CARD act

When people talk about the American dream -- buying a home, going to college, starting a business -- banks are usually somewhere in the background. But what if, instead of making your dream come true, your bank relationship actually costs you money?

Even though last year's financial reform was supposed to make credit cards more transparent, consumers are still complaining about interest rates, billing disputes and confusing credit card terms.

At Thanksgiving, we remember the year's blessings and declare hope for the future. But if you're having a hard time swallowing that this year, we offer this recipe for cooking up 2011's most egregious financial news stories. Bon appetite!

It appears that complaints from consumers and regulators about the lack of credit card transparency at banks have not fallen on deaf ears. According to CardHub.com's 2011 Credit Card Application Study, the 10 biggest issuers of plastic have significantly improved transparency this year.

The cat and mouse game continues. Americans are beginning to reap more of the benefits of 2009's landmark credit card protection legislation, the CARD Act, even as some banks continue to add fees. The Act ordered banks to review credit card customers' files to determine if their interest rates...

Today (Feb. 22) marks the first anniversary of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act. Passed in 2009 to protect American consumers from predatory credit card practices and enacted last year, this piece of federal legislation has proven to be something of a...

While consumer advocates welcome new regulations that will prevent banks from dishing out credit to anyone, regardless of their ability to pay it back, some bloggers and lawmakers express concern that the new rules could potentially cut off credit to stay-at-home moms or even women in abusive...

If you received any gift cards over the holidays -- or if you plan to give any in the coming year -- read on: New Federal Reserve regulations implemented after the passage of the CARD Act stipulate that any gift certificate or card has to be good for a full five years after issuance. This holds...

The last thing students need is a credit card if they can't afford to pay it off. But students who are borrowing money for school keep qualifying for credit. Part of the reason? Some are reporting student loans as income, and in some cases, banks are letting them.

Beginning in February, Chase will begin charging a growing number of its customers for basic checking accounts. What might raise some objections is who's being singled out for these new fees: account holders who receive small direct deposits of less than $500. Right now, anyone who gets a direct...