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The Consumer Financial Protection Bureau (CFPB) on Wednesday warned that credit card companies devaluing or canceling reward points, cash back or miles rewards programs may be breaking the law.
Consumer Financial Protection Bureau Director Rohit Chopra tells Yahoo Finance that the high interest rates charged by credit card companies amount to price gouging.
Today's best rates of returns are found at FDIC-insured digital banks and online accounts paying out a limited promotion of up to 5.25% APY on a 10-month CD at Langley Federal Credit Union and up ...
Meanwhile, the collective credit card balance was $1.08 trillion, while student loan debt was $1.6 trillion during the same period. All three forms of consumer debt grew since the third quarter of ...
Get breaking news and the latest headlines on business, entertainment, politics, world news, tech, sports, videos and much more from AOL. ... USA TODAY 10 hours ago
Credit scores can function as a form of social hierarchy that creates opportunities to exploit poor Americans. This can also prevent people from ever escaping their poverty or a poor financial past. [21] Credit scoring systems also act as a way to treat individuals as objects that are subject to a particular set of quantifiable attributes. [22]
Plaintiffs allege that Visa, Mastercard, and other major credit card issuers engaged in a conspiracy to fix interchange fees, also known as swipe fees, that are charged to merchants for the privilege of accepting payment cards, at artificially high levels. In their complaint, the plaintiffs also alleged that the defendants unfairly interfere ...
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