Study finds new laws haven’t prevented marketing cards to college kids

Though Congress passed a law several years ago that prevented credit card lenders from marketing their products to young adults, a new study found the practice is still ongoing. The Credit Card Accountability, Responsibility and Disclosure Act has largely been skirted by credit card lenders since it took full effect in February 2010, at least […]

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Credit card transactions increased considerably last year

As the economy continues to improve and consumers are feeling better about their own personal finances, the number of credit card transactions handled by the world's largest payment processers increased, as did the number of new accounts issued. The number of credit, debit and prepaid cards in circulation worldwide climbed to a total of 6.54 […]

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Report: Default rates for consumer credit fall in March

The end of the first quarter marked a period of improving consumer finances, as default rates on several types of consumer loans decreased from the month before, a report details. According to the S&P/Experian Consumer Credit Default Indices, the default rates for first and second mortgages and auto loans declined notably in March from February, […]

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Women struggle more often with credit card debt

Though studies have shown that many consumers across the country continue to struggle with credit card debt even as the economy slowly improves, new data suggests that in many cases, women tend to have a tougher time with their outstanding balances than men. Women were both more likely to demonstrate "negative" credit card behaviors and […]

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CFPB to tackle discriminatory lending practices

The new federal agency tasked with protecting consumers from predatory and misleading lending practices on the part of financial institutions is now working to ensure that potential borrowers have greater protections from discriminatory lending as well. The federal Consumer Financial Protection Bureau is now making greater attempts to make sure consumers have access to credit […]

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Most college students have, mismanage credit cards

In recent years, there have been greater efforts made to prevent young adults under the age of 21 from obtaining credit cards in their own name, but now it appears that many still do, and mismanage their accounts when they get them. Currently, 70 percent of all undergraduate college students have a credit card in […]

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More borrowers staying current on credit cards despite uptick in defaults

Consumers have, in general, been very good about making sure all their credit card debt is paid on time in the last few years, but while that trend largely continued for the nation's top lenders, some also saw severely late payments tick upward in March. Delinquent and defaulted payments fell overall once again in March, […]

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More lenders pushing prepaid cards for college students

Recent financial regulations at the federal level have made it extremely difficult for credit card issuers to market to college students, and now many are finding new ways to forge financial relationships with young adults. These days, a large and growing number of major credit card lenders are now marketing on college campuses once again, […]

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More credit card lenders turning to social media

As consumers begin to live more and more of their lives online, many of the nation's top credit card lenders are, as a result, making sure to market their products properly through social networks. Lenders such as American Express, JPMorgan Chase, Discover and Capital One have all worked to build their presence on social networks […]

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More companies vying for mobile purchasing domination

As there is currently a major push under way to promote widespread adoption among consumers in the mobile wallet industry, there are still many questions that remain largely unanswered. A wide variety of companies developing their own digital wallet platforms these days are in various stages of rolling them out, and that has many experts […]

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