CardAct

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.

Now they like you. For the longest time, it was common knowledge that credit card companies adored customers who were actually terrible with their money. You know, the person who often paid late and kept a high balance but continued using their card anyway. A customer like, well, what I used to...

One of the effects of the Credit CARD Act of 2009 may be that it's going to get tougher for younger people to get credit. Depending on your point of view, this could either be wonderful or terrible news. I tend to see it as great news, because it'll be more difficult for younger adults to get deep...

The long-awaited legislation on new credit card rules, otherwise known as the CARD Act, officially went into effect today. It's been a hard-fought battle for many consumer advocates and representatives of watchdog groups. "This was a huge victory," Ed Mierzwinski, consumer program director for...

While the CARD Act for the new credit card rules goes into effect today, there's still one type of credit plan that consumer watchdog groups warn could trick Americans into paying much more than they bargained for: the interest-free financing offers dangled by retailers of everything from stereos...

Last week, Citibank began issuing letters informing some cardholders that as of April 1, 2010, a $60 annual fee will be applied to accounts. The company didn't return my call for comment, but it has widely been reported that accounts were selected based on customer history and payment performance,...

What would you think if I told you that because of the new CARD Act, which takes effect Feb. 22, visitors to national parks can now carry licensed guns? Strange, but true. Congress has a tendency to pass minor or unpopular legislation under the cover of supported changes. It's a bit of a...