The Credit CARD Act of 2009 was recently signed into law by Barack Obama. This law will come into effect February 22, 2010 and focuses on three main areas: consumer disclosure, consumer protection, and young consumer protection. Continue reading
Consumer Protection
Debt Relief Companies: Fear or Freedom
Fear or Freedom: The Debt Relief Story
If you’ve watched daytime television recently, it’s hard to avoid them. They’re a three-ring circus of fear and spectacle: where grinning Great Whites and singing repo men entice you to call an 866 number. They sell you an abstraction called ”freedom” to the tune of a gospel choir. These are commercials for debt relief companies. Continue reading
Ins and Outs of the Credit Cardholder’s Bill of Rights Act of 2009
For the many of you who might use your credit cards more than others, you might notice some of the rules will change for the credit card companies. Previous to May of this year, some credit card companies might have been promoting some not-so-awesome policies toward card holders. However, Congress and the current administration pushed through the Credit Cardholder’s Bill of Rights Act of 2009, which by law has ended many of these foul practices by credit card companies. Continue reading
Effect of CARD Act on Students
Credit card reform has been long in coming, and given lenders’ nearly free reign to manipulate rates, any form of cardholder protection is wonderful. Continue reading
Credit CARD Act–Rate Change Notice
One of the most striking aspects of the Credit Card, Accountability, Responsibility, and Disclosure (CARD) Act is the changes to a bank’s abilities to change interest rates on credit cards. This Act, set to take effect in February 2010, gives lenders less opportunities to change rates vicariously without your knowledge. Continue reading
Vehicle Extended Warranties Pricey, Yet Often Worthless
Extended warranties are popular among car buyers who maintain low reserves in their bank accounts. Many can afford an extra $35 a month, but a $2,000 repair bill would really set them back. Continue reading
Monitoring Your Credit Report
Unless you haven’t had a TV or radio for the last several years, you’ve been bombarded with catchy songs advertising a website called “freecreditreport.com”. Perhaps you’ve even sung along. Continue reading
Introducing the Fair and Accurate Credit Transactions Act
On December 4, 2003, the Fair and Accurate Credit Transactions Act (FACTA) was signed into law, intended to protect consumers from the dangers of identity theft by regulating credit companies. Continue reading
Debt Collector Convicted of Attempted Robbery
I know that the actions of Tobias Boyland are not funny, but I just could not help myself when looking at the irony of this case. Collection agencies tend to bend or break the law on a daily basis. This case however deserved a second look. Continue reading
Credit Bureau Collection Services Fined for Violating Federal Laws
Credit Bureau Collection Services and its officers, Brian Striker and Larry Ebert, have been charged with violating consumer protection laws through illegal debt collection tactics. As a result, the company will pay a $1.1 million civil fine to the Federal Trade Commission. Continue reading
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