Overdraft Options
Starting in mid-August financial institutions were unable assess any overdraft fee unless the consumer has not opted in to the financial institution’s overdraft program. At an average of $30 a pop, we’re not really going to miss those fees much, are we?
With billions of dollars of revenue on the line for banks and credit unions (over $38 Billion in 2009 just for banks), it’s no wonder that we here at Debt Reduction Services Inc have seen some pretty fancy and creative marketing materials designed to entice consumers into opting in to the bank’s or credit union’s overdraft program. Continue reading “Overdraft Options” »
Understanding the New Credit Card Rules
Last week brought us changes to the way Credit Card issuing companies can operate in an effort to further protect consumers from abusive or deceptive practices.
The CARD (Credit Card Accountability, Responsibility and Disclosure Act) now prohibits credit card issuing companies from increasing interest rates for one full year from the date the card was first issued. Continue reading “Understanding the New Credit Card Rules” »
Debt Settlement Crackdown – New FTC Restrictions Coming Soon
If you’ve read a few of our recent posts regarding the Debt Settlement industry you know that those services have been under severe scrutiny as of late.
It was announced recently that the FTC will begin imposing new restrictions on the Debt Settlement practice due to widespread abuse against consumers who were struggling during our recent economic downturn. Continue reading “Debt Settlement Crackdown – New FTC Restrictions Coming Soon” »