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.
U.s. Fed Rejects Request To Help Credit Card Holders
Reuters: Business News, Reuters: Business
Tue, 05/05/2009 - 11:27am
Sections: business
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BING NEWS:
- The Fed cut rates again — but don’t expect your credit-card APR to get much lower anytime soon. Here’s why.
Interest-rate cuts are supposed to lower borrowing costs, but that’s not necessarily happening for credit-card users.
12/19/2024 - 10:00 pm | View Link - The Fed Cut Rates Again, but Don't Expect Relief From Sky-High Credit Card Interest
Average APRs have inched down slightly, but you should focus on lowering your credit card balance as soon as you can.
12/18/2024 - 8:54 am | View Link - U.S. judge rejects rule capping credit card late fees at $8
The regulation would prevent card issuers with more than one million users from charging more than $8 for late fees unless they could prove to the Consumer Financial Protection Bu ...
12/9/2024 - 4:39 am | View Link - More
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