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Dodd warns banks on credit card rate increases

Jul. 9, 2009
Sen. Christopher Dodd, chairman of the Banking Committee, on Thursday warned credit card companies against jacking up interest rates before legislation takes effect that would limit their ability to do so. In a letter to federal regulators, Dodd asked for...
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Credit card rates rise, law or no law

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U.S. House approves credit card bill

U.S. House approves credit card bill

WASHINGTON, May 20 (UPI) -- The U.S. House Wednesday overwhelmingly OK'd credit card reform legislation that would require plain contract language and notice of interest rate changes.

Senate strikes credit card bill compromise

WASHINGTON, May 12 (UPI) -- Top Senate Banking Committee members reached a compromise on a bill that would protect U.S. consumers from abusive credit card industry practices.

Canadian banks defend credit card fees

OTTAWA, April 2 (UPI) -- The Canadian Bankers Association defended credit card fees to a senate committee in Ottawa, saying consumers have a choice of 68 low-rate cards.

Fed flooded with credit card commentary

WASHINGTON, July 29 (UPI) -- The Federal Reserve's proposal to reign in deceptive credit card policies has drawn thousands of comments, the U.S. central bank said.

Credit card rates climb on bank losses

NEW YORK, April 28 (UPI) -- U.S. credit card companies are raising rates as banks try to make up for losses in other departments, financial experts said Monday.

Despite Fed, banks raise credit card rates

WASHINGTON, Feb. 11 (UPI) -- Customers who expect a decline in credit card rates after the U.S. Federal Reserve drops a key interest rate may be in for a surprise, financial analysts said.

Credit card companies face scrutiny

WASHINGTON, Dec. 2 (UPI) -- U.S. credit card issuers are under pressure to change some profitable practices, like raising interest rates based on card-holders' other debts.

Credit card fees, penalties are climbing

WASHINGTON, July 29 (UPI) -- U.S. credit card issuers are hiking interest rates and late fees, especially for those whose cards have floating or variable rates.

Barclays: Bad credit card is rising

NEW YORK, May 27 (UPI) -- Barclays PLC, Britain's third-largest bank, is warning that bad credit card debt is growing at an alarming rate.
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President Obama awards the Presidential Medal of Freedom in Washington
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President Barack Obama awards the the Presidential Medal of Freedom to singer/songwriter Bob Dylan during a ceremony in the East Room at the White House in Washington on May 29, 2012. The Medal of Freedom is our NationÕs highest civilian honor, presented to individuals who have made especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors. UPI/Kevin Dietsch