online.wsj.com - 5/22/2009
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Risky borrowers usually are a cash cow for credit-card issuers, thanks to hefty fees and interest rates. But some of that revenue will dry up after President Obama signs new credit-card legislation Friday. Companies that pitch plastic to customers with dented credit histories and issuers ...
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When you cap credit cards, who pays?
SCSUScholars —
When you limit credit cards, you can expect that fewer people will get credit cards. And which people will that be? Risky borrowers usually are a cash cow for credit-card issuers, thanks to hefty fees and interest rates. But some of that revenue will dry up after ...
Five Things for Friday, May 22
Minyanville —
... - Bloomberg The unintended, unpleasant, undiscussed consequence of this legislation is that banks will cut credit to reduce exposure to future loan losses, said Robert Hammer, chief executive officer of R.K. Hammer Investment Bankers, an adviser to card companies. (Not that he has a vested interest against the credit card bill or anything.) Card Firms' Loss Tally: Billions of Dollars in Fees - WSJ The real unintended, "unpleasant" consequence of this legislation is that banks like Bank of America ( ...
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Video: Credit card controversy
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Retailers, Banks Battle Over Credit Card Fees
hf-implode.com 9/17/2009 — " ACongress is considering three bills that would regulate the so-called interchange fees -- which generally amount to 1 to 2 percent of a total sale and totaled $48 billion in 2008. Meanwhile, the Government Accountability Office is doing a study of the fees, as required by a law signed by ...
Why banks are boosting credit card interest rates and fees
usatoday.com 11/10/2008 — "I never missed a payment," says Newsom, 63, of Mesquite, Texas, who owes about $5,000 on the card. "The bank is just looking for a reason to maximize profits." In recent years, banks have sharply raised interest rates and penalty fees on credit ...
Citigroup Starts Annual Fees For Some Credit-Card Users
online.wsj.com 8/20/2009 — APARAJITA SAHA-BUBNA Citigroup Inc. is instituting annual fees on some current credit-card accounts in an attempt to offset strict new legislation that could dent its profits. The move comes on the heels of several warnings from the banking industry, ...
Credit-Card Fees Targeted by Retailers Who Say Banks Overcharge
bloomberg.com 11/30/2008 — Nov. 29 (Bloomberg) -- The subprime mortgage crisis is giving department and convenience stores and gas stations a new argument in asking Congress for power to negotiate the fees banks charge them to process credit-card transactions. Retailers such ...
Inside-Fur Trading —
The Big Money 5/20/2009
Recommended reading: "Bank of America sells $13.5 billion of stock"-- Wall Street Journal and "Suspicions of B of A insider trading"-- Market Ticker
Photo cred: magical-world
The New Threat: Thrifty Americans —
The Big Money 5/21/2009
Betting on a quick global recovery? Think again. Yes, the Federal Reserve saw recent signs of organic economic growth in the U.S. economy -- "tentative signs of improvement," as The Washington Post phrases it this morning -- in deciding last ...
Business this week —
The Economist: Full print edition 5/21/2009
Bank of America said it had raised $13.5 billion since May 8th by issuing common shares. Together with the $7.3 billion it obtained by selling part of its stake in China Construction Bank, BofA is more than half way to reaching the $33.9 billion that ...
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