Stephen Brobeck Quotations

We recommend that consumers shift their funds from traditional savings to CDs and from banks to credit unions. If everyone did so they would earn about $40 billion more in interest annually. That's an average of about $400 per household.

Shifting debt from one card to another can get you in trouble if you just accrue more debt.

Net wealth hardly grew despite a substantial rise in house values.

On some small accounts, the fees are so high and the interest is so low that the savings dwindle rather than accumulate.

Most Americans are now aware of the consumer debt trap and the need to build wealth, but don't believe they can do so.

We project for all households in the Northeast, oil and heat bills will be 35 percent higher than last year and that for households in the Midwest, gas bills will be 50 percent higher. Low and moderate income households will be clobbered by these oil and gas price hikes.

You basically charge what the traffic will bear.

Those who have obtained their scores know significantly more about credit scores than those who have not,

The bottom line for consumers is potentially billions of dollars a year in additional charges, fees, and higher interest rates and lower yields on savings.

Banks are hypocritical to seek bankruptcy restrictions when their irresponsible marketing and extension of credit card debt has been an important cause of rising personal bankruptcies.

Banks are increasingly monitoring profitability. If you have borrowed a lot of money or have tens of thousands of dollars in a money market account, they won't want to lose you.

This is an important finding because those who know their personal wealth are more likely to spend, borrow and save sensibly.

This is not on the radar screen of the banking industry right now. They're not interested in small depositors.

They simply do not understand the power of making small regular contributions.

It's a small industry that sells protection in the event you can't make your payments. Essentially, you buy it and it's very expensive; it's not a good deal.

It prevents credit unions from extending their services to small employee groups.

Despite all of the news coverage about credit scores over the past year, many consumers still do not understand important facts about these increasingly influential numbers.

It's discouraging. What we see is little change in the assets of the typical American household between 2001 and 2004, after substantial increases in the previous six years.

It's important to pay attention to any mailings from issuers for changes in terms and conditions,

The fees continue to rise but bear little relation to actual costs.

If you ask for understanding and relief from credit card companies and mortgage companies, the cash you raise will go farther,

Check the terms and conditions, particularly the grace period and fee levels -- whether or not there's an annual fee -- and interest rates.

Generally it's a good idea, but you need to comparison shop to make sure you get a good deal.

If consumers would simply maintain the minimum balance requirement, they wouldn't get hit with monthly fees and wouldn't bounce checks. You want to find a bank that has a minimum balance requirement you can meet.

If consumers started to shift money, however, ... from an interest checking or a traditional savings account into even a bank CD or from a bank to a credit union. That would place market pressure on the banks to raise those interest checking rates and those traditional savings rates. They (banks) do not feel as if consumers are demanding higher rates.