Credit

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

Swift Jury Decision: Jefferson City Man Convicted of Armed Credit Union Robbery in Record Time

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JEFFERSON CITY, Mo. – In a swift verdict, a federal jury convicted Tre Joseph Connor, a 29-year-old resident of Jefferson City, for armed robbery of a credit union. The prosecution alleged that Connor entered the River Region Credit Union on West Truman Boulevard last year, wielding a 9-millimeter pistol, and successfully stole over $117,000. The jury reached its decision within a mere two-and-a-half hours. Connor is now facing a potential sentence of a minimum of seven years in prison, which could extend to a life sentence without the possibility of parole. To gain a deeper … 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