Posts Tagged “American Banker’s Association”

May 19 2009

Late on your credit card payment? That’s okay, help is on the way

Posted by AWB in Uncategorized

Once again taking from those that are responsible, and giving to those that are not.

Now Congress is moving to limit the penalties on riskier borrowers, who have become a prime source of billions of dollars in fee revenue for the industry. And to make up for lost income, the card companies are going after those people with sterling credit.

Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a purchase instead of allowing a grace period of weeks, according to bank officials and trade groups.

Read the rest of this entry »

Tags: American Banker's Association, Bailout, credit cards

7790No Comments »2009-05-19+18%3A58%3A00AWB

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