Table of Contents

Overdraft fees are big business for big banks
Frustrated by overdraft fees charged by your bank? You're not alone. A new report filed by U.S. PIRG Education Fund explains how overdraft fees result in billions in revenue for financial institutions across the country. Is your bank on the list of the worst offenders? Comments: 0

Prepaid cards: New report finds fees, gotchas
A new report finds that upon close examination, prepaid debit cards are laden with numerous types of fees and other gotchas. Comments: 4

FDIC study: Serving the unbanked and underbanked
In the first national survey of banks' efforts to serve unbanked and underbanked individuals and families in their market areas, the FDIC found that improvement may be possible in certain areas. Comments: 1

Reasons you can’t get your credit report fixed
A noted national consumer law organization releases a report documenting the abysmal quality of the credit report dispute system provided for by law to protect consumers from errors in their credit reports. Comments: 2

Could regulations have prevented the economic crisis?
A new report by the Congressional Oversight Committee points to three areas of regulation that could have prevented the current economic crisis. Comments: 1

Merchants get Congressional help on fair interchange fees
The Credit Card Fair Fee Act of 2008 (HR 5546) would allow merchants to negotiate directly with the card associations in an effort to lower interchange rates. Comments: 0

Credit Cards Prey Upon The Poor
Consumers are being victimized by credit card offers that charge hundreds of dollars in fees and extend minimal credit, says new report by the National Consumer Law Center. Comments: 2

The Arbitration Trap: Credit Cards Companies Ensnare Consumers
Consumers who seek justice in disputes with their credit card companies shouldn’t expect to find it in binding mandatory arbitration (BMA); in cases decided in California by a major arbitration firm over a four-year period, consumers lost 94 percent of the time, according to a new Public Citizen report . Comments: 1

Families Rely on Credit Cards to Make Ends Meet
According to a new report published by Demos, American families are using credit cards to bridge the gaps created by stagnant wages and higher costs of living and balances have grown dramatically since 1989. Comments: 0

Responsible College Credit Card Marketing
U.S. PIRG launches “Truth About Credit Campaign” to put a stop to the out-of-control marketing and unfair practices of the credit card industry. Comments: 0