Displaying results 1 - 10 of 19 items found.

1. Schumer Bill Targets Overdraft Fees

(Web Page; Mon Aug 30 11:54:00 CDT 2010)

Unfair overdraft fees charged by banks cost U.S. households millions of dollars annually, according to U.S. Sen. Charles Schumer (D-N.Y.), who has drafted legislation that would cut those charges nearly in half. In recent years, more ban...

2. Schumer to Fed: Consumers Need Clarity on New Checking Fees

(Web Page; Mon Jun 28 10:48:00 CDT 2010)

As banks begin charging new checking account fees, Sen. Charles Schumer (D-N.Y.) has asked Federal Reserve Chairman Ben Bernanke to ensure that banking customers will get sufficient and clear notice of any charges that will be imposed. G...

3. Schumer Urges Fed to Accelerate Credit Card Reforms Under Legislative Threat

(Web Page; Mon Aug 30 11:55:00 CDT 2010)

Congressional Democrats have warned the Federal Reserve that if it does not move on its own to more quickly implement new credit card restrictions, they will take the legislative route to force the central bank into action. President Oba...

4. Fed to Examine Rising ATM Fees

(Web Page; Thu Aug 26 09:10:00 CDT 2010)

Independent research conducted by Bankrate.com reveals that banks now impose an average fee of $2.22 to non-customers who withdraw funds from their ATMs. That is up 12.6 percent in the last year and is in addition to the average fee of $...

5. Congress Considers Limits on Credit Card Companies

(Web Page; Fri Aug 20 15:49:00 CDT 2010)

The Senate Banking Committee has approved a bill that would prevent credit card companies from engaging in double-cycle billing; prohibit "universal default," or hiking interest rates when cardholders default on accounts with other credi...

6. Kyl Bill Targets Real-Estate Fraud

(Web Page; Thu Aug 26 12:46:00 CDT 2010)

Sen. Jon Kyl (R-Ariz.) has joined with Sen. Charles Schumer (D-N.Y.) to co-sponsor the Fighting Real Estate Fraud Act of 2009, which would establish a grant program that everyone from local prosecutors to state attorneys general could ta...

7. More Credit Card Protection Sought From Fed

(Web Page; Wed Jul 21 15:30:00 CDT 2010)

Sens. Charles Schumer (D-N.Y.) and Tom Harkin (D-Iowa) are calling on the Federal Reserve to provide more protection to credit card users to prevent exorbitant interest rates for those who fall behind on payments. "Credit card companies ...

8. Debt-Settlement Firms Misled Consumers, GAO Says

(Web Page; Fri Apr 23 11:56:00 CDT 2010)

At a recent hearing of the Senate Commerce Committee, a report by the Government Accountability Office was presented indicating that many debt-settlement firms have misrepresented themselves to consumers by claiming affiliations with fed...

9. Obama Pledges Protections for Credit-Card Users

(Web Page; Mon Aug 30 08:33:00 CDT 2010)

President Obama told credit card industry executives on April 23 that he hopes to soon sign a bill into law to protect consumers. He is pushing for legislation that would prevent unexpected fee hikes, mandate easy-to-understand disclosur...

10. Senators Sort Out Curbs on Credit Cards

(Web Page; Mon Aug 30 12:07:00 CDT 2010)

A bill that seeks to prevent credit card companies from changing interest rates or other terms on consumers who make timely payments is being reworked after winning approval from the Senate Banking Committee in late March. Senators are b...