fees

Banks Find Clever Ways Around New Credit Card Rules

Consumers should have seen it coming a mile away. In May, the federal government signed into law the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009, which included lots of new rules designed to protect consumers from predatory practices by banks and credit card companies, such as hidden fees and sky-high interest rates. The new rules, which go into full effect on February 22, threaten to take a big bite out of the $15 billion in penalties and fees that the industry collects each year. So what have banks and card issuers done? They've come up with new fees.

New Hidden Fees on Credit Cards

A new report by the Center for Responsible Lending shows that issuers have created or expanded at least eight hidden charges to replace the income they anticipate losing because of newly enacted laws and Federal Reserve rules intended to stop credit card abuses.

Beware the hidden costs of gift cards

As we start to buy gifts for family and friends, we may decide to go the easy route and get a gift card. But think twice before you choose that...

The power of one ... percent

Psychologically speaking, the number one doesn't do a whole lot for most people. Do you want ONE extra french fry? Do you have ONE dollar I can...

Prepaid cards are filled with pitfalls

Soon after WalMart announced it will pay employees without direct-deposit banking via debit cards, Consumers Union, the organization that publishes...

Paypal wants you to Do Stuff For Money

Sometimes when you need to get something done, asking just won't cut it. As a company that moves around plenty of money, Paypal may know this better...