The Credit Cardholders’ Bill of Rights sponsored by Representative Carolyn Maloney moved out of the House Financial Services Committee on Friday by a vote of 39 to 27. It will now be brought up for a vote in the full House.
Read More:
Washington Post - Credit Card Bill Passes One Hurdle
Reuters - House Panel Backs Curbs [...]
Monday is the last day that the Federal Reserve is accepting public comment on its proposed credit card and banking regulations. More than 30,000 letters have been received already. Have they got yours?
I thought that pop up ads went the way of the dinosaurs. And even if they didn’t they were a relatively harmless, if simply annoying, cost of surfing the web. But it turns out that some consumers are paying for clicking on a pop up ad.
The Press of Atlantic City reported that credit card numbers [...]
While Congress is examining the practices of credit card marketing toward college students, they should be examining the actions of the universities as well.
The Consumer Warning Network noted that Florida State University is profiting from the marketing of credit cards to its students, alumni, and supporters through an exclusive relationship between its athletic fundraisers and [...]
Congress held hearings last week examining marketing practices of credit card companies to college students in conjunction with its consideration of credit card reform. Here are a few of the articles from the past week covering the issue:
Taking Charge - Student Credit Card Issuers Under Investigation.
Washington Post - Too Young to Handle Credit?
Center for American [...]
Here’s the start of a series from Kiplinger’s Personal Finance and the Washington Post on how to complain to the organizations that love to charge you for anything and everything.
The Connecticut State Legislature passed legislation last week (my previous discussion is here) regarding gas station discounts for cash paying customers. Estimates have suggested that the difference between the price of gasoline for cash paying customers and credit/debit card customers may become as high as 10 cents per gallon. However, reports from gas stations in [...]
Democratic Presidential Candidate Barack Obama came out swinging today on the issue of credit cards and predatory lending. Obama criticized Republican Candidate John McCain for siding with the credit card companies and called for measures to end deceptive credit card practices. Obama supports a Credit Card Bill of Rights and wants to implement [...]
The scope of governmental inquiry into credit card practices continues to widen. CompuCredit (and the two banks issuing the credit cards they marketed) have been charged by the Federal Trade Commission and the FDIC with deceptive credit card marketing. The marketing failed to adequately disclose upfront fees associated with the credit cards, which were primarily [...]
Elizabeth Warren, Harvard Law Professor and an author at Credit Slips, has proposed that the federal government create a commission to oversee lending practices and transactions between lenders and consumers. It’s received some traction as it is on Hillary Clinton’s agenda. Read Warren’s CNN Money interview here.
