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Credit Card Industry

Shahien Nasiripour

JPMorgan Chase Says New Credit Card Law To Cost Firm At Least Half A Billion Dollars A Year

HuffingtonPost.com | Shahien Nasiripour | Posted 11.10.2009 | Business

Read More: Transparency, Financial Crisis, JPMorgan Chase, Jamie Dimon, Credit Cards, Consumer Protection, Credit Card Industry, Business News

The nation's second-largest bank said a new law that limits unfair rate hikes and hidden fees will cost it as much as $750 million a year. JPMorgan...

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Credit Card Rates: Banks Plan To RAISE Rates, Annual Fees

AP | JEANNINE AVERSA | Posted 11.09.2009 | Business

Read More: Credit Card Reform, Credit Card Companies, Credit Card Rate Increases, Federal Reserve, Banks, Credit Card Rates, Credit Cards, Prime Borrowers, Credit Card Industry, Credit Card Fees, Business News

WASHINGTON — Banks expect to tighten terms on credit cards in response to a new law that aims to protect consumers from sudden rate hikes, the F...

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Credit Card Companies Continue Practices BANNED In New Legislation: STUDY

AP | EILEEN AJ CONNELLY | Posted 10.28.2009 | Business

Read More: Credit Card Accountability Responsibility and Disclosure Act, Credit Card Reform, Credit Card Industry, Barack Obama, Business News

NEW YORK — Not only have credit card companies continued to use practices that will be outlawed under a strict law due to take effect in Februar...

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Credit Card Fees: Bank Of America, Citigroup Testing New Charge For Customers With Perfect Credit

wcbstv.com | ALEXIS CHRISTOFOROUS | Posted 10.28.2009 | Business

Read More: Credit Card Reform, Bank of America, Credit Scores, Credit Card Industry, Citigroup, Credit Card Fees, Business News

NEW YORK (CBS) ― Loraine Mullen-Kress carries a Bank of America credit card and religiously pays off her balance. "Flawless credit," she boasted....

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Why We Need Robust Consumer Financial Protection

Hilary O. Shelton | Posted 09.30.2009 | Business

Read More: Economy, Consumer Financial Protection Agency, Barney Frank, Consumer Protection Agency, Hilary Shelton, Credit Card Debt, Credit Cards, Consumer Protection, Credit Card Industry, Naacp, House Financial Services Committee, Business News
Hilary O. Shelton

Our current system of consumer protection fails to protect Americans from basic exploitation and abuses that can cost individuals and families hundreds of thousands of dollars, and even their homes.

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August Madness: Politics, Money and Discontent

Michelle Kraus | Posted 09.25.2009 | Politics

Read More: Iraq War, Chelsea Clinton, Meet the Press, Health Care Reform, David Gregory, Credit Crisis, Ben Bernanke, Town Hall Meetings, Credit Card Industry, Arianna Huffington, Martha's Vineyard, Obama Health Care Reform, Afghanistan War, Politics News
Michelle Kraus

Somehow we are locked into the drama of health insurance reform while so many moving parts are ignored. How did we get here? And more importantly, how do we change the conversation?

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Credit Card Reform Won't Pay Down Consumer Debt

Jill Schlesinger | Posted 09.20.2009 | Business

Read More: Credit Card Reform, Consumer Debt, Credit Card Debt, Credit Cards, Credit Card Industry, Business News
Jill Schlesinger

Credit card reform was needed, but it's not likely to help Americans kick their credit card habit just yet.

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How About the Consumer Financial Education Agency

Jim Randel | Posted 08.26.2009 | Politics

Read More: Interest Rates, Survey of Consumer Finances, Mortgages, Credit Card Companies, Consumer Financial Protection Agency, Mortgage Crisis, Cfpa Obama, Credit Card Industry, Politics News
Jim Randel

We do not need more federally-mandated documents and protocols adding time and cost to the lending world (already a bit anemic).

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Why Visiting Pompeii Has Me Thinking About the Smoke Billowing Out of Our Economic Mt. Vesuvius

Arianna Huffington | Posted 08.20.2009 | Business

Read More: Foreclosures, Job Losses, Wall Street Bailout, Bankruptcy, Pecora Commission, Aig, Neil Barofsky, Credit Card Debt, Goldman Sachs, Unemployment, Bailout, Pompeii, Financial Crisis, Economic Recovery, Wall Street, Health Care, Credit Card Industry, Business News
Arianna Huffington

Before Pompeii was wiped out by a volcanic eruption in 79 A.D., there were warning signs galore. But they were ignored. There is currently plenty of alarming smoke pouring out of our economic Vesuvius. It too is being ignored. READ MORE States Forced to Cut Services to the Bone: The Opportunity Cost of the Bank Bailout Reading about the huge budget cuts almost every state in the country is being forced to make leaves us pondering the opportunity cost of the bank bailout -- what else we could have done with the trillions we spent. The devastation is in the details... READ MORE TiVo Alert: I will be part of Sunday's roundtable panel on This Week with George Stephanopoulos, along with Paul Krugman, George Will, Donna Brazile, and David Brooks. The show airs at different times around the country, so check your local listings.

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Credit Card Delinquency Rates Up 11% From Last Year

Jun. 8, 2009 | Julianne Pepitone | Posted 07.09.2009 | Business

Read More: Transunion, Credit Card Delinquency Rates, Credit Card Debt, Credit Cards, Credit Card Industry, Business News

NEW YORK (CNNMoney.com) -- Credit card delinquency rates jumped 11% in the first quarter, possibly indicating that consumers are using tax refunds to ...

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Five Reasons to Push Your Kids to Get a Credit Card

Jim Randel | Posted 07.02.2009 | Business

Read More: Debt, Congress, Finance, College, Economy, Financial Crisis, Credit Crisis, Credit Cards, Young People, Credit Card Industry, Barack Obama, Business News
Jim Randel

Let's use our energies and experience not to prevent young adults from having access to debt but rather to educate them as to how to use debt responsibly.

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Plastic Surgery

Ina Pinkney | Posted 06.20.2009 | Chicago

Read More: American Express, Diners Club, Visa, Interchange Rates, Debit Cards, INA's, Banks, Discover, Mastercard, Credit Card Industry, Credit Card Fees, Chicago News
Ina Pinkney

I propose a new way of thinking about transactions that is based on paying cash as a bridge to connect human beings in relationships of service.

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Your Credit Card Company is Spying on You

Carine Fabius | Posted 06.19.2009 | Business

Read More: Mastercard, Banks, Obama, Credit Cards, Credit Card Debt, American Express, Visa, Credit Card Industry, Financial Crisis, Business News
Carine Fabius

Let's start using debit cards and cash as much as we can to help f*#@! the credit card companies.

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Reform in the Age of Plastic

Sen. Chris Dodd | Posted 06.19.2009 | Politics

Read More: Congress, Senate, Economy, Credit Crisis, Chris Dodd, Credit Cards, Credit Card Debt, Democrats, Credit Crunch, Consumer Protection, Credit Card Industry, Politics News, Politics, Politics News
Sen. Chris Dodd

Over and over we've heard that consumers should act responsibly when it comes to credit cards. I agree -- but it's time we held credit card companies to the same standard.

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Obama Calls for An Extreme Makeover of Our Culture: Are the Credit Card Companies Listening? [Updated]

Arianna Huffington | Posted 06.18.2009 | Politics

Read More: Elizabeth Warren, Economy, Economic Crisis, Obama Administration, Financial Crisis, Real Time With Bill Maher, Credit Crisis, Obama Economy, Credit Cards, Barack Obama, Credit Card Industry, Ryan Grim, Usury, Politics News
Arianna Huffington

In The Divine Comedy Dante assigned usurers to the seventh circle of hell. The Senate obviously needs a refresher course -- since it overwhelming voted down Bernie Sanders' measure that would cap credit card interest rates at 15 percent.

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Credit Card Defaults Hit Record Highs In April

Reuters | Posted 06.18.2009 | Business

Read More: Citigroup, Wells Fargo, Credit Crisis, Credit Card Defaults, Credit Cards, Credit Card Industry, Business News

U.S. credit card defaults rose in April to record highs, with Citigroup and Wells Fargo posting double digit loss rates, as the recession slashed more...

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Jason Linkins

Colbert Takes On Credit Card Industry: "Being In A Financial Hole Is As American As Borrowing Apple Pie"

HuffingtonPost.com | Jason Linkins | Posted 06.12.2009 | Comedy

Read More: Credit Card, Video, Credit Card Industry, Credit Card Bill of Rights, Stephen Colbert, Tamara Draut, Credit Card Debt, Comedy News

Colbert makes macabre fun of the credit card industry, our willingness to spend our way into trouble, the industry's monkey spun rule-randomizing wheel, and the terrifying fine print of their user agreements.

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Moving Ahead on Reforming the Credit Card Industry

Jose A. Garcia | Posted 06.06.2009 | Politics

Read More: Demos, Legislation, Credit Cardholders Bill of Rights, Credit Card Industry, Credit Crisis, Credit Cards, Recession, Credit Card Regulations, Banking Industry, Predatory Interest Rates, Economy, Credit Card Debt, Chuck Schumer, Carolyn Maloney, Politics News
Jose A. Garcia

It is projected that, between 2020 and 2030, developing country emissions of carbon from energy use will exceed those of developed countries.

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Voices from Vermont and America on Credit Card Rip-Offs

Sen. Bernie Sanders | Posted 06.05.2009 | Business

Read More: Bernie Sanders, Senate, Credit Cards, Bailout, Credit Card Debt, Credit Card Industry, Business News
Sen. Bernie Sanders

I hope you will read these stories from Vermont and the nation. They offer a window into the outrageous behavior of credit card companies, and why we need fundamental reform of the industry.

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Reading The Pictures: Obama Schools The Credit Card Industry

Michael Shaw | Posted 05.24.2009 | Media

Read More: Politics, White House, Credit Card Industry, Washington, Larry Summers, Obama, Slideshow, Business, News, Recession, Media News
Michael Shaw

2009-04-24-shawcredit.jpgObama used the bully pulpit to dictate to the credit card suits how the industry is going to treat the consumer from now on.

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Arthur Delaney

Dem Senators Call For Freeze On Credit Card Interest Rates

HuffingtonPost.com | Arthur Delaney | Posted 05.24.2009 | Politics

Read More: Credit Card Freeze, Chris Dodd, Charles Schumer, Credit Card Industry, Politics News

Last year, the Federal Reserve announced new rules for credit card issuers that would rein in controversial practices like arbitrary rate increases on...

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Obama Credit-Card CEOs Meeting: President To Push New Rules

AP | BEN FELLER | Posted 05.24.2009 | Politics

Read More: Credit Card, Obama Wall Street, College Student Credit Cards, Federal Reserve, Obama, Credit Card Rates, Congress, Obama's First 100 Days, Obama Economy, Credit Cards, Barack Obama, Credit Card Bill of Rights, Politics News, Obama Credit Card Abuses, Credit Card Industry, Credit Card Companies, Credit Card Debt, Economy, Obama Credit Flow, Politics News

WASHINGTON — President Barack Obama said Thursday he is determined to get a credit-card law that eliminates the tricky fine print, sudden rate i...

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Obama's Credit Card Dog Day Afternoon

Stuart Whatley | Posted 05.22.2009 | Politics

Read More: Congress, Obama Wall Street, Credit Card Companies, Economy, Credit Card Bill of Rights, Federal Reserve, Credit Card Rates, Obama, Credit Card Debt, Credit Cards, Obama Economy, Barack Obama, Obama Credit Flow, College Student Credit Cards, Obama Credit Card Abuses, Credit Card, Credit Card Industry, Politics News
Stuart Whatley

In the current system, credit card companies do not provide an essential service anymore; it's more a societal stranglehold -- a gun to the head of the middle class.

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Bars Continue To Set Credit Card Minimums Despite Company Rules Against Them

Decider | Steve Heisler | Posted 04.11.2009 | Chicago

Read More: Bar Credit Card Minumums, Credit Card Minimums, Bar Tabs, Credit Card Industry, Chicago News

[I]t all starts when bars enter a partnership with the credit-card companies--in exchange for the ability to let customers pay with Visa, MasterCard, ...

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When Did Debit Cards Become #@*!ing Credit Cards?!

Cecilia Michelson | Posted 04.07.2009 | Business

Read More: Yoga, Bank Fees, Economy, Karma, Us Economic Crisis, Banking Crisis, Credit Cards, Debit Cards, Credit Card Industry, Business News
Cecilia Michelson

Now I see that perhaps banks didn't care to explain the terms very carefully to borrowers who perhaps weren't educated enough to do the research themselves.

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