News tagged with 'Banking'

 The banking the business community are expected to pounce on the new Obama plan to create an agency overseeing financial products such as credit cards and mortgages. More information would have to be disclosed to consumers and interest rates could be capped, hurting the banks' bottom line. No more government is needed say critics.

Credit card companies raise interest rates for reasons unclear to the consumer and assign fees without warning. Changes to reform the credit industry were approved by the Senate Tuesday to help the average family with its $7,300 in credit card debt.