Upgrades to a survey of credit card terms designed to increase price competition among the cards by allowing consumers to comparison shop for the best prices and products were announced Tuesday by the federal consumer […]
The leaders of six large credit card issuers have been asked to explain some of their companies’ practices of allegedly holding back information about payments made by consumers in letters from the consumer financial protection […]
Late credit card payment fee penalties totaling $12 billion – that is, those fees charged in addition to interest when a cardholder does not make the minimum payment by the due date – were charged […]
Credit access declined during the coronavirus crisis for credit cards but increased for mortgages and auto loans, the federal consumer financial protection agency said in its final report issued Thursday in a series documenting consumer […]
Credit card account limits declined overall during the pandemic – the largest declines being for high-credit-score borrowers – though a spike in account closures early in the pandemic began a decline after May 2020 that […]
Seven policy statements issued from late March to early June 2020 that provided temporary flexibilities to financial institutions in the areas of consumer mortgages, credit reporting, credit cards, and prepaid cards are rescinded as of […]
Taking actions on accounts without consumers’ knowledge or consent – including opening deposit and credit-card accounts in their names, transferring funds from their existing accounts to improperly opened accounts, and enrolling them in unauthorized online-banking […]
The market for credit cards issued to college students is getting smaller, the federal consumer financial protection agency said Monday in a report, as the number of issuers dries up. In its report on college […]
Credit products – including credit cards and non-mortgage lending items such as student loans – were the most-commonly complained about products in inquiries received by the ombudsman’s office of the federal consumer financial protection agency, […]
Automobile loan originations, credit card account management, debt collection, information furnishing, and mortgage originations that were generally completed between December 2018 and March 2019 are outlined in the latest issue of the federal consumer financial […]
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