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 cards. As the economy tanks and banks' ...
marginalrevolution.com - 11/14/2008
—
marginalrevolution.com —
Frankly, I am tired of this topic but
every time I try to check the data -...
as best as I can - it doesn't seem to support the rhetoric we are hearing from people at the top [despite real problems blah, blah, blah]. Here's Paulson today : At ...
(more)
Credit Card Crunch?
Comments
Blog Reactions
Monday morning links
The Mess That Greenspan Made —
... Are in a Health Care Squeeze - NY Times Recession or depression? - iTulip HOUSING Fannie reports $29B loss in 3Q as defaults rise - AP O.C. home buyers tap FHA financing - O.C. Register How I bought a foreclosed house - LA Times FED/TREASURY/BANKING Bernanke Put Shows Fed Securing Markets Beyond Greenspan Grasp - Bloomberg A Quiet Windfall For U.S. Banks - Washington Post Why banks are boosting credit card interest rates - USA Today Bear Stearns Risk Manager to ...
Should the federal government encourage more credit card borrowing?
Marginal Revolution —
No, and especially not with federal dollars. Give them back to the people who earned them! Many people use credit cards as charge cards and of course that is both a) efficient, and b) not where the problem is. We're talking about credit card debt as a means of financing consumption expenditures. I am not sure what is the going credit card interest rate for the marginal borrowers who will be aided by this new change in the Paulson plan, but I believe it is over fifteen percent.
More spending today, in return for less spending in the ...
Three Reform Questions
Conglomerate —
... Is there any way to justify a financial products regulator? The press is positive about this, the people I hear from aren't so sure. I'm also not superenthusiastic about this - it certainly isn't worth sacrifcing other things for - but a good regulator might make sure that financial products are transparent and disclosed, those being the sorts of values that we endorse in administrative law. And think about this: credit card issuers make half of their revenues from fees. ...
Related Content
Cash Back Credit Card: Schwab Bank: Visa? Credit Card
schwab.com 12/4/2008 — 1. For information about rates, fees, other costs and benefits associated with the use of this credit card, please see Terms and Conditions . 2. The no-preset-spending-limit feature applies only to Visa Signature transactions and does not mean that ...
Video - Your Money: Lower Interest Rates And You
marketnewslive.blogspot.com 12/24/2008 — Just because the Federal Reserve is cutting interest rates, don't expect your credit card company to necessarily do the same. AP Personal Finance Editor Trevor Delaney takes a closer look.
Video: Credit card controversy
marketnewslive.blogspot.com 4/23/2009 — High credit card fees are coming under fire in Washington but banks say they need to price in risk.
Banks and consumers brace for new credit card rules
reuters.com 12/14/2008 — WASHINGTON (Reuters) - The U.S. credit card industry, harshly criticized for imposing surprise fees and interest rate hikes on consumers, may face a day of reckoning on Thursday.. The Federal Reserve is to vote on credit card reforms that may bring ...
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 ...
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 ...
House Prices and Interest Rates
calculatedrisk.blogspot.com 12/4/2008 — There were two stories published today concerning house prices and interest rates. The first story came out this morning, and quoted a report from Global Insight suggesting "the housing market is now slightly undervalued". Please stop laughing ... And ...
International Long-Term Interest Rates
bespokeinvest.typepad.com 12/28/2008 — As shown in the charts below, long-term government interest rates are in steady downtrends across the globe. While long-term interest rates with a "one" handle have been exclusive to Japan for several years, other countries, especially the US, are ...
Follow WallStreetBlips on Twitter
