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Where’s Our Money?’ Calls on Congress to Roll Back Interest Rates
As interest rates for mortgages, car loans and credit cards soar, American consumers are being forced to borrow their own money at exorbitant rates from the financial firms who access funds from the Fed at rates near zero. That’s another odious element of the trillion dollar Wall Street bailout, notes “Where’s Our Money?” – a blog [...]
Continue reading...Consumers Union Urges Fed to Require Banks to Roll Back Recent Unfair Credit Card Interest Rate Hikes
14. April 2010
After Congress passed legislation last year reining in some of the worst credit card lending practices, many banks responded by hiking interest rates before the new rules went into effect, including on customers with perfect bill paying records. Now Consumers Union, the nonprofit publisher of Consumer Reports, is calling on the Federal Reserve Board to require [...]
Continue reading...Consumer Credit Options Trampled in Push for Financial Regulation
7. April 2010
The newly proposed and widely debated creation of a Consumer Financial Protection Agency (CFPA) under house legislation (H.R. 4173) have critics questioning how its regulation could realistically help the current state of economic crisis and its potential for limiting consumer credit options, reports Pay1Day.com. In an article by South Carolina Senator Jim DeMint, the following was [...]
Continue reading...Southwest Airlines Announces Double Credit Days
7. April 2010
Fly Just Four Roundtrip Flights and Earn a Free* Roundtrip Ticket Anywhere Southwest Serves Southwest Airlines is introducing “Double Credit Days” rewarding frequent flyers with one bonus Rapid Rewards credit on every flight, anywhere Southwest flies. Therefore, Rapid Rewards Members can earn free travel on Southwest by taking just four roundtrip flights from any city [...]
Continue reading...Leader of Hacking Ring Sentenced for Massive Identity Thefts From Payment Processor and U.S. Retail Networks
29. March 2010
The leader of the largest hacking and identity theft ring ever prosecuted by the U.S. government has been sentenced to 20 years and one day in prison for his role in a series of hacks into a major payment processor and several retail networks for credit cards, announced Assistant Attorney General for the Criminal Division [...]
Continue reading...Financial Literacy Month - A Good Time to Have ‘the Talk’ With Your Teen About Money
27. March 2010
The Illinois CPA Society offers suggestions on raising savings smart teens April is Financial Literacy Month, and the recently announced findings of the annual “Teens and Personal Finance Survey” conducted by Junior Achievement (JA) and the Allstate Foundation, indicate it might be wise to pay a little more attention to the importance of financial literacy – [...]
Continue reading...Smart Card Readers Cleaned Quickly and Effectively
13. March 2010
Remove contaminants that cause read errors on Smart Card Readers Dirt, oils and other contaminants are introduced into a card reader every time a credit card is inserted. For the read contacts to properly access the smart chip, it is critical that these contaminants are regularly removed to help avoid card reader errors. This newly released [...]
Continue reading...Weekly Credit Card Rate Report
13. March 2010
Interest rates on new credit card offers rebounded this week, according to the CreditCards.com Weekly Credit Card Rate Report, after U.S. Bank raised rates on several of its card offers.
Continue reading...Area Dining Establishments Informed of Possible Data Security Breach
8. March 2010
Officials of The Westin Bonaventure Hotel & Suites which is independently owned by Today’s IV, Inc. and operated by Interstate Hotels & Resorts, Inc. under a license issued by Westin Hotel Management, L.P. announced that the hotel’s four restaurants—Lake View Bistro, Lobby Court Bar, Bonavista Lounge, L.A. Prime—and its valet parking operations may have suffered [...]
Continue reading...New CARD Act Disclosures
7. March 2010
The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009, which took effect February 22, 2010, requires new disclosures on monthly credit card statements. The Financial Services Roundtable and the Center for Responsible Lending have teamed up to explain a few of these new disclosures, which are intended to make the cost of credit [...]
Continue reading...Increased Electronic-Payment Adoption with the New Credit Protection Act
2. March 2010
Consumer assurances help to boost paperless payments for recurring service invoices, including Utilities, Healthcare, and Subscriptions Following the February 22nd “Credit Card Accountability, Responsibility and Disclosure Act” (the Credit CARD Act), BillingTree Inc., one of the nation’s leading on-demand payment processors anticipates a sharp increase in electronic-payment adoption as a result of increased card-holder confidence and [...]
Continue reading...Payday Loans Growth Likely After Card Act of 2010
24. February 2010
According to Solomon Finance, payday loans lending may increase from the result of the new Credit Card Reforms, known as the CARD act, implemented on February 22, 2010. The new act enforces some stringent rules on credit card companies to protect consumers from ambiguous credit terms, fluctuating interest rates, and uninformed decision making. With [...]
Continue reading...Credit Reform Is Coming - Know Where You Stand
18. February 2010
Equifax offers consumers more insight into their credit history; in advance of Credit CARD Act Major provisions of the Credit CARD (Credit Card Accountability Responsibility and Disclosure) Act of 2009 legislation, including new rules regarding rates, limits and fees, as well as billing and payments will make it easier for consumers to take control [...]
Continue reading...The CARD Act and the College Crowd: MMI Offers Tips for Understanding the CARD Act
18. February 2010
While only 10 percent of respondents in a recent Money Management International (MMI) Back to School survey believe students should use credit cards to finance college costs, many students get their first credit card while they are in college. In fact, 84 percent of undergraduates have at least one credit card, according to a 2009 Sallie [...]
Continue reading...Critical Infrastructure Twice as Likely to be Targeted by Cybercriminals
16. February 2010
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Leading Provider of SaaS Web Security Releases Annual Global Threat Report ScanSafe, the pioneer and leading provider of SaaS Web Security, today issued its Annual Global Threat Report, revealing that critical infrastructure such as energy, pharmaceutical and government assets are more than twice as likely to be targeted by cybercriminals than other organizations. The report is [...]
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18. April 2010
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