The Federal Reserve announced that it had significantly understated debt balances in the period from December 2010 to July 2012. The central banking organization would revise its data to reflect...
Continue readingOver the summer, Visa and MasterCard reached a settlement with key players in the retail industry that would amount to $7.2 billion in cash payments and temporarily reduced swipe fees. This week, the...
Continue readingCredit card wars are heating up across the country. Now more than ever, credit card companies are turning to extended introductory offers geared toward new credit card customers. The new hot trend is...
Continue readingPopular stores like Walmart, Target, Home Depot, and Kohl's have long issued their own credit cards to encourage customer loyalty. Now, with the US economy improving, retailers are issuing more and...
Continue readingNew laws, including the infamous CARD Act, make accessing credit cards more difficult for college students. But the new law won't make plastic completely inaccessible - where credit cards have...
Continue readingCredit card companies are finding it easier to obtain the financing necessary to fund consumer credit cards. Unbeknownst to most consumers, credit card companies do not own the money they lend to...
Continue readingThe credit card industry is fighting for more share of a smaller pie. Consumers, concerned about their financial futures, have cut back on spending. Now credit card companies are battling one another...
Continue readingA recent survey by J.D. Power and Associates finds that consumers are happier than ever with their credit cards. A combination of lower fees, better terms, and lower balances, seems to have boosted...
Continue readingThe Chinese government has been a stiff regulator of American banks in China, requiring US-based banks to work with Chinese banks when issuing loans and consumer lending products to Chinese...
Continue readingBank of America announced that it would drop its controversial product intended to backstop consumers when they cannot make a payment on their credit card. The product, known as debt-cancellation, is...
Continue readingFor years, banks have been engaged in a process known as "robo-signing", a phrase that describes the automatic processing of financing paperwork. Since the dot com boom, more banks are using...
Continue readingCredit card debt may be flat, but delinquencies are anything but. Recently, credit card users have been paying off their balances on time and with regularity. Delinquencies just touched a new 18 year...
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