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The Consumer Financial Protection Bureau in its October 2013 report on the CARD Act found that between the first quarter of 2009 and December 2012, credit card interest rates increased on average from 16.2% to 18.5%, while the “total cost of credit,” that is, the total of all fees and interest paid by all consumers as a percentage of the ...
Prior to the Durbin amendment, card swipe fees were previously unregulated and averaged about 44 cents per transaction. [3] Merchants lobbied heavily for a rule to limit debit card swipe fees. [4] They accomplished this when the Durbin amendment passed with the Dodd-Frank financial reform legislation on July 21, 2010. [5]
During the 2009 United States House of Representatives consideration of H.R. 4173, the bill that became the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Representative Maurice Hinchey (D-NY) proposed an amendment to the bill that would have reenacted Glass–Steagall Sections 20 and 32, which had been repealed by the 1999 Gramm–Leach–Bliley Act (GLBA), and also ...
The credit card reform bill, otherwise known as the Credit CARD Act, goes into effect next month (on February 22, to be exact). While there's a lot to be grateful for in this legislation, there ...
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Jillian Berman, The Huffington Post Even though last year's financial reform was supposed to make credit cards more transparent, consumers are still complaining about interest rates, billing ...
Extended unemployment benefits for 20 weeks in states with an unemployment rate higher than 8.5% and for 14 weeks in the other states, and extended the first-time homebuyer's tax credit until July 1, 2010 111-93: November 6, 2009 Credit CARD Technical Corrections Act of 2009: Made a technical correction to the Credit CARD Act of 2009: 111-94
The law's intent was to set limits on certain fees that credit-card issuers charged their customers and to make it clearer to cardholders what 5 Signs That Credit Card Reform Is Really Working ...