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Texas Judge Moves Lawsuit Challenging CFPB’s $8 Credit Card Late Fee Rule to D.C., Dealing Blow to Credit Card Industry

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FORT WORTH, Texas – In a blow to banks and credit card issuers, a Texas judge has agreed to move a lawsuit challenging the Consumer Financial Protection Bureau’s $8 credit card late fee rule to the District of Columbia. The ruling by Judge Mark T. Pittman is a setback for the U.S. Chamber of Commerce and five other trade groups that sued the CFPB in March to stop the rule from taking effect on May 14. The CFPB accused the trade groups of engaging in “forum shopping” by filing the case in Texas to find … Read more

New Study Exposes Massive Green Card Backlog in the United States, Urges Overhaul of Immigration Process

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Washington, D.C. – A recent white paper has shed light on the significant challenges presented by the green card backlog in the United States, calling for a comprehensive overhaul of the system. The study conducted by the Cato Institute revealed that only 3 percent of applicants are projected to obtain permanent residence by the fiscal year 2024. This alarming statistic highlights the magnitude of the issue, with approximately 34.7 million applications currently backlogged. According to the white paper, the backlog has been caused by the cap on the number and types of immigrants who can … Read more

Breaking: New York Introduces Game-Changing Law for Credit Card Users – Unveiling Greater Transparency in Surcharges

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ALBANY, N.Y. – A new law in New York aims to increase transparency in credit card surcharges, requiring businesses to provide clearer information to consumers. The legislation, signed by Governor Andrew Cuomo, mandates that businesses must clearly disclose the surcharge amount and notify customers in advance of any additional fees associated with using a credit card for payment. The law intends to address concerns of consumers who may be caught off guard by unexpected charges when using their credit cards. Businesses will now be required to inform customers, both in-store and online, of any surcharges … Read more

Apple Resolves iTunes Gift Card Scam Lawsuit, Reaches $1.8 Million Settlement

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San Francisco, California – Apple has reached a settlement in a lawsuit over a scam involving iTunes gift cards, agreeing to pay $1.8 million. The lawsuit alleged that Apple failed to protect its customers from a scam in which criminals would call individuals and convince them to purchase iTunes gift cards to resolve various issues, such as unpaid taxes or overdue bills. The settlement comes after a three-year legal battle, during which the plaintiffs argued that Apple should have implemented stronger security measures to prevent these fraudulent activities. The company denied any wrongdoing but decided … Read more