LowCards.com Weekly Credit Card Update–March 22, 2013

Lawmakers Target Unfair Overdraft Charges Democrats have introduced a bill that would limit the cost of overdraft fees and prohibit practices that increase the likelihood customers will overdraw their accounts. The Overdraft Protection Act would prohibit financial institutions from charging more … 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

Senate Committee Investigates Credit Report Practices

Today, the Senate Banking Committee will hold a hearing to investigate the accuracy and regulation of credit reports. The hearing is called "Making Sense of Consumer Credit Reports" and credit analysts from the Consumer Financial Protection Bureau and consumer data … 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