CreditCardsCo Blog Topic - ' Financial News'
The 2009 CARD Act, which is still be hashed out despite the law already being in effect, continues to cause heated debates with politicians and financial experts.
Bank of America is in the hot seat due to its announcement of charging an annual fee of $59 for close to 2 million of its customers.
The news out of the financial sector is confusing – unless you understand the contradictions. Here’s why retail sales are up while credit card balances are down.
This year, Americans without access to a traditional checking account now have a new – and affordable – alternative to expensive rapid refund loans. The IRS is announcing a pilot program that allows taxpayers instant access to their income tax refunds.
Now that the CARD Act is one year old, has anything changed and if so, have the changes been good or bad for consumers? You might be surprised at what we learned.
Shell Oil’s network glitch in late January resulted in 400,000 customers being double charged. Now, consumers are scrambling to cover their bases.
Most merchants abide by the terms and conditions specified by credit card companies. However, if your merchant is not abiding by credit card rules, or cheating you when you use your credit card, then you can ask for redressal once you are sure that the merchant is not following set terms and conditions.
According to the Fair and Accurate Credit Transactions (FACT) Act of 2003, all Americans are entitled to one free annual credit report from each of the three major credit bureaus. This means that you can see how you stack up with Equifax, Experian, and TransUnion every year.
More new credit card rules from the Federal Reserve mean more new card protections for you. Here are some key changes you should expect from your credit card company beginning on August 22, 2010.
Consumers across the U.S. have been sounding about incessant automated telemarketing calls. The Federal Trade Commission (FTC) announced on September 1st these prerecorded commercial telemarketing calls (robocalls) to consumers will be prohibited, unless the telemarketer has obtained permission in writing from consumers who want to receive such calls.
What is a bailout? Since the beginning of the sub-prime mortgage crisis, a lot of financial terms have been thrown around by financial experts, Media, and Uncle Sam but nobody has taken the time out to explain what all these terms mean to Joe who isn’t very good with dictionaries. Outside of a class to gain financial knowledge, this article provides most of what every Joe needs to understand what a bailout is all about.
According to the Federal Reserve and various other independent financial experts, the financial crisis of 2008 was largely an extension of the sub-prime mortgage crisis resulting from a burst in housing prices, and the inability of mortgage borrowers to fulfill their payment obligations and refinance current mortgage. This led to a situation where banks didn’t have enough money for lending and normal business purposes.