Weather Alert

POOR DRAINAGE FLOODING POSSIBLE TODAY

While widespread flooding is not expected, multiple rounds of moderate to heavy rain, could result in minor flooding in poor drainage areas. Drivers should watch for standing water, and hydroplaning on area roadways

WEATHER ALERT


Weather Alert Radar

The Bottom Line
 
text size

New Credit Card Fees

Updated: Friday, August 2 2013, 09:17 PM EDT

Credit card holders could soon be paying higher fees, if the newly-formed Consumer Financial Protection Bureau gets its way.
        
Dori Marlin reports, The Bottom Line is that the agency wants to relax a current cap on card fees. That means card holders would pay more, so the banks could make more money.

Card issuers wouldn't be able to charge more than 25% of someone's credit limit in the first year of their account, but under the new proposal there would be no limit on application fees, annual fees, or up-front charges.

The CFPB is accepting public comment on the proposal until June, before it can get approved.

New Credit Card Fees


Advertise with us!

Related Stories

 
Advertise with us!