Credit Card Center Advertiser Disclosure†
11-14-2016 06:40 PM
Just getting back into the credit seems like they try to rob you on interest rates
The whole point of credit is to pay it off...to avoid interest...
"Use your Credit wisely, don't let it use you!"~Me
05-02-2017 08:47 PM
My understanding was that the House Financial Services Committee was to have a hearing today on H.R. 10, the Financial CHOICE Act, which would undermine some of the consumer protections of Dodd-Frank.
Does anyone know the outcome of the hearing?
06-09-2017 08:29 AM
According to CNN Money:
"House lawmakers on Thursday advanced the "crown jewel" of the GOP-led regulatory reform effort, effectively gutting the Dodd-Frank financial regulations that were put in place during the Obama administration.
The Republican bill, called the Financial Choice Act, passed the House 233-186 along party lines. The bill seeks to undo significant parts of the 2010 financial reform law.
Crafted by House Financial Services Chairman Jeb Hensarling, the bill passed despite vehement objections by Democrats to preserve the sweeping law aimed at preventing another financial crisis and protecting American consumers."
06-09-2017 08:40 AM - edited 06-09-2017 08:41 AM
HR 10 passed the House yesterday (June 9, 2017) along with the managers amendment that keeps the Durbin amendment in place (reduced swipe fees for debt cards for merchants). While this is a large and complex bill, the two prime purposes are to reduce regulations that hurt small community banks and a restructuring of the CFPB to make it accountable to Congress rather than mildly unaccountable to the Federal Reserve.
Without getting into the politics of the Choice Act, I'll just say its probably DOA in the Senate since the minority party generally opposes the bill for several reasons especially ANY restructuring of the CFPB - however parts of the bill are widely expected to go foreward as independant legislation.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.