New rules curb credit card rate hikes and require plain terms
After a crackdown aimed at limiting rate increases, Congress and Obama plan to require card issuers to wait 60 days behind on payments before rising rates and to restore lower rates after timely payments. Fees such as balance transfers and foreign transactions are rising as banks seek extra revenue.
MENTIONED IN THIS ARTICLE
New York
Philipp Schnabl
New York University
Stern School of Business
Barack Obama
U.S
Discover Financial Credit Lines
Robert K. Hammer
France weighs first step in anti pirate Internet law
Sarkozy backed measure would cut Internet access for repeated music and film pirates with two month to a year suspensions. Critics warn of privacy violations and constitutional challenges while supporters call it a sea change and expect thousands of warnings and 1000 connections cut daily.
MENTIONED IN THIS ARTICLE
Paris
Nicolas Sarkozy
Carla Bruni
France
Sarkozy
Europe
John Kennedy
International Federation of the Phonographic Industry
Wolfgang Zankl
University of Vienna
European Center For E-Commerce
Constitutional Council
Christine Albanel
United States
At&t
U.S
AIG chairman to depart amid restructuring
AIG said its chairman and CEO roles will be separated after Edward M. Liddy recommended the move. Liddy, 63, who became chairman and CEO in September during the federal bailout, plans to retire from the CEO post when successors are found within three or more years. The bank will split up to three new companies and bring six new independent directors up to speed before the June 30 shareholder meeting.
MENTIONED IN THIS ARTICLE
New York
American International Group Inc
Edward M. Liddy
Liddy
AIG
Allstate Corp
Treasury
Timothy Geithner
U.S
Ameri
Geithner
Treasury Department
Ialance Company
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Morganton
N.C
Baden-Baden
Germany
Cle Sao
Laie
Peter White
Lom Agees N. Ridge RD
Borderines
Wesleyan Village Healthcare Center
Isiloepice
Wesleyan
Lorain County
West Avenue
Elyria
NAAN
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