Treasury Secretary Tim Geithner got an earful last week from House Democrats wary of the White House proposal to pay for government rescues of Wall Street firms by taxing healthy competitors only after Washington steps in. The critics want companies to pre-pay instead into a kind of sitting More…
After years of lively debate and partisan wrangling, sweeping new protections for credit card users are law. President Obama on Friday attached his signature to the Credit Card Holders Bill of Rights, which prohibits rate hikes on most existing balances and provides borrowers a wider window to pay their bills. More…
To no one’s surprise, the Senate on Wednesday killed a proposal to cap credit card rates at 15 percent. The count was 33 to 60 on a procedural vote to allow the bill to proceed.
Sen. Bernie Sanders (I-Vt.), who sponsored the amendment, said the proposal would “end usury More…
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