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Archive for May 3rd, 2008

Federal Reserve Proposes New Rules to Limit Arbitrary Powers of Credit Card Issuers »

On May 2, 2008, the Federal Reserve released a series of proposed rules that would restrict current practices of the credit card industry. Specifically:

Banks would be prohibited from increasing the rate on a pre-existing credit card balance (except under limited circumstances) and must allow the consumer to pay off that balance over a reasonable [...]

One in 56 Tennessee Households Filed for Bankruptcy »

One in 56 Tennessee households and one in 60 Georgia households filed for bankruptcy relief in the first quarter of 2008*, according to statistics recently released by the National Bankruptcy Research Center.
The national average was one personal bankruptcy per 119.1 households. Here is a list of the top 10 states for bankruptcy filings per [...]