Regulators nix credit card debt forgiveness plan (Fort Worth Star-Telegram)
By MARCY GORDON Federal bank regulators have rejected a request by banks and consumer advocates for a program to let lenders forgive huge portions of credit card debt. The Office of the Comptroller of the Currency rejected the request for a special program that would allow as much as 40 percent of credit card debt to be forgiven for consumers who don't qualify for existing repayment plans. An ...
Regulators nix credit card debt forgiveness plan (Post-Bulletin)
WASHINGTON -- Federal bank regulators have rejected a request by banks and consumer advocates for a program to let lenders forgive huge portions of credit card debt. The Office of the Comptroller of the Currency rej
Regulators nix credit card debt forgiveness plan (San Francisco Chronicle)
Federal bank regulators have rejected a request by banks and consumer advocates for a program to let lenders forgive huge portions of credit card debt. The Office of the Comptroller of the Currency rejected the request for a special program that would allow...
Why banks are boosting credit card interest rates and fees (USA Today)
In recent years, banks have sharply raised interest rates and penalty fees on credit cards. As the economy tanks and banks' mortgage-related losses balloon, some banks are stepping up such increases to boost revenue. Bearing the brunt are consumers for whom a jump in rates and fees can make it tougher to pay their bills at a time when household budgets already are being stretched.
Alternative financing options (The Business Press)
In a rough-and-tumble economy and tight credit market, some small-business owners -- unable to secure a small-business loan or line of credit from a bank -- have been forced to think outside the box to access capital to keep their businesses afloat.
Treasury, Fed Consider New Plan to Aid Auto, Credit Card Loans (Bloomberg)
Nov. 12 (Bloomberg) -- The U.S. Treasury and Federal Reserve are considering a new plan to ease strains in the markets for automobile purchases, student loans and credit-card debt as the government widens the scope of its financial-rescue efforts.