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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.
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 ...
The Consumer Financial Protection Bureau (CFPB) released its new Explore Credit Cards tool this week, intended to allow consumers to compare more than 500 credit cards based on “unbiased ...
However, U.S. consumers still carry a lot of credit card debt, and given the interest rates associated with credit cards, this can be extremely detrimental to their financial health. So, it’s ...
Infographic about credit card debt in the US (2010) Consumer and government debt as a % of GDP (United States) Consumer and government debt in the United States. Credit card debt results when a client of a credit card company purchases an item or service through the card system. Debt grows through the accrual of interest and penalties when the ...
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 ...
Americans' credit card debt has hit a record high, the Federal Reserve of New York said in a report released this week. Credit card debt climbed $24 billion over a three-month stretch ending in ...
The Fair Credit and Charge Card Disclosure Act (abbreviated as the FCCCDA) is an American consumer protection law that requires credit card companies and loan agencies to disclose any "fine print" about a loan or line of credit to the consumer. [1] This includes information about variable interest rates and fees. The FCCCDA was passed in 1988.