Major Banks Accused of Interest Rate Profiteering Amid Record Profits
US Senators Warren and Reed accuse seven major banks of profiting from rising interest rates by increasing borrowing costs while keeping savings rates low, despite prior promises to lawmakers; this has resulted in record bank profits and financial hardship for savers.
Major Banks Accused of Interest Rate Profiteering Amid Record Profits
US Senators Warren and Reed accuse seven major banks of profiting from rising interest rates by increasing borrowing costs while keeping savings rates low, despite prior promises to lawmakers; this has resulted in record bank profits and financial hardship for savers.
Progress
56% Bias Score
Credit Counseling: Benefits, Limitations, and Long-Term Implications
Credit counseling helps manage debt through financial education, debt management plans, and creditor negotiation, but doesn't eliminate principal debt or guarantee creditor participation, requiring personal commitment for long-term success.
Credit Counseling: Benefits, Limitations, and Long-Term Implications
Credit counseling helps manage debt through financial education, debt management plans, and creditor negotiation, but doesn't eliminate principal debt or guarantee creditor participation, requiring personal commitment for long-term success.
Progress
36% Bias Score
CFPB Removes Medical Debt from Credit Reports: Impacts and Uncertainties
The Consumer Financial Protection Bureau is removing medical debt from the credit reports of millions of Americans, impacting about 20 percent of the population, aiming to improve credit scores and access to credit but potentially affecting consumer and provider incentives.
CFPB Removes Medical Debt from Credit Reports: Impacts and Uncertainties
The Consumer Financial Protection Bureau is removing medical debt from the credit reports of millions of Americans, impacting about 20 percent of the population, aiming to improve credit scores and access to credit but potentially affecting consumer and provider incentives.
Progress
48% Bias Score
Sanders to Introduce Bill Capping Credit Card Interest Rates at 10%
Senator Bernie Sanders will introduce legislation to cap credit card interest rates at 10%, echoing a campaign promise by President-elect Trump, amidst $1.17 trillion in US credit card debt and average interest rates at 24.43% in December 2024.
Sanders to Introduce Bill Capping Credit Card Interest Rates at 10%
Senator Bernie Sanders will introduce legislation to cap credit card interest rates at 10%, echoing a campaign promise by President-elect Trump, amidst $1.17 trillion in US credit card debt and average interest rates at 24.43% in December 2024.
Progress
48% Bias Score
CFPB Removes $49 Billion in Medical Debt from Credit Reports
The CFPB removed $49 billion in medical debt from the credit reports of 15 million Americans, improving credit scores and access to credit, because medical debt is often inaccurate and doesn't predict loan repayment.
CFPB Removes $49 Billion in Medical Debt from Credit Reports
The CFPB removed $49 billion in medical debt from the credit reports of 15 million Americans, improving credit scores and access to credit, because medical debt is often inaccurate and doesn't predict loan repayment.
Progress
36% Bias Score
Limited Adoption of Interest-Bearing Current Accounts in Europe Despite 2005 Ruling
The 2005 European Court of Justice ruling allowing banks to pay interest on current accounts has seen limited adoption; while some online banks like Trade Republic offer rates up to 3%, the practice remains uncommon, with rates expected to fall as the European Central Bank lowers interest rates.
Limited Adoption of Interest-Bearing Current Accounts in Europe Despite 2005 Ruling
The 2005 European Court of Justice ruling allowing banks to pay interest on current accounts has seen limited adoption; while some online banks like Trade Republic offer rates up to 3%, the practice remains uncommon, with rates expected to fall as the European Central Bank lowers interest rates.
Progress
24% Bias Score
Credit Industry Sues Over Ban on Medical Debt in Credit Reports
Two industry groups are suing the CFPB over a new rule removing \$49 billion in medical debt from the credit reports of 15 million Americans, arguing it violates the Fair Credit Reporting Act and could reduce loan availability.
Credit Industry Sues Over Ban on Medical Debt in Credit Reports
Two industry groups are suing the CFPB over a new rule removing \$49 billion in medical debt from the credit reports of 15 million Americans, arguing it violates the Fair Credit Reporting Act and could reduce loan availability.
Progress
44% Bias Score
US Credit Card Debt Reaches \$1.17 Trillion Amidst Record-High Interest Rates
US credit card debt hit \$1.17 trillion in Q3 2024, up \$30 billion from Q2, averaging \$8,000 per cardholder, driven by record-high interest rates and increasing delinquencies, highlighting the urgent need for effective debt management strategies.
US Credit Card Debt Reaches \$1.17 Trillion Amidst Record-High Interest Rates
US credit card debt hit \$1.17 trillion in Q3 2024, up \$30 billion from Q2, averaging \$8,000 per cardholder, driven by record-high interest rates and increasing delinquencies, highlighting the urgent need for effective debt management strategies.
Progress
40% Bias Score