Media Coverage
Media Coverage
| Date | Media Coverage | Topic |
|---|---|---|
| Jun 5, 2010 |
''High APR? Don't worry, you can still negotiate'' "In the never-ending battle between credit card companies and their customers over interest rates, consumers still hold at least some of the cards." Source: CNN Money |
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| Mar 8, 2010 |
''Fed proposes rule to limit credit card fees'' "In the latest move to overhaul consumer banking practices, the Federal Reserve unveiled a preliminary rule last week to address pesky credit card fees such as late and over-limit charges. The rule — which will be finalized after the public is given a chance to comment — is as notable for what it doesn't do as for what it does." Source: USA Today |
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| Jan 14, 2010 |
''Consumers score a win on credit card rules'' "Consumers scored a few unexpected victories in a set of Federal Reserve rules issued earlier this week. The Fed issued 1,155 pages of rules Tuesday telling banks how to comply with new laws regulating credit cards that go into effect on Feb. 22. In a handful of cases, in which the law was unclear, federal regulators used their discretion to go a step further to protect consumers." Source: CNN Money |
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| Dec 2, 2009 |
''Credit card rates: Nowhere to go but up'' "For millions of credit card customers, here's the good news: As of Feb. 22, a new law will bar banks from a host of practices that consumer advocates have long blasted as unfair." Source: CNN Money |
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| Nov 15, 2009 |
''Banks Revising Their Old Tricks'' "In some ways, credit card banks are hustling to act before new consumer rights take effect next year. In other ways, they're in no rush at all." Source: News Journal (DE) |
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| Nov 8, 2009 |
''Credit card reforms mean mailings to consumers may include big change'' "A study by The Pew Charitable Trusts released last month found that advertised rates on about 400 credit cards this summer had jumped as much as 23 percent. In addition, the study reported that many issuers were shifting customers from fixed to variable rates, which would ease some of the notification requirements." Source: The Washington Post |
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| Nov 5, 2009 |
''Programs aim to aid 'unbanked''' "Dozens of cities are launching programs to sign up low income people as customers at commercial banks so they can avoid the high fees typical of check cashing stores and payday lenders." Source: USA Today |
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| Nov 4, 2009 |
''Credit-Card Company or Loan Shark?'' "A recent report done by the Safe Credit Cards Project at The Pew Charitable Trusts found that over the past four months, credit-card companies have routinely tacked on new fees, altered account terms, and jacked up interest rates, sometimes to as high as 30 percent." Source: Newsweek |
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| Nov 4, 2009 |
''Credit Cards: Break Up, or Make Up?'' "Credit-card lenders, facing higher defaults and new, profit-crimping laws, have been increasing fees and interest rates, raising minimum payments and cutting credit limits. Some Citigroup Inc. customers have seen their credit limits cut, their interest rates jump as high as 29.99% or their cards canceled altogether." Source: Wall Street Journal |
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| Oct 31, 2009 |
''Credit-Card Rates Up Before New Law'' "...credit-card companies are rushing to raise rates and tack on extra fees ahead of a law slated to take effect Feb. 22 that is supposed to limit such moves in the future. In some cases, rates are doubling to as high as 30 percent or more, even for people who pay their bills on time." Source: The Post and Courier |
