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Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion

Collection Industry News

OCTOBER 17, 2023

Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. Some cards — retail store cards, in particular — charge more than 30%, said Ted Rossman, industry analyst for CreditCards.com. Federally chartered credit unions have an 18% limit. Josh Hawley, R-Mo., For example, Sen.

Credit Unions 40
Credit Unions Credit Unions Accrued Interest Credit Card Debt 40
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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

JANUARY 17, 2023

In November 2022, Genesis announced that it will prohibit retail investors from withdrawing their cryptocurrency deposits from Gemini Earn accounts due to liquidity risks. Among the changes discussed by Governor Hochul in her State of the State Address is a plan to amend the state’s Consumer Credit Fairness Act to cover medical debt.

Financial services 52
Financial services Student loans Student Loans Education 52
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