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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: Credit Cardholder's Bill of Rights

Credit Cardholder's Bill of Rights stories: 6 news summaries

Credit Cards Rates Jump Ahead of New Regulations

Companies add fees and cut limits in blind cash grab

Nov 6, 09 1:57 PM CST
(Newser) - If your credit card bill just exploded, it wasn’t an accident. Card issuers have been jacking up rates to historic highs—in excess of 30%—cutting limits, and adding new fees in an effort to squeeze money out of customers before new federal regulations kick in Feb. 22. The... More »

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House Financial Services Committee • Mafia • credit card • Barney Frank • banking industry • Credit Cardholder's Bill of Rights • credit card reform

(Newser) - As many Citigroup customers are already painfully aware, the lender has drastically increased rates on some 15 million credit card accounts, the Financial Times reports. Holders of Citi cards co-branded with retailers such as Sears saw their interest rates climb by as much as 24%—or 3 percentage points—between... More »

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Citigroup • credit card • rate increase • Credit Cardholder's Bill of Rights • credit card reform

New Credit Card Rules Could Trim $10B From Industry Coffers

Law dials back crucial fees, interest rates

May 22, 09 1:53 PM CDT
(Newser) - A law President Obama is expected to sign today bringing new consumer-friendly rules on credit cards could cost the industry $10 billion in revenue, the Wall Street Journal reports. The legislation, which dials back various fees and interest rates, will devastate companies that target consumers with checkered credit histories and... More »

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legislation • credit card • consumer credit • Obama administration • banking industry • President Obama • consumers • Credit Cardholder's Bill of Rights • credit card reform

(Newser) - With revenues from high-risk cardholders dwindling, credit card companies are moving to impose stiffer fees on customers who've been accustomed to preferential treatment, the New York Times reports. Expect banks to bring back annual fees and slash reward programs, say industry insiders. And card holders who pay off their entire... More »

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credit card • hidden fees • credit rating • interest rates • Credit Cardholder's Bill of Rights • credit card reform

(AP) - Putting himself on the side of fuming consumers, President Obama is pushing for Congress to send him legislation by Memorial Day that would immediately reign in the credit card industry, he said in his radio address this morning. The House has passed a bill banning several predatory practices, but it... More »

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credit card • consumer debt • predatory lending • Government Credit Card Abuse Prevention Act • President Obama • rate increase • Credit Cardholder's Bill of Rights

(Newser) - The House today approved legislation to protect credit card holders from hidden fees and sudden rate hikes, Reuters reports. Legislators voted overwhelmingly for the Credit Cardholders' Bill of Rights, a measure banks complain will tighten the amount of credit available and make holding a card more expensive. The Senate is... More »

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Congress • House of Representatives • legislation • credit card • lending practices • consumer debt • Obama administration • President Obama • Credit Cardholder's Bill of Rights

6 Stories


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