The new rule, long expected after an initial proposal was floated early last year, comes after the agency said it reviewed market data related to the 2009 Card Act. Regulations tied to that law granted card issuers the ability to charge ever-increasing amounts of late fees.
The number of data breaches in the United States has increased significantly in the past ten years. According to an IBM study, more than 4 out of 5 companies have experienced a data breach at least once.
Comments from U.S. Rep. Patrick McHenry, chairman of the House Financial Services Committee, highlight how the bureau’s new rule on credit card late fees raises the cost of borrowing for all consumers and is politically motivated.
The US Federal Reserve's progress in bringing down inflation is "not assured," the chair of the country's central bank told lawmakers in Washington Wednesday, on the first of two days of hearings in Congress.
The BUMP IT UP! collection class has transitioned from strictly an onsite classroom into the virtual realm! Now, from the comfort of your own office, and with your own team, collection professionals can finetune their collection skills and performance. The BUMP Call Monitoring Program reinforces the BUMP Call Model and provides a Bump Scorecard tool that collection managers and supervisors can use to evaluate how well each collector is executing their calls.
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