Forced arbitration ubiquitous in consumer contracts
A report from Public Citizen reveals that mandatory binding arbitration clauses, or “forced arbitration,” are prevalent in consumer contracts. Seventy-five percent of companies in eight industries used forced arbitration, according to the report. Comments: 1

Prepaid cards: New report finds fees, gotchas
A new report finds that upon close examination, prepaid debit cards are laden with numerous types of fees and other gotchas. Comments: 0

FDIC study: Serving the unbanked and underbanked
In the first national survey of banks' efforts to serve unbanked and underbanked individuals and families in their market areas, the FDIC found that improvement may be possible in certain areas. Comments: 0

Reasons you can’t get your credit report fixed
A noted national consumer law organization releases a report documenting the abysmal quality of the credit report dispute system provided for by law to protect consumers from errors in their credit reports. Comments: 1

Could regulations have prevented the economic crisis?
A new report by the Congressional Oversight Committee points to three areas of regulation that could have prevented the current economic crisis. Comments: 0

Old debt gets new rates: Citigroup raises credit card rates
An article by Tim Westrich of the Center for American Progress discusses Citigroup's announcement that it would raise its credit card interest rates on 20 percent of its customers, just weeks after accepting $25 billion from the federal government. Comments: 1

Consumers plan to reduce holiday spending
Consumers have sharply weaker holiday spending plans this year compared to previous years, according to the ninth annual holiday spending survey conducted by the Consumer Federation of America (CFA) and the Credit Union National Association (CUNA). Comments: 0

Merchants get Congressional help on fair interchange fees
The Credit Card Fair Fee Act of 2008 (HR 5546) would allow merchants to negotiate directly with the card associations in an effort to lower interchange rates. Comments: 0

Campus credit card trap report shows abuses
USPIRG has released a report detailing the unfair practices of credit card companies on college campuses entitled "Campus Credit Card Trap." Comments: 0

Credit Cards Prey Upon The Poor
Consumers are being victimized by credit card offers that charge hundreds of dollars in fees and extend minimal credit, says new report by the National Consumer Law Center. Comments: 1