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Credit Reports & Credit Repairs: In the News

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The Future of Wall Street Regulation Is in Andrew Cuomo's Hands (New Republic)

New York Governor Andrew Cuomo must soon appoint a replacement superintendent for the state Department of Financial Services (DFS), an obscure regulatory position that the current head, Benjamin Lawsky, elevated into a major national player over the past four years. Read More

Conflicting Comments Delay Court's Debt Default Plan (Sign in required) (New York Law Journal)

The courts need additional time to digest more than 300 pages of analysis and criticism of the rules submitted by government officials, bar groups, the consumer finance industry and law firms specializing in debt collection, said office of Court Administration spokesman David Bookstaver. Read More

How Credit-Card Debt Can Help the Poor (The New York Times)

Last October, Jeffrey Shavers, a hotel maintenance worker in Chicago, took out an extremely unusual $300 loan. Read More

The CFPB amends card act rule to make it easier for stay-at-home spouses and partners to get credit cards (Consumer Financial Protection Bureau)

Amendment allows consumers who are 21 or older to rely on accessible income for credit card applications Read More

Empire Justice Center Applauds Consumer Bureau’s New Credit Card Disclosure Policy

Empire Justice Center praised the Consumer Financial Protection Bureau’s (CFPB) announcement yesterday that it will now make its credit card complaint data accessible to the public. Read More

One Couple’s Ordeal With Credit Card and Housing Debt (The New York Times)

Twelve-step programs often talk about the moment of clarity, when an addict starts to understand just how dire the situation has become. For Karawynn Long, 42, and Jak Koke, 47, it arrived in 2005, when they crossed the $40,000 mark on their credit card bills. Read More

Consumer Financial Protection Bureau releases initial report on credit card complaints ()

Today, the Consumer Financial Protection Bureau (CFPB) issued a report on its first three months of collecting credit card complaint data while also asking the public for feedback on a proposed policy for releasing consumer complaint data in the future. Read More

Charging for Debit Cards Is Robbery (The New York Times)

[B]anks’ simplistic statements [about debit card fees] are merely an attempt to rationalize and obfuscate one of the largest illegal transfers of wealth from consumers to banks in American history.... Read More

Lawmakers Urge Crackdown on Business Cards (The Wall Street Journal)

A group of four U.S. Senate Democrats, including New York's Charles Schumer and Florida's Bill Nelson, urged the Federal Reserve today to crack down on the marketing of business credit cards, which don't come with many protections that are standard on basic consumer credit cards. Read More

Banking on Hypocrisy (Politico)

While American families have made clear that they overwhelmingly support the reforms that a new consumer financial protection agency will produce — like clear, understandable terms and conditions for consumer credit products and accountability for the big banks — the lobbyists have made equally clear their plan to kill the agency. Read More