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Rhode Island Eyes Capping Credit Card Interest Rates

PYMNTS

In the United States, credit card balances and the interest rates charged on those balances are on the rise. In the latest data , more than $870 billion in credit card debt is outstanding in the United States. Whitehouse said, according to WPRI. Rates are “abusive,” said the senator. First of Omaha Service Corp.,

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Using Debit Cards To Bridge The Stimulus Accessibility Gap

PYMNTS

Consumers are also changing how they pay for their purchases, with a recent study finding that debit card spend was up 11.7 Consumers today are especially likely to use their debit cards for their eCommerce purchases or to make in-store purchases with mobile wallets, and card-not-present (CNP) transactions represented 43.1

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Citizens Hits Back at CFPB’s Lawsuit Over Credit Card Dispute Failings

Banking Exchange

The Rhode Island-based bank says legal action from the consumer regulator is “unwarranted” and ignores previous remedial work Consumer Credit Compliance Customers Cards CFPB Compliance/Regulatory Consumer Compliance Community Banking Feature3 Feature.

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CFPB Sues Citizens Bank For Violating Truth In Lending Act

PYMNTS

District Court for the District of Rhode Island. The CFPB said that Citizens Bank neglected to follow the rules for years by failing to properly manage credit card disputes. Citizens Bank reportedly failed to send customers proper notice of billing errors — the required acknowledgment letters or denial alerts.

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CFPB’s unexpected showdown with Citizens

American Banker

The agency's lawsuit against the Rhode Island company — the first involving a bank under Director Kathy Kraninger — has challenged assumptions about its approach to enforcement.

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Three People Sue Apple Over iTunes Privacy Issues

PYMNTS

The plaintiffs, who live in Michigan and Rhode Island, are trying to get class-action status for the lawsuit. In other Apple news , it was recently revealed that Citigroup is in advanced talks with Apple to partner on its new credit card, but decided not to move forward.

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Citizens Bank Partners With Microsoft Xbox All Access

PYMNTS

Consumers want affordable ways to make purchases without taking on additional credit card debt,” said Brendan Coughlin, president of consumer deposits and lending at Citizens Bank. Headquartered in Rhode Island, Citizens Bank is one of the largest and oldest financial institutions in the United States, according to its website.