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How to Use Your Credit Card While Travelling Nov 27th
Don’t forget to think about money when planning your next trip. While organizing flights, hotels, and vaccinations are all essential, getting your credit cards in order before taking off can save you a lot of money. A little preparation can go a long way.
Make Sure Your Credit Cards .... More »
The best low-interest credit cards in Canada for 2023 Sep 9th
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The best low-interest credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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The best GIC rates in Canada for 2025 + MORE Jan 12th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
6th place: Jin, $70,474 + MORE Jan 8th
(iStock)
Jin Won Choi // 32 // London, Ont.
TFSA: $70,474
Investment strategy: Flexible and opportunistic
You may remember Jin Won Choi, a software developer with a Ph.D in mathematics, from our TFSA contest winners a year ago. Jin came in fifth in 2013 with a TFSA total of $50,876. And even though.... More »
The best TD credit cards in Canada 2020 Sep 25th
Before we talk about the best TD credit cards in Canada, let’s talk about TD. Formed through a merger between financial giants Bank of Toronto and The Dominion Bank in 1955, TD is one of Canada’s big five banks. It offers a wide array of financial services including an impressive portfolio of mo.... More »
Most of Canada’s major banks are expected to report single-digit earnings growth this week, though Bank of Montreal could prove the outlier.
US consumer finance agency expands oversight of student loan servicers to nonbank companies
– canadianbusiness.com
WASHINGTON – The federal consumer finance watchdog is expanding its oversight to Sallie Mae and other companies that collect student loan payments.
A rule issued Tuesday by the Consumer Financial Protection Bureau extends the agency’s supervision to nonbank companies that manage large volumes of student loans on behalf of lenders.
The CFPB already oversees banks that service student loans, but it says most student loans are serviced by nonbank companies. It says the scrutiny is needed to ensure servicers comply with consumer laws at a time when more people are falling behind on their student loan payments.
Nonbank loan servicers like Sallie Mae manage borrowers’ accounts and answer their questions. Borrowers have complained that the companies lose paperwork or fail to credit payments.
Sallie Mae also is the biggest U.S. student lender.
Martha Holler, a spokeswoman for Sallie Mae, said that as the largest U.S. servicer of student loans, “We have been engaged with the CFPB in the review of our lending, servicing and collections operations…
A rule issued Tuesday by the Consumer Financial Protection Bureau extends the agency’s supervision to nonbank companies that manage large volumes of student loans on behalf of lenders.
The CFPB already oversees banks that service student loans, but it says most student loans are serviced by nonbank companies. It says the scrutiny is needed to ensure servicers comply with consumer laws at a time when more people are falling behind on their student loan payments.
Nonbank loan servicers like Sallie Mae manage borrowers’ accounts and answer their questions. Borrowers have complained that the companies lose paperwork or fail to credit payments.
Sallie Mae also is the biggest U.S. student lender.
Martha Holler, a spokeswoman for Sallie Mae, said that as the largest U.S. servicer of student loans, “We have been engaged with the CFPB in the review of our lending, servicing and collections operations…
