I read these credit card news (below) for today.
Federal Reserve Opens Credit Card Agreement Database to the Public
The Federal Reserve recently launched the latest phase of its consumer education initiative, a comprehensive database of credit card agreements from over 300 prominent lenders.
Consumers can expect to find numerous card agreements listed under each lender, reflecting the number of credit card products on today’s market.
Please keep in mind that credit card offers change frequently.
_http://www.cardratings.com/credit-card-agreement-database.html
Staten Island man accused of credit card fraud
A Staten Island man is accused of trying to purchase almost $3,000 worth of Apple products at a New Jersey mall using a stolen credit card and a fraudulent out-of-state license, according to a published report.
Officers confronted him in the store and eventually arrested Lanorith on charges of attempted credit card fraud and for possession of a false identification.
_http://www.silive.com/news/index.ssf/2010/05/staten_island_man_accused_of_c_2.html
Durbin upbraids credit card giants
Senate Majority Whip Dick Durbin (D-Ill.) on Thursday sent a terse letter to Visa and MasterCard, asking them to stop “threatening” small banks and credit unions by “distorting” his legislation cracking down on swipe fees.
Writing separately to Visa Inc. Chairman and CEO Joseph Saunders and MasterCard Worldwide CEO Robert Selander, Durbin accused the card giants of trying to intimidate small financial firms into opposing the amendment by warning them of changes to fee rates and operating rules. “The simple fact is that small banks would not be harmed or punished under the amendment unless your companies decide to harm or punish them,” Durbin wrote. Durbin requested a reply by June 14.
Fred Becker, president of the National Association of Federal Credit Unions (NAFCU), said credit unions are not threatened by the card network companies.
MasterCard said the Durbin amendment would hurt small banks, credit unions and the broader way the card system operates.
“MasterCard appreciates that Sen. Durbin acknowledges that community banks and credit unions oppose his amendment,” a MasterCard spokesman said in a statement on Thursday.
_http://thehill.com/homenews/senate/100365-durbin-upbraids-card-giants
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