Making good on its word to track concerns such as questionable interest rates and discrimination, the Consumer Financial Protection Bureau recently sent a stern message that it is monitoring auto lenders’ activities.
U.S. Bank, Dealers’ Financial Services charged with deceptive sale, marketing practices.
According to comment letters regarding the Consumer Financial Protection Bureau’s proposed mortgage servicing rules, credit unions are strongly opposed to changes in disclosed annual percentage rates, and are also asking for more time to implement the final rules.
Comments from credit unions express concerns about rates, compliance burden as January effective date approaches.
Credit unions using creative, cost-effective and innovative campaigns to successfully market their credit and debit cards will be recognized by Card Services for Credit Unions at the association's annual conference this week.
Credit card portfolios have had a rough go at things the past couple of years. Even with all the media attention on credit union credit cards in 2010, they grew just 2% that year. The previous five-year trend was an annual average growth rate of 10% to 12%.
A new card from Fifth Third Bank promises to make the often routine cashier question “debit or credit?” a lot more important for consumers who hold them. And it brings the bank a strategy for getting around at least some of the Durbin amendment’s interchange cap.
New plastic from Fifth Third Bank functions as both debit and credit card and avoids Durbin cap.
A controversial study from researchers affiliated with the Federal Reserve Bank of Boston suggests that lower income consumers who generally use more cash and debit cards subsidize the credit card use and rewards of wealthier consumers.