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2 Resources for

universal default

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Why Credit Card Regulation Is Broken
Until recently, regulators routinely looked the other way as credit card issuers ensnared unwitting consumers with huge finance charges and penalties. So how did credit card regulation become so broken? Here's a brief history of the slippery practices of the industry. How...
Tags: Bank, Credit Card, Regulation, MoneyWatch, Sales Channel, Financial Services, Sales, Finance, Credit Cards, Usury, Interest Rate, Consumer Protection, Schumer Box, Federal Reserve, Default, Universal Default, Penalty Rate, Bernanke, Fed, Truth In Lending Act, MoneyWatch Briefing, Marlys Harris
Articles 2009-04-15
Reforming the Credit Card Industry
Consumers should be able to use plastic without getting skewered by unfair bank practices. Although the Federal Reserve passed new regulations to reform the industry, many consumer groups argue the Fed failed to complete the job. Here's a list of additional reforms needed to make credit cards fairer for consumers....
Tags: Bank, Federal Reserve Board, Rate, Credit Card, MoneyWatch, Penalty Rate, Financial Services, Sales Channel, Sales, Federal Reserve, Carolyn Maloney, Carl Levin, Richard Durbin, Usury Rate, Fixed Rate, Default, Universal Default, Consumers Union, Consumer Federation of America, Center for Responsible Lending, National Consumer Law Center, Marlys Harris
Articles 2009-04-15

Additional Resources

Long Island Financial Briefs: December 14, 2007
Senate committee targets universal default ban Credit card companies are under fire for their practice of universal default: raising customers' interest rates because they default on another creditor's bill or because their credit score drops. A subcommittee of the Senate Committee on Homeland Security and Governmental...
Tags: borrower, FINANCE, financial, investor, SALES, Taxes
Research articles 2007-12-14
Would-Be Mechanics Defaulting on Student Loans at Universal Tech Institute
For the first quarter of fiscal 2009, Universal Technical Institute post anemic year-on-year net revenue growth of 0.1 percent to $90.1 million. The increase in net revenues related primarily to average tuition hikes of three percent to five percent, partially offset by an approximate two percent decline in average undergraduate...
Tags: Student, UTI, Operational Accounting, Finance, David Phillips
Blog posts 2009-02-07
Deregulation and the Default Service Obligation: Putty-Putty, Putty-Clay or Humpty-Dumpty?
This paper provides a critical examination of the relationship between deregulation and the USO Universal Service Obligation. The paper examines deregulation including the many paradoxes of deregulation as practiced. It argues that the rent seeking and public choice literature offer some insights in explaining the process and understanding the implications...
Tags: Deregulation, Regulations, Government
White papers 2001-10-22
National Economic Research Group Demos Applauds CitiGroup for Ending 'Universal Default' and 'Any Time for Any Reason' Credit Card Policies
To: NATIONAL EDITORSTo: NATIONAL EDITORS
Tags: Citigroup Inc., credit card
Research articles 2007-03-01
Citi Announces Industry Leading Changes to its Credit Card Practices
To End "Universal Default" and "Any Time For Any Reason" Changes
Tags: Citigroup Inc.
Research articles 2007-03-01
Congress Has Its Eye On New Credit Card Reforms
A senior member of the House Financial Services Committee is proposing an array of credit card reforms that would ban certain practices and add new disclosures on billing, balances and payments. The proposal is being circulated by Rep. Carolyn Maloney (D-NY), chairman of the Financial Services’ Subcommittee on Financial...
Tags: billing, SALES, U.S. Congress
Research articles 2008-01-14
Congress Eyes Card Reforms
Efforts to ban a variety of credit card practices, most of which target low-income cardholders, moved forward in Congress last week, but are not expected to be passed this year–leaving the issue for the next Congress to decide. A bill endorsed by the House Financial Services Committee would ban...
Tags: Federal Reserve Board, SALES, U.S. Congress
Research articles 2008-08-04
House Beats a Dead Horse, Passes Credit Card Reforms
The House voted to ban a variety of credit card practices, most of them targeted at low-income cardholders, but the credit union-opposed bill is sure to die from inaction in the Senate. The bill would ban so-called double cycle billing; universal default, payment allocations and retroactive rate increases,...
Tags: billing, cardholder, SALES, U.S. Senate
Research articles 2008-09-29
Who's Complying With New Credit Card Rules Now? Check BillShrink
Starting July 1, 2010, banks and other issuers of credit cards will have their wings clipped a bit by new Federal Reserve rules designed to protect consumers from predatory practices, such as not giving customers bills in a timely way so late fees can be added on. But...
Tags: Peter Galuszka
Blog posts 2008-12-27
Informa Research Services Advises: Don't Be Fooled by Low-interest Rate Credit Cards
Watch Out for Those Hidden Fees Which Can Escalate Your Monthly Payments CALABASAS, Calif. -- Recently, the Senate Banking Committee began its inquiry into the way credit card companies conduct their lending practices with cardholders. Under scrutiny are how annual fees, universal default pricing, credit card expiration dates, billing...
Tags: Informa SA
Research articles 2007-03-30
Fed Chairman Comes to Banks' Defense on New Credit-Card Rules
A major power play is underway in Congress that will determine how soon you will get relief from abusive credit-card practices. The roundabout tussle pits U.S. Rep. Barney Frank, Democratic chairman of the House Financial Services Committee, against Ben Bernanke, chairman of the Federal Reserve Bank. Bernanke...
Tags: Bank, Federal Reserve Board, Chairman, Ben Bernanke, Barney Frank, Financial Services, Finance, Chris Pummer
Blog posts 2009-10-21
Google Tackles Its "UI Jazz" Problem, Tests Streamlining Search Options Feature
Sometime later today, a small number of Google users will see a new look to Google's Search Options feature. If all goes well, the cleaner display may be launched across Google after the New Year. And it's all because Google's vice president of search product and user experience Marissa Mayer...
Tags: Google Inc., Marissa Mayer
News items 2009-11-19
American Home Mortgage Plunges 87 Pct
American Home Mortgage Plunges 87 PctAn investor who reads annual reports: The builders are the biggest lendersFor those who really do not have the time to read building company annual reports, here is a bullet list of tidbits that all will find interesting, particularly in light of today's mortgage environment:1. Joint...
Tags: American Home Mortgage, financial, financial services subsidiary, home builder, Lum, mortgage
Discussion threads 2007-08-07
REVIEW: BlackBerry Bold 9700 Is a Typically Excellent E-Mail, Contact and Calendaring Device
RIM's BlackBerry Bold 9700 combines the solid horsepower and good quality that characterized the original Bold 9000 with a form factor similar to other recent BlackBerry releases. The Bold 9700--versions of which are available from T-Mobile and AT&T--works in concert with the latest enterprise back-end software to add more features...
Tags: RIM BlackBerry, Research In Motion Ltd.
News items 2009-11-10
Minero Mexico unable to pay debt.
MEXICO CITY, May 7, 2003 (El Universal/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Grupo Minero Mexico has failed to repay about US$26 million from two loans granted last year by Bank of America, becoming the 17th company to default MEXICO CITY, May 7,...
Tags: S&P
Research articles 2003-05-07
Fitch Affirms UHS Inc. at 'BBB+'; Stable Outlook
NEW YORK -- Fitch Ratings has affirmed Universal Health Services, Inc.'s ratings as follows: -- Issuer default rating IDR 'BBB+'; -- Senior unsecured debt 'BBB+'; -- Unsecured bank facility rating 'BBB+'. The Rating Outlook is Stable. Universal Health Services' UHS ratings reflect the company's diversity,...
Tags: Fitch Ratings, UHS Inc.
Research articles 2005-12-22
Pennsylvania Firm to Reopen Dunkirk, N.Y., Steel Plant.
By Matt Glynn, The Buffalo News, N.Y. Knight Ridder/Tribune Business News Feb. 18--A Pennsylvania company plans to revive a Dunkirk specialty steel plant that closed last June. Universal Stainless and Alloy Products in Bridgeville, Pa., acquired the assets of Empire Specialty...
Tags: Universal Stainless Inc.
Research articles 2002-02-18
Bing Search Will Plaster Twitter Tweets All Over the Web
Warning: Your next Twitter exchange or Facebook update could instantly appear in a subject-related search on Microsoft's Bing and become a permanent part of the Web's boundless data base. While there are plenty of creative ways marketers will capitalize on widespread social networking search to sell their...
Tags: Google Inc., Web, Facebook, Network, Twitter Inc., Social Networking, Online Communications, Marketing, Advertising & Promotion, Diane Mermigas
Blog posts 2009-10-22
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