May 20th, 2009 - The Huffington Post
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When the Senate passed the "Credit Card Accountability Responsibility and Disclosure Act" by a 90-5 margin yesterday, I thought "Guess who's going to get screwed again? Responsible people who pay their bills on time!"
Don't get me wrong -- I think it's a great idea to make the credit card companies accountable for their sneaky ways, but this legislation is likely to cost card issuers $12 billion a year in lost fees and income. To replace that revenue, don't be surprised if firms find other ways to recoup that money.
Related stories:
Jill Schlesinger: Suze Orman Watch
May 22nd, 2009 - The Huffington Post
At first, I threw out my Sunday New York Times Magazine with Suze Orman on the cover. Then, I remembered that I needed the crossword puzzle, so I retrieved it from the recycle bin...
Obama set to approve new rules for credit cards
May 22nd, 2009 - Yahoo! News
WASHINGTON – New rules for the credit card industry that are designed to protect consumers from surprise charges, such as over-the-limit fees and costs for paying a bill by phone...
Credit Card Contract Mumbo Jumbo Not Fixed By Reform
May 21st, 2009 - The Huffington Post
Consumer advocates have praised Congress for its swift passage of the credit card reform bill currently awaiting the president's signature. The bill will limit the ability of credit card companies to gouge customers...
Credit card reform bill advances
May 21st, 2009 - Freep
WASHINGTON -- Legislation limiting credit card companies' ability to raise rates on existing balances and requiring 45 days' notice for rate hikes is about to become law.
House Passes Bill Imposing Tighter Rules on Credit Cards
May 20th, 2009 - ABC News
In a move that could have a significant impact on the credit card industry, the House today voted 361-64 for a bill imposing new curbs on rates and fees levied by card issuers.
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Obamas Superbowl Commercial! Written and Edited by Iman Crosson Please check out and subscribe to Seth Hendrix! (host of www.Thestream.tv) Seth's youtube channel www.youtube.com To check out more of my Obama videos: www.youtube ...
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5:01Credit Card Consumer Rights
Keep track of Sen. Sanders and the goings on in the Senate by signing up for the Bernie Buzz at www.sanders.senate.gov/buzz.
2:05Congressman Ackerman Talks to CBS 2 about Nefarious Practices within the Credit-Card Industry
September 29, 2009: Watch the CBS 2 news report "Credit Card Companies Put Consumers in Vice Grip" on the greedy practices of credit-card companies and how the Credit CARD Act will provide increased protections for consumers. While many of the reforms are not set to go into effect until next year ...
