Media Coverage
Media Coverage
| Date | Media Coverage | Topic |
|---|---|---|
| Aug 18, 2009 |
''Starting Thursday, Credit Card Users Get More Rights'' "The first phase of the landmark credit card legislation signed by President Obama in May will take effect this week, forcing card issuers to give consumers more time to pay their bills and to consider interest rate increases." Source: The Washington Post |
|
| Aug 17, 2009 |
''City’s Poor Still Distrust Banks'' "In 1986, when the Lower East Side had just one bank in a 100-square-block area, the high numbers of residents without bank accounts alarmed the city but did not surprise anyone. In the years since, the number of bank branches has skyrocketed, with the big names compelled to open in underserved areas." Source: The New York Times |
|
| Aug 12, 2009 |
''The New Math of Financial Aid'' Despite the availability of federal money, many students rely on private loans from banks. According to TICAS's Project on Student Debt, the proportion of undergrads who took out such loans jumped from 5 percent in 2003–04 to 14 percent in 2007–08. Source: Newsweek |
|
| Aug 8, 2009 |
On PBS' Bill Moyers Journal, Safe Banking Opportunities project director Matt Fellowes spoke about financial products and services utilized by lower-income consumers, the market opportunity in serving these households, and how it can be improved to benefit both these consumers as well as the businesses serving them. Source: Bill Moyers Journal on PBS |
|
| Jun 27, 2009 |
''Banking on the previously unbanked'' "In the wake of the financial crisis, it's a challenge to figure out which banks to trust with your money. According to a new Gallup poll this week, our confidence in the banking system is pretty low to say the least. A record low 22 percent in fact." Source: American Public Media Marketplace |
|
| May 22, 2009 |
''Credit Card Law Has Some Unplanned Booby Traps, Including Higher Rates, Fees, Tighter Credit'' "The new credit card law is receiving widespread kudos as a victory for cardholders over the lenders that impose "gotcha" fees and penalties with scant justification and little notice." Source: Los Angeles Times |
|
| May 20, 2009 |
''Congress Sends Obama a Bill with Sweeping New Rules for the Credit Card Industry'' ''Congress on Wednesday sent President Barack Obama a bill with sweeping new rules for the credit card industry that will affect just about every American. The House voted 361-64 for the bill on Wednesday. The Senate had already approved the measure by a 90-5 vote on Tuesday.'' Source: Newsday |
|
| May 20, 2009 |
''Credit Card Bill a Boon to Consumers'' "It's not a bailout, but this could be quite a week for consumers, with the President expected to sign by Memorial Day the most sweeping reforms of credit card industry regulations in more than 20 years." Source: The Hartford Courant |
|
| May 20, 2009 |
''Bill Aims to Soften Credit Card Rate Shocks'' ''The Senate passed legislation Tuesday to protect credit card holders from sudden interest rate increases, but consumer groups and card issuers warned that people are still likely to face obstacles in getting and maintaining credit.'' Source: The Miami Herald |
|
| May 19, 2009 |
''Graduates Get Option to Repay Student Loans Based on Income'' Starting July 1, borrowers will have a new option: a repayment program that caps monthly payments based on income. It targets borrowers who would have a hard time paying basic living expenses if they had to make standard monthly payments on their loans, says Lauren Asher, acting president for the Project on Student Debt. Source: USA Today |
|
| May 17, 2009 |
"Congress is on the verge of passing legislation that would transform the way credit card companies and consumers interact." Source: The Washington Post |
|
| May 15, 2009 |
''Credit Card Reform Confronts Multiple Consumer Complaints'' "Congress is expected to send credit card reform legislation to President Barack Obama for signing by the Memorial Day weekend." Source: The Tennessean |
|
| Apr 30, 2009 |
''About That New, 'Friendly' Consumer Contract'' "Out of the ashes of the financial crisis small flowers are beginning to bloom. One is an initiative in Washington—and among some companies—to curb ambiguous and sometimes abusive consumer contracts, especially in the credit-card industry. But before anyone celebrates the budding reforms, it's worth looking at how an earlier campaign to clean up customer agreements led right back to confusion and frustration." Source: Bloomberg Businessweek |
|
| Apr 24, 2009 |
''Credit-Card Shocks Anger More Borrowers'' "The Pew Charitable Trusts, in calling for a policy of Safe Credit Card Standards this week, said that 100% of cards allowed the issuer to get paid back in a manner which, according to the Federal Reserve, "is likely to cause substantial monetary damage to consumers," said Nick Bourke, a manager at the institution." Source: The Wall Street Journal |
|
| Apr 24, 2009 |
''Obama gets tough on abuses by credit card industry'' "Obama said that while credit cards are an important source of liquidity for consumers and small businesses, 'The days of any time, any reason rate hikes and late fee traps have to end.'" Source: USA Today |
