Topic “Credit Cards”
Senate passes amendment on debit and credit card swipe fees
Retailers won a long-sought victory late Thursday as the Senate approved a measure that would give them more power over the fees they pay to banks each time shoppers swipe a credit or debit card.
Read the entire story »Credit Card Companies Dash for the Cash
The New York Times reports again this week on credit card companies trying to squeeze a few more pennies out of their customers before tough new regulations take effect. The latest story spotlights a 91-year-old who saw her credit card rates jump 10% out of the blue. Recent studies show this anecdote is part of a larger trend. In fact, 12 of the country’s largest banks are continuing to engage in “unfair or deceptive” credit practices.
An End to the Credit Card Debt Cycle for College Kids?
Despite taking over $7.7 million in campaign cash from credit companies over the last few years, Congress was able to pass tough new regulations on the industry in May. That legislative package included new regulations on giving credit cards to college kids – a group that has been identified as vulnerable to identity scams due to their credit card use and is likely to rack up interest charges and other fees due to their generally bad financial habits.