Bill Proposed to Restructure and Rename the CFPB

Republican Congressman Randy Neugebauer from Texas has proposed a new bill that will restructure and rename the Consumer Financial Protection Bureau. While other bills of this nature have failed to pass Congress, this proposal seems condensed enough to stand a … Continue reading

Interest Rates on Student Loans Set to Double on Monday

Student loan rates will double on Monday, July 1 from 3.4% to 6.8% since Congress and the President failed to come to an agreement on a way to lock in a lower rate. The issue has been a heated debate but Republicans, … Continue reading Weekly Credit Card Update–June 21, 2013

Young Americans Are Ditching Credit Cards The number of young Americans who are living without credit cards has doubled since the recession. About 16% of consumers ages 18 to 29 didn't have a single credit card by the end of … Continue reading

Bill Introduced to Limit Overdraft Fees

A bill was introduced in the House of Representatives on Tuesday which would put further limitations on overdraft fees on checking accounts. Democrat Carolyn Maloney introduced the "Overdraft Protection Act" bill that would require overdraft fees be "reasonable and proportional" to … Continue reading

How the Fiscal Cliff Could Affect Your Credit Card

The fiscal cliff is getting closer to becoming a reality. The members of Congress and President Obama still seem far apart. Statistics and projections show the painful consequences with tax increases for many consumers. Higher tax payments will be bad … Continue reading

The Importance of Credit Card Receipts

Credit card receipts are printed with every swipe of a credit card. They fill up wallets, purses and car consoles, and are used as scratch paper and bookmarks. It is easy to become careless with these small, but important, strips … Continue reading

Political Scandal Developing Surrounding Credit Card Donations?

A new report released today from the Government Accountability Institute shows that nearly half the members of Congress do not require consumers to give their CVV number when making online credit card donations to their political campaigns. The Card Verification … Continue reading

CFPB: Fewer Complaints Than Expected on Credit Cards

In its first 14 months of operation, the Consumer Financial Protection Bureau has not received as many credit card complaints as it anticipated. Yesterday, the director of the CFPB, Richard Cordray, presented his semi-annual report. He told Congress, "We have … Continue reading