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News Stories & Updates In The Credit Card Industry

In our “News Stories” blog section, we provide the latest breaking news, stories and updates for consumers in the credit card industry. We cover topics that include the latest industry research and data, cutting edge-technology developments, crime and fraud investigations as well as the latest regulatory and legislative news effecting credit cards.

At Credit Card Assist, we strive to provide the most up-to-date sources of news and information for consumers on the credit card industry available anywhere.

Robo-Signing Scandal Now Includes Your Credit Card Debt

February 8, 2012
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Have you ever been unfairly sued by Chase Financial Services for your unpaid balance? You might have a stronger case for dismissing the lawsuit than you think. This past Tuesday, American Banker reported that JPMorgan Chase and Co. just happened to quietly, unobtrusively and completely stop issuing new credit card lawsuits. While that doesn’t seem [...]

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Credit Card Cloning Ring Has Bizarre Sex Initiation Ritual

February 7, 2012
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Just when we thought they’d never find a way to make credit cards sexy, a ring of credit card scammers went and proved us horribly, horribly wrong. According to the Athens Banner-Herald, ringleader Vikas Yadav had some very specific requirements for entry into his card cloning scheme. If you’re reading this on your lunch break, [...]

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What’s in Capital One’s Wallet? Half as Much as Last Year

February 3, 2012
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If you’ve been banking with Capital One this year, you may want to reconsider what’s in your wallet. Last week, the finance giant revealed that profits dropped a massive 42% in their quarterly report. Shares in Capital One, which had climbed 23% over the past three months, also fell 5.3% to $46 by the day’s [...]

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Four (More) Congressmen Named in Countrywide Mortgage Scandal

January 25, 2012
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It looks like our Congressmen just love being friends with benefits. This past week, four more politicians were named as participants in the “Friends of Angelo” mortgage scandal: Reps. Elton Gallegly (R-CA), Howard McKeon (R-CA), Edolphus Towns (D-NY) and Pete Sessions (R-TX). They join a long list of representatives, including Banking Committee Chairman Chris Dodd [...]

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11 Most Evil Things the Banking Industry Did in 2011

January 23, 2012
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It seems like every time we flipped on the news in 2011, the banking industry was finding a new way to blur the line between good business and reprehensible tyranny. Hardworking people, including war veterans, were kicked out of their homes illegally. Entire neighborhoods of vacant houses were destroyed. Meticulously orchestrated overdraft schemes ripped off [...]

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Is Suze Orman’s Prepaid Debit Card a Ripoff?

January 23, 2012
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When she announced the debut of her new prepaid debit card this week, personal finance guru Suze Orman told MSNBC, “I decided to create The Approved card after I heard from so many people who were being taken advantage of by the tricks and traps of the banking industry. I want to help people who [...]

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Wanna Sue Your Credit Card Company? Good Luck

January 16, 2012
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Unfortunately, here’s a joke that’s real. As if credit card companies didn’t have too much power already, this past Tuesday the Supreme Court granted them something close to omnipotence over their customers. In an 8-1 decision, the justices decided that consumers who sign credit card agreements with arbitration clauses cannot bring disputes over fees and [...]

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Retaliation Promised by Israel After Credit Card Breach

January 10, 2012

ISRAEL – The information from thousands of credit cards was leaked by a hacker named OxOmar. The Deputy Foreign Minister Danny Ayalon has said that these cyber attacks are “a breach of sovereignty comparable to a terrorist operation, and must be treated as such”.  According to the credit card companies, at least 6,000 cards had [...]

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Reducing Credit Card Debt More Important Than Savings to Consumers

January 10, 2012

Everyone makes New Year’s resolutions in their personal lives, and this is also true for their financial lives. According to a survey by the National Foundation for Credit Counseling, Americans are making reducing debt and improving their credit scores their first priorities. Unfortunately, most consumers put little importance on savings.

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Family Robbed at Gunpoint, Credit Cards Taken

January 10, 2012

ELYRIA, Ohio- Burglars entered a home on the 100 block of Marseilles Avenue in Elyria, Ohio. The two suspects were armed and stole credit cards and cash from the family around 10 PM on Wednesday. At the time of the robbery, the father was upstairs sleeping when the suspects knocked on the door.

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