# Credit cards
Consumer Bureau Taking Action to Reduce Credit Card Penalty Fees
Report indicates consumers pay $12 billion a year in penalties, fees. The Consumer Financial Protection Bureau (CFPB) announced this week that they are taking action designed to reduce the amount and number of penalties and fees consumers pay to credit card companies.
Consumer Bureau Chief Plans Action to Limit Credit Card Fees
Chopra tells Congress his agency will take action to boost competition, reduce fees. In testimony to Congress, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra told lawmakers he's asked his agency to explore ways to limit credit card fees and boost competition in the financial services industry.
Report: Credit Card Companies Charged $12 Billion in Late Fees in 2020
Consumer Financial Protection Bureau report suggests companies profiting from fees instead of service. The Consumer Financial Protection Bureau (CFPB) issued a report showing that card issuers charged $12 billion in late fees in 2020.
Report: Americans Pay Nearly $30 Billion a Year in "Junk Fees"
Banks, Credit Card Companies Earning from Fees rather than Competing on Service. Today, the Consumer Financial Protection Bureau (CFPB) issued a request for information on late and junk fees charged by banks and credit cards. The move is an effort to begin the process of designing protections for consumers in the credit and banking industries.
Report Reveals Americans Pay $120 Billion a Year in Credit Card Interest and Fees
Consumer Bureau Outlines Possible Consumer Protection Actions. The Consumer Financial Protection Bureau (CFPB) has issued a report noting that Americans spend $120 billion per year on credit card interest and fees.
Consumer Group PIRG Slams Credit Bureaus, Calls for Reform
Reform Push Follows Report from Consumer Financial Protection Bureau. Following a report from the Consumer Financial Protection Bureau (CFPB) on the failings of the Big Three credit bureaus when it comes to resolving consumer complaints, the Public Interest Research Group (PIRG) issued a call for reform of the industry.
The best premium credit card on the market
If you've been thinking about getting a new credit card recently, now might be a great time to add a premium credit card to your collection. Sure, you get lots of use out of your everyday cash back cards with no annual fee, but if you spend a little on an annual fee, you get a LOT of return. Of course, $695 isn't necessarily a "little" annual fee - but with over $1400 in annual statement credits alone, The Platinum Card by American Express might just be worth it.
Consumer Advocates Call for Action on Credit Bureau Reform
CFPB Report Highlights Challenges in Credit Reporting Industry. On the heels of a report released by the Consumer Financial Protection Bureau (CFPB), advocates at the National Consumer Law Center (NCLC) are calling for major reform to the credit reporting industry.