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 Credit Card Competition Act Cedes Power to The Fed. Congress Should Not Pass It.
Today, the Senate Judiciary Committee led by Sen. Dick Durbin (D–Ill.) held a hearing titled “Breaking the Visa-Mastercard Duopoly: Bringing Competition and Lower Fees to the Credit Card System.” The ...
11/19/2024 - 12:05 pm | View Link - Credit rejection rates rise for Americans over 2024, says NY Fed
Americans seeking to borrow money experienced increased headwinds in 2024 as applications for credit faced higher rejection rates.
11/18/2024 - 2:09 pm | View Link - Credit is harder to access as rejection rates rise, Fed survey shows
The findings showed reported rejection rates rose to 21% this year, from 20.1% in 2023. That’s well above the 17.6% seen before the pandemic. Borrowers with credit scores under 680 were especially ...
11/18/2024 - 8:15 am | View Link - Why your credit card rate may not go down when the Fed cuts rates
On Sept. 18, the Federal Reserve announced that it was cutting the Fed funds rate by 0.5%. To understand the impact on credit card rates, think of it as a chain reaction. When the Fed funds rate is ...
10/29/2024 - 3:47 pm | View Link - More
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