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Articles tagged with: Credit Cards

AFR Report: The Same Old Song – Wall Street’s repeatedly discredited but endlessly repeated arguments against common-sense financial regulation
October 13, 2017 – 3:42 pm

A look back at the financial lobby’s robotic opposition to one proposed reform after another, and how Wall Street’s claims have squared with real-world events. This new AFR report homes in on three pre-financial-crisis case studies, involving credit cards, mortgages, and derivatives.

Statement: CFPB Proposal on Prepaid Cards is an Important Step Forward
November 14, 2014 – 2:05 pm

With the new rules it proposed this week, the Consumer Financial Protection Bureau (CFPB) has moved to make the rapidly expanding world of prepaid and payroll cards a safer and more straightforward place.
The CFPB’S proposal …

Five Years Down the Road, the CARD Act Is a Success Story
May 20, 2014 – 11:02 am

Consumer and civil rights advocates applaud the CARD Act’s success in saving Americans billions of dollars in predatory and excessive fees. By one estimate, the Act has saved consumers $12.6 billion; a recent report from the Consumer Financial Protection Bureau identifies nearly $4 billion annual savings in fees alone.

CFPB Report: Three Years After the CARD Act, Card Holders Have Saved Billions
October 3, 2013 – 10:07 am
CFPB Report: Three Years After the CARD Act, Card Holders Have Saved Billions

Late fees down by an average of $6; more people making above-the-minimum payments; far fewer young adults signing up for credit cards in the first place – these are some of the results of a landmark 2009 law, according to a new report issued by the Consumer Financial Protection Bureau.

STACKING THE DEBT: Consumer Rights in the Financial Marketplace
October 17, 2012 – 3:49 pm
STACKING THE DEBT: Consumer Rights in the Financial Marketplace

Mandatory arbitration and its impact on the world of consumer finance was the topic of a Capitol Hill briefing sponsored by AFR, Public Citizen & the National Association of Consumer Advocates.

AFR in the News: Consumer Complaint Database Producing Results
October 14, 2012 – 11:58 am

Commerce Bank hiked the interest rate on Mira Tanna’s credit card to 20 percent – without telling her. Once she figured out what the bank had done, realized what happened, Tanna decided to make use …

Support Durbin Reasonable Fees And Rules For Payment Card Transactions Amendment #3989
May 13, 2010 – 11:39 am

Senator Durbin
United States Senate
Washington, DC 20510
Dear Senator Durbin:
We write on behalf of Americans for Financial Reform, an unprecedented coalition of over 250 national, state and local groups who have come together to …

New Study: Bankers Dead Wrong About Effects of Bankruptcy Reform
March 25, 2010 – 8:11 am

In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA).  Consumer advocates strongly opposed this bill, warning that it was designed only to profit credit card companies while harming consumers.  A study …