New Credit Card Regulations Become Law

The long-awaited credit card reform act is finally passed into law as of today.

How the Banks See the Impact of Credit Card Reform

The Federal Reserve did something very interesting recently. They conducted a poll of banks in the U.S. to specifically ask them how the new Credit Card Reform Act would affect the way they do business going forward for both new and existing customers.
In many cases the answers were predictable, while in a few instances they [...]

Credit Card Issuers Raising Rates Ahead of Reform Protections

If you recently received a notice from your credit card company that they will be raising your interest rates you are not alone. Millions of credit card account holders that carry balances are getting the very same letters in the mail. I got mine last week. Thanks American Express!
All issuers, regardless of who your credit [...]

Visa Speaks Out About Credit Card Reform

The chairman of Visa Inc. Joseph Saunders spoke a couple of days ago about what the credit card reform act legislation will mean not only to his company but to the credit card industry as a whole. Nothing groundbreaking here, but there were a few interesting statements that Saunders made.
Saunders believes that the credit card [...]

The Credit Card Holder’s Bill Of Rights Is Finding Massive Support in the Senate

And now it is the United States Senate’s turn to weigh in on the so-called credit card holders bill of rights. Senate Banking Committee Chairman Christopher Dodd of Connecticut is trying to get the legislation passed this week. President Barack Obama, who already has publicly lobbied for credit card reform, would like the bill to [...]