The U.S. federal government through the Federal Reserve, the National Credit Union Administration and Office of Thrift Supervision, adopted new rules today that increase protections for consumers by adopting new regulations for the credit card industry.  The goal is to ban unfair and deceptive practices such as surprise fees and interest rate increases.  The shift [...]

The statute of limitations (frequently abbreviated SOL) is a defense available to debtors that, when successful, defeats debt collection attempts by creditors.  The purpose of the statute of limitations, which is set out in various state and federal statutes and applies to many different types of civil and criminal litigation in addition to lawsuits over [...]

Fair Isaac, the developer of the proprietary model used for the widely accepted FICO credit score, has announced that it has reversed its 2007 FICO 08 decision to remove the effect of an authorized user on a credit card account on the credit score of the authorized user. Its press release explains that it [...]