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Capital One challenged on increasing “fixed” interest rates
Thursday, July 22, 2010 � by jg
Reuters: A federal appeals court in California reinstated a lawsuit against Capital One, after the company more than doubled the interest rate it charged a cardholder who thought she had a “fixed” APR.
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Chase cardholder fights back after accounts closed
Tuesday, July 20, 2010 � by jg
Los Angeles Times: Chase’s failure to respond to his lawsuit in a timely manner may cost it a $2 million judgment.
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What Congress has (and hasn’t) done for consumer financial reform
Friday, June 25, 2010 � by jg
New York Times: “A roundup of some of the biggest consumer issues that members of Congress addressed and where they ended up.”
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Discover sued for misleading tactics in pushing “payment protection”
Thursday, June 10, 2010 � by jg
New York Times: A class action suit accuses the credit card company of “using confusing and misleading sales tactics to get cardholders to sign up for the supposedly optional plan.”
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Consumer Financial Protection Agency may not happen
Friday, January 15, 2010 � by jg
The Wall Street Journal reports Senate Banking Committee Chairman Christopher Dodd is considering scrapping the idea of creating a Consumer Financial Protection Agency, but would insist on the creation of a beefed-up consumer-protection division within another federal agency.
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AmEx is giving us a great big holiday gift
Tuesday, December 8, 2009 � by jg
Penelope, a 26-year-old lawyer in her first job out of law school, learned first-hand an unintended consequences of newly enacted federal legislation cracking down on credit card companies: Credit card companies are taking aim at consumers.