Credit Card Bill Headed to Senate
May 13th, 2009
Legislation that will forever change how credit issuers do business is swiftly moving through Congress with the strong support of President Obama and his administration. In fact, the House has already passed its version of the Credit Card Holders Bill of Rights, and now the Senate is gearing up to vote on its own version later this week. We still don’t know exactly what will end up in the Senate’s final version of the bill, but you can bet it will be even more thorough and complex than what the House put together. More »
Posted By: Joshua Heckathorn | Comments (0)Obama Calls for Credit Card Reform
April 28th, 2009President Obama has already made transparency a key theme for his administration, and it’s clear he expects the same from leading companies in the credit card industry. Sitting at a long table surrounded by key executives from corporations such as American Express, Bank of America, Citigroup, and Capital One, Obama stated, “No more fine print, no more confusing terms and conditions. We want clarity and transparency from here on out” (The Washington Times). Has the moment finally come? More »
Posted By: Joshua Heckathorn | Comments (0)Credit Card Execs Prepare for Obama Beat Down
April 23rd, 2009The Obama administration has been largely silent about the credit card holder bill of rights since last year’s presidential campaign. However, a meeting scheduled for today with key executives from 14 major credit issuers suggests Obama is finally gearing up for an extended beat down that will have lasting effects on how credit card companies do business. More »
Posted By: Joshua Heckathorn | Comments (0)Suze Orman Changes Her Mind
April 7th, 2009The Queen of Personal Finance or Ugly Vests, whichever you prefer, recently shocked followers when she announced on the Oprah Show that it’s time for some people to finally give up on paying down nasty credit card debt and stash their cash instead. What? I’m sorry Suze, but you really blew it with this one. Paying the minimum balance on credit cards is now and always has been a poor financial decision. More »
Posted By: Joshua Heckathorn | Comments (5)Frugality Becomes Chic
April 1st, 2009
Rise up all you frugalists and be heard! Now is your time to finally enjoy some bragging rights. While your friends bought multiple homes, boats, cars, and racked up some serious credit card debt to keep up with the latest trends, you quietly lived within your means and saved up a pile of cash for troubled times. It may not have been easy at first, but after awhile you found it became a natural part of your everyday life. More »
Posted By: Joshua Heckathorn | Comments (0)
