February 22, 2010
January 20, 2010 by Marcy Einhorn, Esq.
That’s the date the Fed’s new credit card rules go into effect. Finally, some oversight to the predatory practices we’ve all been subjected to!
Beginning in February, credit card companies have to let you know 45 days before they increase their rates (unless your rate is tied to an index, expires, or is part of a workout you have with them), and must give you an option to cancel the card!
They must also let you know how long it will take to pay off your balance!
In most cases,...
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Overdrafts cost a bundle
January 16, 2010 by Marcy Einhorn, Esq.
Total cost of overdraft lending in U.S.: $23.7 BILLION Total cost of overdraft lending in NY: $1.5 BILLION Wouldn’t it be nice to have a Consumer Financial Protection Agency? Source: Center for Responsible Lending 1/15/10 Send article as PDF Read More →