It appears credit card issuers are determined to maintain the high levels of profit they earn from charging fees. A new report released by the Center for Responsible Lending on Thursday shows that they have made or expanded at least eight hidden charges to replace the income they anticipate losing as a result of newly enacted federal legislation and Federal Reserve rules intended to stop credit card abuses.For example, the report shows that credit card issuers have implemented a tactic it calls “pick-a-rate” — and it’s not the customer who gets to pick.
Posts Tagged ‘Enactment’
Credit card new hidden fees
December 11th, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: American Families, Billing Cycle, Cardholders, Center For Responsible Lending, Clauses, Credit Card Abuses, Credit Card Accounts, Credit Card Issuers, Enactment, Federal Legislation, Federal Reserve, Fee Structures, Full Effect, Hidden Charges, Interest Rate, Late Payments, Meaningful Reform, Overdue Balance, Prime Rate, Tactic 
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