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This month, Congress will vote on a bill to eliminate almost all of the funding for popular credit card reward programs like cash back and travel points. This legislation would allow retailers to ...
The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 is a federal statute passed by the United States Congress and signed by U.S. President Barack Obama on May 22, 2009. It is a comprehensive credit card reform legislation that aims "to establish fair and transparent practices relating to the extension of credit under ...
Sen. Tim Scott introduced a bill Monday to block the Consumer Financial Protection Bureau's action by invoking the Congressional Review Act.
The new rule would apply to large credit card issuers — those with more than 1 million accounts. These companies represent more than 95% of total outstanding credit card debt, according to the CFPB.
Durbin amendment. The Durbin amendment, implemented by Regulation II, [1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by ...
The Equal Credit Opportunity Act (ECOA) is a United States law (codified at 15 U.S.C. § 1691 et seq.), enacted October 28, 1974, [1] that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or ...
Sens. Dick Durbin (D–Ill.) and J.D. Vance (R–Ohio) are two of the leading sponsors of the Credit Card Competition Act, which would artificially cap so-called swipe fees charged by credit card ...
Kirtz, No. 22-846, 601 U.S. ___ (2024) The Fair Credit Reporting Act ( FCRA ), 15 U.S.C. § 1681 et seq., is federal legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies. It was intended to shield consumers from the willful and/or negligent inclusion of ...