Senator Dodd, Chairman of the Senate Banking Committee, reintroduced the Credit Card Accountability, Responsibility and Disclosure Act into the U.S. Senate this week.  Although some of the provisions are similar to the Federal Reserve regulations which will be implemented in July 2010, there are additional provisions in the bill as currently drafted which make it [...]

JP Morgan Chase took action recently to cut off the supply of low cost credit it offered to consumers through promotional balance transfer rates.  I’m sure that we all remember the good old days when banks offered a low interest rate balance transfer at a fixed rate for the life of the balance of the [...]