Hawaii is suing seven major banks and credit card issuers over products cardholders didn’t request or qualify for.
The CFPB posted a proposal allowing card issuers to charge what they wish before an account is opened.
The law known as the Credit CARD Act implemented a number of restrictions on credit card fees. This week a federal judge stepped in to stall the effective date of one of those fee limits. A quick recap of events: One of the provisions in the Credit Card Accountability, Responsibility and Disclosure Act of 2009 limited
Upfront credit card fees are stirring up emotions in South Dakota. Last week, First Premier Bank and Premier Bankcard of the Mount Rushmore State filed a lawsuit against the Federal Reserve Board and the newly opened Consumer Financial Protection Bureau. The suit says the central bank overstepped its authority when it ruled that upfront fees
One year ago, many provisions of the Credit Card Accountability, Responsibility and Disclosure Act of 2009 took effect. In conjunction with a conference marking its anniversary today, the Consumer Financial Protection Bureau, the new consumer watchdog agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, released a report on the impact of the
Some major credit card issuers are eliminating penalty interest rates and easing off some credit card fees, according to a Jan. 22 article in The Wall Street Journal. Bank of America, Wells Fargo and Huntington Bank have stopped charging penalty interest rates on customers who pay late on their credit card bills. And Bank of
Thinking about transferring several thousands of credit card debt to a new card with a rock-bottom introductory rate? Consider your move carefully. Consolidating multiple credit card balances onto a single card with a super-low introductory rate can be a nifty financial move. But there are plenty of snags to watch out for. First off, you
Worried about what will happen to your credit card debt if you are injured or unemployed? Payment protection plans offered by credit card companies promise to take all those worries away but for a hefty price. Some plans offer to pay your minimum monthly payments, suspend your minimum monthly payments or even cancel your minimum
Looking for a way to take some of the sting out of a high credit card balance? Consider transferring the balance to a card with a rock-bottom introductory interest rate. Zero percent balance transfer deals are available, with some deals lasting for a year or more. And some issuers are even rolling out deals offering zero