith Whitney: Credit card reform makes poor poorer
Meredith Whitney made her name warning Wall Road hotshots that Citigroup was in serious distress in 2007, just ahead of the financial crisis. Zeroing in on commercial banking has long been her specialty, but in a conversation with Fortune, she inverted her stare, focusing on how the disruption in huge banking, especially in consumer credit, is affecting America’s middle class.

Read more on Fortune via Yahoo! Finance

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Standard Chartered makes record annual profit

Standard Chartered makes record annual profit
Standard Chartered PLC on Wednesday reported a seventh consecutive record annual profit, of $3.38 billion, as stronger wholesale banking earnings offset an increase in provisions for terrible loans and additional credit risks.

Read more on AP via Yahoo! News

Amid credit crunch, layaway makes a comeback

Amid credit crunch, layaway makes a comeback
REHOBOTH BEACH — As consumers spurned by poor credit ratings and interest rate hikes leave their plastic at home, layaway is making a comeback at many retail stores.

Read more on Delaware Coast Press