The Magic Of Credit Cards (and The Senate Bill That Reveals The Tricks)

This post was written by matt wallaert, lead scientist on May 25, 2009
Posted Under: Finance News | Comments

Edward Yingling may not look like your typical magician. An older gentlemen with a serious face, it is hard to imagine him with a top hat, cape, and fake flowers. But while he may not be able to pull a rabbit out of his hat, he’s the primary lobbyist for an industry that is [...]

What The New Credit Card Rules Mean For You

This post was written by elisa cundiff, outreach coordinator on May 21, 2009
Posted Under: Finance News | Comments

The Senate has finally passed sweeping legislation aimed at overhauling the credit card industry.  The days of on-a-whim interest hikes, nonsensical fees, and impossible language are (hopefully) over!
And how did the Credit Card companies respond?  With threats toward their customers, naturally.
First off, let’s talk about how the bill changes what credit card companies can do:

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