Turning Credit Cards into Comprehensive Financial Surveillance
New laws on interchange fees will transform credit card payments into detailed government-accessible records of every item purchased, including firearms
Credit Card
There's Nothing Novel About the DoorDash-Klarna Collaboration
Consumers have long paid for daily goods with loans.
Consumer Financial Protection Bureau
How the CFPB's Medical Debt Rule Could Backfire
Scrubbing credit reports won’t erase debt—it will just make borrowing harder for low-income Americans.
The 5 Worst Things About the Consumer Financial Protection Bureau
The agency—an unelected regulator with a blank check—has spent much of its short life making things harder for the consumers it set out to protect.
Hawley/Sanders Credit Card Interest Cap Is a Gift to Payday Lenders and Loan Sharks
A bill that purports to lower borrowing costs will instead drive many people to more expensive lenders.
The Hidden Costs of Capping Credit Card Interest Rates
A rate cap could leave millions scrambling for alternatives in an increasingly cashless economy.
Congress Could Overturn a New Rule Limiting Credit Card Late Fees. Good.
Sen. Tim Scott introduced a bill Monday to block the Consumer Financial Protection Bureau's action by invoking the Congressional Review Act.
Congress Could Swipe Your Credit Card Reward Points
Sens. Dick Durbin and J.D. Vance want to put the Federal Reserve in charge of credit card reward programs.
Most Americans Aren't Buying Biden's Misleading Narrative That the Economy Is Getting Better
The question of how best to measure inflation has no single and straightforward answer, but most people know that the president's economic claims aren't true.
Government Is Snooping on Your Phone
Many apps collect data that is then accessed by outside entities. Should you care?
Bureaucrats Are Moving To Cap Bank Overdraft Fees, Which Will Hurt the People It's Meant To Help
Many who see overdraft protection as preferable to other short-term credit options will have fewer choices as some banks decide the service isn't worth offering anymore.
Americans Learned a Lesson About Interest Rates. Washington Has Not.
Higher rates lead to more debt, and more debt begets higher rates, and on and on. Get the picture?
Progressives and Populist Republicans Are Coming for Your Credit Card Rewards
New legislation would intervene in the credit card market to help businesses like Target and Walmart, who don't like the fees they have to pay to accept credit card payments.
The Government Wants To Cap Credit Card Late Fees. It Will Hurt the Poor.
Delayed payments will increase, and companies will respond by raising interest rates—or denying low-income applicants outright.
Credit Cards 'Pause' Efforts To Track Gun Purchases After Pushback
It’s a win for self-defense rights in ongoing campaigns to conscript businesses for political causes.
Banks Increasingly Back Political Scheme To Track Gun Purchases by Credit Card
Politicians lean on the financial industry to target activities they don’t like.
To Win the Speakership, Kevin McCarthy Had To Promise To Cut Spending. Good.
While some Republicans may have had misguided motivations, a few disrupted McCarthy's campaign in order to enact fiscal restraint. Their colleagues were fine with business as usual.
Visa and Mastercard Submit to Politicians Trying To Put the Squeeze on Pornhub
Neither company will accept charges for Pornhub purchases going forward.
Cash Remains Healthy as the Pandemic Rages
People like the convenience of digital transactions, but they rely on the anonymity and reliability of physical money.
Should Banks Be in the Gun Control Business?
There is no easy way to determine whether someone is spending a lot on guns because they like guns or because they plan to commit an act of terror.
How Your Digital Purchases Could Serve the Perfect Surveillance Network
You may be surprised how many different companies know whenever you use your credit card.
Bernie Sanders' New Plan Will Make It Tougher for Poor People To Get Credit Cards
Sanders and Rep. Alexandria Ocasio-Cortez want to cap credit card interest rates. There will be unintended consequences.
SCOTUS Won't Hear Illinois Sheriff's Appeal of Order to Stop Threatening Credit Card Companies for Working With Backpage
Visa and Mastercard had ceased serving the site under threat of sanction from the Illinois sheriff.
Oklahoma Police Can Pull You Over and Digitally Seize Money Right Off the Pre-Paid Cards in Your Wallet
Another tool used to fight international trafficking comes home to local police.
Backpage.com Wins First Amendment Victory Against Censorious Sheriff
A federal appeals court tells Tom Dart to stop threatening payment processors that do business with the classified-ad site.
Backpage.com Sues Over Illinois Sheriff's Unconstitutional Bullying
With no legal authority to do so, Sheriff Tom Dart threatened to go after Visa and MasterCard if they did not cease doing business with Backpage.com.
Backpage.com Says Screw Off to Squeamish Credit Card Companies by Dropping Fees For Adult Ads
Score one for sex workers, capitalism, and common sense.
How a Crusading Chicago Sheriff Convinced Visa and Mastercard to Screw Sex Workers
Bitcoin is now the only means of paying for adult ads on the popular web classifieds site Backpage.com.
Data Breach Reported at Marriott Hotels
Hacking may have targeted thousands of travelers
Banks Could Sue Target Over Credit Card Breach
To help pay for the costs incurred cleaning up after the hacking mess
Up to 40 Million Credit Cards Used at Target Could be Compromised
Going back to Black Friday; Secret Service investigating
Judge Blocks Federal Reserve's Rules on Debit Card Fees
Says the Fed ignored congressional intent
