Biden slashing credit card late fees to $8 in latest crackdown on junk fees
The Biden administration announced a rule Tuesday that would cap all credit card late fees. It’s the White House’s latest effort to eliminate so-called junk fees, which regulators say could save Americans up to $10 billion a year. New regulations from the Consumer Financial Protection Bureau would cap most credit card late fees at $8 […]
Biden admin cements new rule to limit credit card late fees
The Consumer Financial Protection Bureau (CFPB) on Tuesday finalized rules limiting late payment fees charged by credit card companies. The bureau says this will reduce regular fees by 75%, saving U.S. consumers an average of $220 a year. The consumer watchdog agency estimates the rule would save Americans more than $10 billion in late fees […]
Credit card balances surge past trillion dollar mark as Americans struggle to build savings
Do not use in FNC/FBN digital editorials.Only trusted content (iStock) TransUnion recently reported that credit card balances will reach a new benchmark in the fourth quarter of 2023, with balances exceeding $1 trillion for the first time. report. According to the report, balances grew 13% year over year across all risk tiers, led by subprime, […]
Wisconsin Gov. Evers signs off on massive child tax credit expansion
Democratic Wisconsin Gov. Tony Evers on Monday signed a Republican-authored bill that significantly expands the state’s child care tax credit. The new law expands the Badger State’s child care tax credit to 100% of a claimant’s federal credit. According to a post on X (formerly Twitter), Evers gave the go-ahead to double the state’s previous […]
Time is running out to claim this COVID-era tax credit, IRS warns
(NEXSTAR) – There are less than two weeks left until tax credits created during the COVID-19 pandemic expire. According to the Internal Revenue Service (IRS), people who have not yet filed their 2020 tax return may also be eligible for the Recovery Rebate Credit, but must do so by the May 17, 2024 deadline. There […]
AMC gives Taylor Swift, Beyonce credit for ‘literally all’ of its quarterly growth
Actor Neal McDonough talks about how faith-based films are becoming more popular on “The Bottom Line.” AMC Entertainment’s chief executive officer credited pop stars Taylor Swift and Beyoncé with movie theater operators reporting higher sales and bottom line profits in the fourth quarter. “Literally all of AMC’s revenue growth and AMC’s adjusted EBITDA growth is […]
Credit card interest rates predicted to fall, but debt remains high
Credit card interest rates may drop in 2024, but many consumers still face increasing credit card balances. (iStock) There are various predictions about credit card interest rates in the coming months. As with most interest rates, if the Fed starts lowering interest rates, credit card interest rates are likely to drop as well. Credit card […]
Georgia House advances gun safety training tax credit, ban on gun store merchant category code
Another gun bill passed by the Georgia House on Tuesday would provide tax credits for the cost of gun safety training and gun safes, and another bill would allow financial institutions to differentiate between firearms retailers. The content prohibits the use of the code. The tax credit bill received bipartisan support and passed the House […]
Don’t Give Mega-Stores a Leg Up on Main Street—Stop the Durbin Credit Bill
The following content is electronic payment federation. Throughout our nation’s history, hard-working and dedicated small business owners have kept our economy thriving. But for years, these business owners have had to compete with giants like Walmart and Target. They come to town and often retreat their businesses away from Main Street and onto highway bypasses. […]
What Capital One's Bid for Discover Means for Credit Card Holders – CNET
Two major credit card issuers may be teaming up, with Capital One announcing plans to buy Discover for a whopping $35.3 billion. “Our acquisition of Discover is a once-in-a-lifetime opportunity to bring together two highly successful companies with complementary capabilities and franchises to create a payments network that can compete with the largest payment networks […]