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MONDAY, NOVEMBER 23, 2009
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NEWS ABOUT: credit card loans

credit card loans stories: 7 news summaries

 Borrowers Ditch Banks, 
 Turn to Peer Loans 

Once modest industry will soon lend more than $5 billion annually

Sep 20, 09 9:38 AM CDT
(Newser) - As the banking pendulum swings from reckless lending to impossible-to-get credit, people are increasingly turning away from institutions and toward each other for loans, reports the Washington Post. The shaky stock market has made the peer-to-peer market ideal for investors, while borrowers happily trade credit card debt for interest rates... More »

MORE ABOUT:
credit • credit card loans • credit market chaos • peer-to-peer • Securities and Exchange Commission

Arbitration Firms Quit Consumer Debt Biz

Credit card, cell phone companies scramble to collect by themselves

Jul 22, 09 8:33 AM CDT
(Newser) - Credit card and cell phone companies are scrambling as two major arbitration firms back out of the business of settling consumer disputes, the Wall Street Journal reports. The National Arbitration Forum—accused in a Minnesota lawsuit of misleading consumers into thinking it was impartial—will stop taking cases this week,... More »

MORE ABOUT:
consumer protection • credit card • contract law • contract • cell phone industry • credit card loans • consumer debt • arbitration • debt collection • National Arbitration Forum • American Arbitration Association

 Feds Overhaul
 Credit Card Rules 

New rules will tighten interest rates, could cost issuers $10B in revenue

Dec 18, 08 11:53 AM CST
(Newser) - Credit card companies will be forbidden from raising interest rates on existing debt after major changes to federal regulations OK'd today go into effect, USA Today reports. Starting in July 2010, the new rules will also restrict issuers' ability to cherry-pick higher-interest parts of balances to pay down first, and... More »

MORE ABOUT:
Federal Reserve • credit card • Treasury Department • credit card loans • subprime crisis

 AmEx Will Lay Off 7K 

Pay increases, hiring halted to prop up credit-card giant's savings

Oct 30, 08 12:26 PM CDT
(Newser) - Noting that even wealthy Americans are struggling financially, American Express announced today it will cut 10% of its workforce, halt executive pay increases, and freeze new hires. The creditor to the elite will charge $440 million against fourth-quarter results to cover restructuring after 7,000 jobs are cut across all... More »

MORE ABOUT:
layoffs • American Express • credit card • credit card loans • financial crisis

 7 Ways to
 Raise Your
 Credit Score 

Simple tips to boost that murky rating

Apr 15, 08 12:19 PM CDT
(Newser) - Credit scores are key if you're getting a new cell phone, new home, new car—even a new job. The Today Show offers 7 simple steps to give your score a boost:
  1. Fix errors on your reports: A mistake on one report can sink a score.
  2. Be timely:
... More »

MORE ABOUT:
personal finance • list • credit card • credit • credit card loans • credit score

American Express Feels Credit Crunch

With defaults on rise, company taking hefty fourth-quarter charge

Jan 10, 08 7:33 PM CST
(Newser) - With consumer spending slowing and credit defaults on the rise, American Express said today it will take a fourth-quarter charge of $275 million to build up its charge-card reserves, the Wall Street Journal reports. The company, which cited housing turmoil as a contributing factor, also predicted earnings to come in... More »

MORE ABOUT:
housing market • American Express • consumer spending • credit card • credit card loans

Big Banks Settle on Superfund Terms

Paulson says fund will help, but analysts bearish on its prospects

Nov 11, 07 12:49 PM CST
(Newser) - The country’s top three banks have finalized agreements for the $75 billion superfund they hope will cushion further blows to the credit market, reports the NY Times. After nearly two months of haggling, Bank of America, Citigroup, and JPMorgan Chase agreed to simpler conditions than outlined in the... More »

MORE ABOUT:
Citigroup • Bank of America • Henry Paulson • Treasury Department • mortgage backed securities • structured investment vehicles • superfund • auto loans • credit card loans • JPMorgan Chase

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