Quantum physics may make future credit cards “impossible to hack,” say the authors of a recent study. As we all know, credit cards in their current state are prone to exploitation. This can cause major headaches for consumers hoping to keep their identities and credit lines out of the hands of cyber crooks. The credit…
The same problems that plagued the foreclosure process — and prompted a multibillion-dollar settlement with big banks — are now emerging in the debt collection practices of credit card companies. As they work through a glut of bad loans, companies like American Express, Citigroup and Discover Financial are going to court to recoup their money….
The American Banker’s Jeff Horwitz recently put together a fantastic story exposing widespread internal irregularities at Chase regarding its credit card practices. The story is pulled from information gathered from a number of current and former Chase employees. It all began back in 2009 when Chase’s credit card team sold off credit card judgments valued…
Anne Sessions of Lane County, Oregon is suing Wells Fargo after one of its debt collectors reported to police that that the 85-year-old was threatening suicide, a claim she maintains was false, The Oregonian reports. After hitting financial trouble, Sessions says she arranged a payment plan for her credit card debt with Wells Fargo last…
The allegations charge JPMorgan with robo-signing, which is the automatic generation of documents such as foreclosure notices without a notary or following the legal process, among other illegal practices.
Debt collection harassment attorney Craig Kimmel and client Patrice Perry appeared on Fox News to discuss a case against Capital One.
Perry’s troubles started in May 2009, when Capital One began trying to collect an alleged credit-card debt from her, according to the suit. The company not only called her at home and at work repeatedly, it also called her family and co-workers, the suit said.
JPMorgan Chase & Co.’s credit-card contracts will no longer require disputes to be settled through arbitration, a practice that lawmakers said was biased against cardholders, to help settle an antitrust lawsuit.
Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a purchase instead of allowing a grace period of weeks, according to bank officials and trade groups.
The woman is basically saying I am going to penalize you, Bank of America for raising my interest rate again. But is she really making things more difficult for Bank of America, or for herself in the long term?