Synchrony's Planned Rate Hike Unjustified, Advocates Say
Consumer advocates question what is driving higher rates and defend the new late fee rule by the CFPB.
Read More about Synchrony's Planned Rate Hike Unjustified, Advocates Say
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Consumer advocates question what is driving higher rates and defend the new late fee rule by the CFPB.
Read More about Synchrony's Planned Rate Hike Unjustified, Advocates Say
Consumer Advocates Strongly Support “Fair, Reasonable, and Proportional” Rule to Reduce Credit Card Late Fees WASHINGTON — Advocates with the National Consumer Law Center and eight other advocacy groups submitted comments today in response to the Consumer Financial Protection Bureau’s (CFPB) proposed rule limiting credit card late fees. The groups say the proposed rule will…
Read More about Consumer Bureau Proposes $8 ‘Safe Harbor’ on Credit Card Late Fees
Washington, D.C. – Under the guise of allowing “relief” to consumers during the COVID-19 pandemic, the Consumer Financial Protection Bureau (CFPB) issued guidance yesterday that will undermine critical consumer protections in federal law that ensure that consumers receive important disclosures about credit card transactions in writing. The guidance, supposedly issued to provide consumers relief to…
Boston – As Black Friday approaches, the National Consumer Law Center warns holiday shoppers of a lurking danger in the local mall, big box store or online: deferred interest promotions on credit cards. These promotions entice consumers with promises such as “no interest for 12 months” or “0% interest until December 2020,” but there is…
Download NCLC infographic of big ticket holiday gifts’ cost at time of purchase and with deferred interest: https://www.nclc.org/resources/dont-let-deferred-interest-ruin-your-holidays/ Boston – As Black Friday approaches, the National Consumer Law Center warns holiday shoppers of a lurking danger in the local mall, big box store or online: deferred interest promotions on credit cards. These promotions entice consumers with…
Financial Watchdog Needed; Advice to Consumers On Monday, February 22, the long-awaited – and long-needed – protections of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act go into effect. The Credit CARD Act, passed in May of last year, puts an end to some of the worst abuses by credit card companies. Even after…
Read More about Credit Card Protections Take Effect Feb. 22 But Loopholes and Abuses Persist