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Cardholders are getting hit with fewer penalty fees and surprise interest rate hikes thanks to the Credit CARD Act of 2009, which ended a host of tricks and traps, according to consumer advocates.Mission accomplished?Not quite -- in fact, a sequel to the Credit Card Accountability, Responsibility and Disclosure Act of 2009 could be in the making, as regulators mull over a fresh batch of complaints . Although bankers say the consumer protection law has dried up available credit for many people, watchdog groups point to a list of still-thriving credit card problems that they say should be fixed."The CARD Act has been very successful," said Pamela Banks, senior policy counsel for financial services at Consumers Union. "But the problem is, when you fix some things, other issues crop up."Consumers Union is one of the groups that filed official appeals for action with regulators. The bulging comment file also contains broadsides from the National Consumer Law Center, the Center for Responsib...
Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover...
I like optimists. Who doesn't? Optimism is one of America's defining national characteristics, and was an essential part of this country's rise to greatness. But som...
The federal government's consumer watchdog has changed a regulation to make it easier for stay-at-home parents and others who don't work to be approved for new credi...
American Bankers Association Chief Economist James Chessen on the correlation between quantitative easing and the market rally.
The historic reduction in consumer debt since the start of the Great Recession has come substantially from households tightening their belts, not merely as a result ...
Federal Reserve Governor Elizabeth Duke told bankers Tuesday that she would like to see interest rates rise if the economy was much stronger. "To let rates rise in a...
Paying their bank cards on time doesn't seem to be a problem for most Americans. According to the American Bankers Association, delinquencies in the fourth quarter o...
FBN's Peter Barnes breaks down the new report from the American Bankers Association on credit card payments.
Nearly five years after the housing and financial markets imploded and sent the economy into a tailspin, new data show that consumers are reluctant to over leverage ...
Apple apologizes to Chinese consumers
American Bankers Association Chief Economist James Chessen on the possibility that the U.S. government would tax bank accounts to help with debt.
The largest U.S. banks face a multi-state investigation into whether they helped debt collectors pursue faulty judgments against credit card customers, according to ...
ABA Chief Economist James Chessen on the future of interest rates and quantitative easing.
In a rare sign of bipartisanship, the top Republican and lead Democrat on the House Financial Services Committee are working together on a possible bill to ease regu...
A Federal Reserve study on debit-card transactions undercuts complaints from the banking industry that a government cap on the fees large lenders charge merchants wo...
If you're thinking about sharing a credit card account with someone, take heed. All shared accounts aren't the same. There are different policies with different name...
Why Was My Card Declined?We've all been there -- a perfect moment shattered by the disgrace of a declined credit card.Maybe it was a flawless date -- romantic ambian...
A brazen gang of cyber criminals, who stole $45 million from bank ATMs in 27 countries, exposes an Achilles heel in the global financial industry: prepaid debit card...
More than a dozen of the biggest U.S. banks have questioned a proposed accounting change meant to boost reserves for risky loans, saying the results would be vastly ...
