There are many aspects to the new credit card regulations enacted under the Credit Card Accountability Responsibility And Disclosure (CCARD) Act Some went into effect last year, some spring 2010 and some will go into effect July 2010. The last changes will take effect August 22, 2010. As part of the CCARD Act, the Fed [...]
Entries Tagged as 'Overdraft'
Overdraft and Late Pay Fee Limits Take Effect in August
June 15th, 2010 · 1 Comment · Credit Cards
Tags: 75 Fed. Reg. 12334·Credit Card Accountability Responsibility And Disclosure Act·Deterrence·Federal Reserve·late fees·Overdraft·reasonable and proportional·Safe Harbor
Overdraft Fee Legislation Gaining Momentum
October 21st, 2009 · 8 Comments · Banking
Sen. Chris Dodd’s battle against banking overdraft fees continues. He introduced a bill on October 19, covering ATM and debit-card transactions as well as checks. Several other Senators are on board with the reform, as the bill is co-sponsored by Senator Charles Schumer D-NY, Sen. Jack Reed D-RI,who is chairman of the Senate Banking Subcommittee [...]
Tags: bailout·Banking·Banking Industry·bounced checks·Chris Dodd·credit card fees·Diane Rehm·FAIR Overdraft Coverage Act·opt-in·Overdraft·proportional fees
Consumer Takes Bank to Small Claims over Overdraft Fees – and Wins!
October 2nd, 2009 · 3 Comments · Banking, I'm suing those guys!
I thought I would share with you a great video which documents one consumer’s fight against the usurious fees charged by the banks for overdrafts. Due to consumer unhappiness and petitioning, U.S. lawmakers have proposed new overdraft fees which has the banks quaking in their shoes. As a result, some banks have been changing their [...]
Tags: Checking Account·court costs·documentary·lawmakers·Overdraft·overdraft fees·small claims court·Wells Fargo
Debit or Credit Cards – Which is Better?
August 17th, 2009 · 6 Comments · Credit Cards
When we say debit in this article, we mean don’t just mean ATM cards, but any card which is tied to your checking or savings account. This includes debit cards which can be used like credit cards. I’ve always personally thought that credit cards are better than debit cards. Here are some reasons why: Bounced [...]
Tags: Blocking·Credit Cards·Debit Cards·fraud·insufficient funds·Overdraft·protections·rewards programs·transactions
