Innovators sought to lower credit card rates through data use.
In 2019, Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Bernie Sanders (I-Vt.) introduced legislation aimed at capping credit card interest rates and associated fees at 15%. Fast forward to 2023, when Sen. Josh Hawley (R-Mo.) proposed a limit of 18%. Then, in 2024, Donald Trump expressed intentions to reduce the rate further to 10%. Ocasio-Cortez and […]
Why I use my Scapia Credit Card each month – Live From A Lounge
In 2023, Scapia introduced a travel-focused credit card that stands apart due to its dedicated apps and features designed exclusively for travel enthusiasts. For instance, the accompanying app lets users book flights and accommodations, and even apply for necessary visas. Then in 2024, regulators instructed their banking partner, Federal Bank, to stop onboarding customers for […]
Fired Democratic credit union watchdog members sue Trump
Two Democratic board members of the National Credit Union Agency (NCUA) sued President Trump for fired them on Monday. The lawsuit is up to date It challenges Trump to fire the leader of an independent agency among federal officials, testing the boundaries of presidential power. Earlier this month, Trump fired two Democrats on the NCUA […]
Federal judge removes cap on credit card late fees – KOMO
A federal court judge in Texas has repealed the Consumer Financial Protection Bureau (CFPB) rule, which limits “excessive” credit cards to late fees to $8. Judge Mark Pittman, who had already blocked the CFPB from implementing fee caps, has decided that the rule would illegally prohibit charging “reasonable and proportional” fees. Related | Congress kills […]
Moody’s downgrades DC credit rating
Moody’s rating announced this week that it is downgradening DC’s credit rating amid a wave of massive federal workforce cuts and hits on the local economy. Moody said New Report Downgrading the district’s issuer rating from AAA to AA1 is a blow to cities where local governments are likely to make it more expensive to […]
Meghan McCain: Ocasio-Cortez’s message 'more powerful than people are giving her credit for'
Meghan McCain, daughter of the late Senator John McCain (R-Ariz.), said Thursday that he hopes that Rep. Alexandria Ocasio-Cortez (DN.Y.) will run for a higher office, supported by an effective economic message. “She’s going to keep running, and the message of economic populism is stronger than people are giving her credit,” McCain, a conservative media […]
EXCLUSIVE: New Report Shows Benefits Of Trump Tax Plan Potentially Cutting Clean Vehicle Tax Credit
Congress could generate billions of dollars in new revenue when cutting taxes on Biden-era electric vehicles (EVs). This is what the Energy Research Institute (IER) shows. The draft of the new report, first obtained by the Daily Caller News Foundation, highlights how to eliminate clean vehicles Tax Credit Program What was launched under former President […]
Loyalty program Bilt to offer points on student loan, housing payments: ‘More mature credit profile’
Bilt Rewards is a loyalty program that offers perks on rent payments and mortgages, bringing attention to student loans, one of the nation’s biggest debt problems. The New York-based startup, which operates as a payment processor, announced a program on Wednesday that rewards students with loans and campus housing payment points. The company already boasts […]
The origin of credit cards, rumored Capital One / T-Mobile card, and Hertz's AI car inspections (Saturday Selection) – Frequent Miler
This week we’ll be hearing some fun stories about how credit cards first came about. After seeing rumors about CapitalOne/T-Mobile credit card, we talk about the introduction of Hertz, an AI-driven system for rental car inspections. Credit cards were invented as businessmen forgot their wallets. According to this article, credit cards were invented in 1949 […]
Key regulator approves merger of Capital One and Discover, paving the way for a new biggest credit card company – CNN
new york CNN – There could soon be a new biggest credit card company in the US. Capital One (COF) has been approved by the duties of the Federal Reserve and the Secretary of Money, and has received loans to merge with Discover Financial Services (DFS), the agency announced Friday. To obtain full approval, the […]