Help with Credit Card Debt
NEW YORK (CNNMoney.com) — The average American family carries $8,000 to $10,000 in credit-card debt. A new Web site, called helpwithmycredit.org, was developed by the credit card industry to help consumers out. The site promises to help you manage your debt; communicate better with your credit card companies, and will hook you up with accredited [...]
Chris Dodd Bill to Speed Reforms for 2010
The Federal Reserve last year adopted new credit card rules that ban practices often cited as unfair to consumers, such as raising the interest rate on an existing credit card balance when the consumer is paying the credit card bill on time.
However, those rules don’t go into effect until mid-2010, prompting Sen. Chris Dodd (D-CT), [...]
Credit Card Rules Must Change
If you want an idea of how angry consumers are at credit card companies, get a load of the complaints e-mailed to the Federal Reserve about efforts to prohibit unfair practices by credit card companies. “I have been the victim of credit card companies who have subjectively raised my interest rates,” said Jon C. Kubic [...]