Proposed Senate Bill Mandates Free Annual Credit Scores

A proposed bill in the United States Senate would mandate all consumers have access to free annual credit scores. The Stop Errors in Credit Use and Reporting (SECURE) Act is designed to reduce the problems consumers experience through errors in their … Continue reading

LowCards.com Weekly Credit Card Update–July 26, 2013

New Ruling on Credit Card Regulations Could Mean Big Changes at the Cash Register in Canada A ruling expected this week on a complaint against Visa and MasterCard could significantly change how consumers use credit cards in Canada. Striking down the … Continue reading

The CFPB’s Accomplishments in its First Two Years

The Consumer Financial Protection Bureau is celebrating its two-year anniversary with much calmer waters ahead. The CFPB has been the center of political firestorms ever since it was originally formed. Republicans first opposed Elizabeth Warren as the head of the … Continue reading

LowCards.com Weekly Credit Card Update–July 12, 2013

Is a Store Credit Card Right for Your Wallet? Store credit card offers sound tempting but smart shoppers should consider taking the application home and scrutinizing the terms and conditions before deciding whether to apply for the credit card. For … Continue reading

Senate Committee Approves Cordray to Head CFPB

The nomination of Richard Cordray to again head the Consumer Financial Protection Bureau was approved by the U.S. Senate Banking Committee by a 12-10 vote that was split down party lines. Every Democrat on the Committee approved Cordray, every Republican … Continue reading

Vote on CFPB Director Set for Tuesday

After this week's confirmation hearings, Republican senators continue to block the nomination of Richard Cordray to lead the Consumer Financial Protection Bureau. However, a Senate panel has scheduled a meeting for March 19 to vote on Cordray, as well as … Continue reading

Battle on Cordray’s Nomination Continues Along Party Lines

The re-nomination of Richard Cordray as Director of the Consumer Financial Protection Bureau remains a political hot button. Cordray can be confirmed by majority vote in the Senate, but a minority of 40 Senators can block an agreement to hold … Continue reading

LowCards.com Weekly Credit Card Update–February 8, 2013

California Supreme Court Makes it Easier for Apple, Online Businesses to Collect Personal Data A divided California Supreme Court ruled that online merchants such as Apple and Ticketmaster can require consumers to furnish personal information to make credit card purchases. … Continue reading

LowCards.com Weekly Credit Card Update January 25

With Cordray Nomination, Obama Renews Fight With GOP President Obama renominated Richard Cordray for head of the Consumer Financial Protection Bureau on Thursday. Cordray is currently serving in the post thanks to a recess appointment. A year and a half ago, … Continue reading

Top Credit Card Stories of the Year

2012 was a relatively quiet year for the credit card industry. However, there were a number of developments that may have a far-reaching impact in the years to come. Here are the top ten credit card stories of 2012: Swipe … Continue reading

LowCards.com Weekly Credit Card Update December 14

Bank of America’s Plan to Drive Mobile Banking Beyond 12 Million Users As part of a drive to sign up more people for mobile banking, Bank of America is outfitting its teller stations with quick response (QR) codes that can … Continue reading

LowCards.com Weekly Credit Card Update December 7

Credit Card Penalty Payments are Arriving More than $425 million in refunds and restitution will soon be sent to millions of consumers nationwide, penalties paid for deceptive credit card practices. And another $410 million--from Bank of America--is already landing in … Continue reading

LowCards.com Weekly Credit Card Update November 9

Consumer Credit Growth Cools, Credit Card Use Sags In September, growth in consumer credit cooled as households appeared to use their credit cards less frequently. According to Federal Reserve data released this week, consumer credit grew $11.36 billion in September, lower … Continue reading