Payments/Credit/Debit

Credit card issuers would have to immediately stop raising interest rates on existing balances under the provisions of a bill introduced today by Senate Banking Committee Chairman Christopher Dodd (D-Ct.).

Bank of America and other big credit card issuers are handing credit unions with card programs another strong marketing message by starting to add annual fees to their cards once again.

Credit card issuers with fewer than 2 million credit cards in circulation-including most credit unions-won't have to comply with the CARD Act earlier than planned, as a result of an amendment approved by the House Financial Services Committee.

More evidence has appeared showing that credit unions are bucking the national trend of shrinking credit lines and diminishing use of credit cards.

An executive with TSYS says that credit unions are a prime market for its new Program Solutions effort.

The $5.2 billion Security Service Federal Credit Union in San Antonio is the first CU to roll out a MasterCard tool to help MasterCard debit card holders track their debit card spending online.