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Watchdog warns credit card companies over devaluing, canceling reward points, miles

The Consumer Financial Protection Bureau warned Wednesday that it may be against the law for credit card companies to devalue or cancel points, cash back and miles rewards programs. The CFPB report also found that credit cards that offer store-specific perks often charge “significantly higher” interest rates than other cards, and that some companies offer […]

Hawley pitches massive increase to child tax credit

Sen. Josh Hawley (R-Missouri) is proposing a major expansion of the Child Tax Credit (CTC), and is at odds with budget hardliners as Republican lawmakers work toward a tax priority bill. Setting up a potential battle. Hawley wants to increase the CTC from $2,000 to a maximum of $5,000 per child. According to Axiosfirst reported […]

Credit card scams: What to look out for this holiday season – Fox Business

See what's being clicked on FoxBusiness.com. Credit card fraud is on the rise, especially as the holiday season gets into full swing. Fraudsters deploy a variety of tactics to carry out such fraud, including using credit card skimming machines to deploy fake messages about fraudulent or fraudulent charges. Especially during the holiday season, “scammers are […]

St. Louis Public Schools suspends credit cards after spending more than $1.6 million – St. Louis Post-Dispatch

Charges to 21 SLPS-issued credit card accounts from July 2023 to July 2024 totaled approximately $1.6 million, according to records released to the Post-Dispatch on Thursday, Dec. 12, 2024. ST. LOUIS — St. Louis Public Schools leaders have suspended all district-issued credit cards after faculty members spent $1.6 million during former Superintendent Keisha Scarlett's one-year […]

Millennials rely on credit cards at record rate during 2024 holiday season: study

Millennials are relying on credit cards more than ever as they head into the most economically challenging holiday season ever, new data shows. Millennials are using credit cards for the majority of their holiday spending (70% to 80%) and increasing since 2020, according to a three-year analysis of 2,000 American Millennials There is a trend. […]

Court Ruling Will Reignite Debate Over Credit Card Late Fees – PYMNTS.com

Late last week, a federal judge upheld an order blocking the cap on credit card late fees. As reported by PYMNTS. but The debate over fees – their usefulness, whether they should exist or not. At all —It's not over yet. But for now, the Consumer Financial Protection Bureau's (CFPB) move to limit these fees […]