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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: credit card reform

credit card reform stories: 8 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

Obama Signs Credit Card
Bill Into Law

Prez 'has ushered in
a new era' of consumer protections: Dodd

May 22, 09 7:12 PM CDT
(Newser) - President Obama signed a landmark bill into law today limiting the fees and interest rates credit card companies can impose, the Washington Post reports. "Just as we demand credit card users act responsibly, we demand that credit card companies act responsibly too," said Obama at the Rose Garden... More »

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Barack Obama • credit card • 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

(AP) - Congress has sent President Obama a bill with sweeping new rules for the credit-card industry that will affect just about every American. The House approved the measure this afternoon, 361-64. The Senate OK'd it yesterday, 90-5. The new restrictions will protect debt-ridden consumers from many of the surprise charges common... More »

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Congress • House of Representatives • credit card • banking • US Congress • US Senate • Obama administration • banking industry • President Obama • credit card reform

Senate Passes Credit-Card Bill

Measure to rein in rates, fees moves to House; Obama could get it by week's end

May 19, 09 12:54 PM CDT
(AP) - The Senate voted today to prohibit credit-card companies from arbitrarily raising an individual's interest rate and charging many of the exorbitant fees. The vote was 90-5. With the House on track to endorse the measure by week's end, President Obama could see a bill on his desk by the end... More »

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Senate • credit card • President Obama • 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

(Newser) - Nancy Pelosi’s accusation that the CIA lied to Congress about waterboarding will likely have broad political consequences, Chris Cillizza writes in the Washington Post. In the short term, Pelosi has stolen President Obama’s thunder on credit-card reform and could force the early announcement of a Supreme Court nominee... More »

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Nancy Pelosi • Congress • torture • interrogation techniques • talking points • Obama administration • President Obama • truth commission • credit card reform

8 Stories


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