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Tag: Credit Card

Foreclosure
Flickr / respres

Got Credit Card Debt? One Bank May Try to Go After Your Home

Hundreds of California residents are being threatened with foreclosure by a major Canadian bank, but it has nothing to do with missing their home payments.

Posted on Oct 5, 2012 READ MORE



Flickr / 7bikeframesweldedtogether

The Flawed Credit Card Debt Collection Process

Credit card companies are increasingly turning to the legal system in their rush to collect money that is owed to them. But, there now exists a very big problem in this litigious-happy practice—nearly all these lawsuits may be flawed.

Posted on Aug 13, 2012 READ MORE



ra_hurd (CC BY 2.0)

Some Donations to Scott Walker Flagged as Potential Fraud

When MaryAnn Nellis tried to pay for groceries on April 14, her credit card was declined. She later found out why: Her credit card company, Capital One, had flagged an earlier purchase as potentially fraudulent. The problem? A $5 donation to Friends of Scott Walker, the Wisconsin governor’s campaign committee, which she claimed not to have made.

Posted on May 21, 2012 READ MORE



Flickr / SimonAlparaz (CC-BY)

Recovery Drags as Americans Dip Into Savings

For obvious reasons, Americans’ savings accounts are shrinking during this ongoing recession, both because there’s not as much money to deposit and many more reasons to make withdrawals. This has consequences for the economy’s long-term recovery prospects, as does another currently popular method of payment: the credit card.

Posted on Jan 17, 2012 READ MORE



Flickr / 7bikeframesweldedtogether

Spike in Consumer Spending Spells Danger

Consumer borrowing shot up $15.5 billion in June—three times more than projected—in the biggest increase in credit in four years, with credit card and other types of revolving debt rising by $5.21 billion—the largest jump since spring of 2008. (more)

Posted on Aug 15, 2011 READ MORE


Wall Street bull
Flickr / kdinuraj

Wall Street Reform Stalls in Senate

By day’s end Wednesday, our chums over at the U.S. Senate hadn’t moved much closer to the finish line in dealing with the financial regulation bill, to the chagrin of some senators and, no doubt, the satisfaction of others.

Posted on May 19, 2010 READ MORE



Flickr / soathevy

Retail Debit Fees May Be Capped

The beleaguered banking industry suffered yet another blow Thursday evening after the Senate voted to impose price controls on debit transactions, a move that follows years of begging by retailers for governmental limits on the high charges demanded by banks every time a consumer swipes a debit card. The amendment is in a bill that still must win Senate approval.

Posted on May 15, 2010 READ MORE


credit cards
Flickr / The Truth About Credit Cards

Poll Indicates Americans Are Ready for Financial Overhaul

President Obama and his allies won’t have an easy time as they attempt to do some major renovations of our financial system, but according to a new Washington Post-ABC News poll, they at least have the support of the majority of Americans.

Posted on Apr 26, 2010 READ MORE


Stewart

‘Daily Show’: Bank of America

Credit card reform is great and all, but there’s another problem that legislation can’t exactly remedy: Americans’ supersized spending habits. Oh, and since Congress gave banks nine months of lead time before enacting the Credit Card Accountability, Responsibility and Disclosure Act, those wily financial institutions were ready with a set of new tricks to part customers with their hard-earned cash.

Posted on Feb 24, 2010 READ MORE


Frank
serenitythruhaiku.wordpress.com

Frank Hails ‘Major Breakthrough’ in Financial Regulation

On Thursday, the House Financial Services Committee voted in favor of a bill aimed at creating the U.S. Consumer Financial Protection Agency, a watchdog organization designed in response to President Barack Obama’s call for greater oversight and regulation of banks and other financial companies in light of the past year’s economic implosion.

Posted on Oct 22, 2009 READ MORE


Obama
AP / Gerald Herbert

Obama Pushes Consumer Watchdog Agency

President Barack Obama went on the offense Friday to reassert the need for a new consumer watchdog agency, the Consumer Financial Protection Agency, to keep tabs on financial institutions and to keep consumers from getting caught up in more mortgage disasters and high-interest credit card schemes.

Posted on Oct 9, 2009 READ MORE


credit cards
ehow.com

Got Good Credit? Too Bad

Those credit card holders who pride themselves on paying their bills on time, and who have enjoyed rewards in the past for so doing, are in for an unpleasant surprise: They may soon be targeted by the very companies that used to ply them with perks.

Posted on May 19, 2009 READ MORE


Left, Right & Center

‘Left, Right & Center’: Torture, Credit Cards and Chrysler

Even Fox News’ Shep Smith said it: America doesn’t torture ... although the recently released set of torture memos belies that declaration. Meanwhile, President Obama’s none too pleased with credit card companies, and Chrysler has hit the skids. Was there any good news this week? Tony Blankley thinks so.

Posted on Apr 24, 2009 READ MORE


American Express
nafcu.org

American Express Cutting 7,000 Jobs

Joining in the unhappy trend of mass layoffs, American Express announced Thursday that 10 percent of the credit card company’s work force will soon be cut due to the current economic crisis.

Posted on Oct 30, 2008 READ MORE


Pay Your Bills, Become Terror Threat

A retired Texas schoolteacher pays off a larger-than-usual chunk of his credit card bill—and the payment gets frozen as Homeland Security investigates. “It’s scary how easily someone in Homeland Security can get permission to spy,” says the teacher.

Posted on Mar 3, 2006 READ MORE


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