credit cards

Fighting Abusive Rates on Loans and Credit Cards*

The parliaments of El Salvador and Guatemala are debating bills aimed at halting abusive loans and high credit card costs. But the initiatives have run up against strong opposition from the financial sector.

Robert Moses, 92, faces foreclosure on his home. He recently participated in an Occupy movement in San Francisco demanding justice for mortgage holders. Credit: Judith Scherr/IPS

U.S.: Consumer Protection Agency Takes on “Financial Tricks and Traps”

In the wake of the epidemic of home foreclosures, banking scandals and resulting massive financial regulation overhaul two years ago known as the Dodd-Frank legislation, the U.S. government created a new federal agency to protect consumers from being taken advantage of by banks and other institutions.