U.s. Fed Rejects Request To Help Credit Card Holders

WASHINGTON (Reuters) - The U.S. Federal Reserve rejected a request to force credit card companies to immediately halt retroactive interest-rate increases on existing balances, Democratic Senator Charles Schumer said on Tuesday.

RELATED ARTICLES
  • Discover Pushes PayPal Payments; First Data Holds Out
    Discover makes headway in bringing eBay's online-payments service to physical retailers, but First Data, one of the country's largest merchant processors, has opted not to support the service. More
  • Consumers' shift to older iPhones raises concerns on Wall Street
    So many consumers are opting to buy older iPhone models that some analysts wonder whether Apple has lost its ability to create new versions that dazzle. How strange to think that Vicki Macchiavello's decision to buy an iPhone after years of using a BlackBerry could be bad news for Apple. More
  • DealBook: Mortgage Relief Checks Go Out, Only to Bounce
    Relief checks issued as part of a settlement over foreclosure abuses have bounced, an unfortunate twist for consumers who have already faced problems over reviews of troubled mortgage loans. More
  • March retail revenue figure inches up
    U.S. retailers are reporting modest sales gains for March as consumers held back due to cold weather during the month and continued worry about the economy. Overall, 14 retailers reported on Thursday that revenue at stores open at least a year — a key indicator of retail health — rose an average of 0.6 percent. More
  • Fed Maintains Rates and Strategy
    The central bank affirmed that it would keep up its existing efforts to stimulate the economy, even though it expected a return to moderate growth. More
BING NEWS:
  • What Is Credit Card Preapproval and Prequalification?
    Vault’s Viewpoint on Credit Card Preapprovals What Does Preapproval Mean? When you’ve been preapproved for a credit card, a credit card issuer has targeted you and is likely to approve you. The ...
    04/26/2024 - 4:19 am | View Link
  • The Fed's manipulation of debit card interchange fees must stop
    The Federal Reserve's new proposal to lower the cap on debit card fees will drive up the prices consumers pay for other services, while forcing some banks out of the market entirely.
    04/25/2024 - 3:00 am | View Link
  • Credit Card Delinquencies Soar to Highest Levels in Over a Decade
    Americans are increasingly struggling to keep up with their credit card payments as high interest rates and persistent inflation strain ...
    04/23/2024 - 2:54 am | View Link
  • Credit card delinquency rates hit worst level since 2012 in new Fed data
    All stages of credit card delinquency — 30, 60 and 90 days past due — rose during the fourth quarter of 2023 to the highest level since 2012, when the Fed began tracking the data.
    04/15/2024 - 2:03 am | View Link
  • US court rejects transfer of credit card fees rule case amid focus on 'judge shopping'
    (Reuters) - A federal appeals court ruled on Friday that a Texas judge wrongly transferred to another court in Washington, D.C., an industry-backed lawsuit challenging an agency rule on credit card ...
    04/7/2024 - 10:16 pm | View Link
  • More

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News