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This month, Congress will vote on a bill to eliminate almost all of the funding for popular credit card reward programs like cash back and travel points. This legislation would allow retailers to...
The proposed Credit Card Competition Act, a bipartisan bill introduced last year by Sens. Dick Durbin (D-IL) and Roger Marshall (R-KS), targets the dominance of payments processors Visa and ...
New efforts by Congress and small business owners could change the way fees and rewards for consumers work. It could help one side and hurt another. Are credit card rewards at risk?
The rule that the Federal Reserve issued went into effect on October 1, 2011 and capped the interchange rate paid to non-exempt card issuers at 0.05 percent plus twenty-one cents. The rule also allowed these non-exempt card issuers to earn an additional one-cent fraud prevention adjustment for implementation of fraud prevention policies. [13]
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.
Fox News host Jesse Watters highlights how Congress tried to push through an expensive bill with several unfavorable provisions for Americans on ‘Jesse Watters Primetime.'
Credit CARD Act of 2009 The Electronic Fund Transfer Act was passed by the U.S. Congress in 1978 and signed by President Jimmy Carter , to establish the rights and liabilities of consumers as well as the responsibilities of all participants in electronic funds transfer activities.
Among credit card holders, 86% have an active rewards card. This includes more than three out of four balance-active cardholders with a household income of less than $50,000.