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Feds Tackle Subprime Credit Cards' High Fees (HispanicBusiness.com)
WASHINGTON -- Subprime credit cards might be the worst consumer credit product ever marketed. Their high interest rates, costly penalties and high, hidden fees can eat up nearly all the credit available from the cards and, over time, turn a $100 purchase into more than a thousand dollars of debt.
Nagin imposes new rules for use of city credit cards (New Orleans Times-Picayune)
Mayor Ray Nagin says reports of his and his staff's use of city credit cards for lavish meals have led to new procedures for reporting and documenting charges to the public's plastic.
CSO discount cards helping downtown (Lansing State Journal)
Construction discount cards tied to the city's Combined Sewer Overflow project apparently are working some magic in downtown Lansing.
Paving way with good inventions (Colorado Springs Gazette)
Mario Salazar gambled his retirement savings and borrowed more than $60,000 on his credit cards in hopes that his digital miter gauge would attract enough attention at an Atlanta trade show to keep him out of bankruptcy.
Bank of Beijing eyes 150,000 credit cards in 2008 (Reuters via Yahoo! Singapore News)
BEIJING, July 1 (Reuters) - Bank of Beijing <601169.SS>, a medium-sized Chinese lender, aims to issue 150,000 credit cards this year in an effort to diversify its revenue channels, it said on Tuesday.
PRESS RELEASE: Fitch: Credit Cards Not Used To Pay UK Mtges (Nasdaq)
Fitch Ratings-London-01 July 2008: Fitch Ratings said today that it does not see any evidence that credit cards are being widely used by borrowers to fund UK residential mortgage payments. The agency's findings contradict those of a recent report by the charity, Shelter.
Pawn shops booming in the credit crunch (Sunday Herald)
of the economy braces itself for hard times, the pawnbroking sector is booming, after the chief executive of the National Pawnbrokers Association said that 96% of its members had seen increased business in the past six months.
Audit Finds Abuse of Education Dept. Credit Cards (Washington Post)
U.S. Department of Education employees inappropriately used government credit cards to purchase $49,500 worth of goods and services, including meals, items at clothing stores and rental cars, for personal use, according to a review by the department's inspector general.
Credit scores hit by card limits (El Paso Times)
NEW YORKâJust as Americans grow more reliant on credit cards to help pay monthly bills, they're being hit with a one-two punch: Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores.
Business (The West Australian)
The agreement to make the federal government solely responsible for the regulation of all credit providers is a coup for consumers and business, the peak mortgage industry body says.
