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Congress pushes for credit card relief

Understanding Your Credit Card Statement

Take a look at your monthly credit card statement, and you'll see that it contains a great deal of important information.

Credit cards gone wild: Shocking rate hikes

As credit card companies move to limit their risks, business owners face unpleasant surprises from their credit card providers.

Fed OKs credit card crackdown

Regulators approve a number of key protections for credit card customers.

Credit Card Accountability Responsibility and Disclosure Act of 2008

This is the original text of the bill as it was written by its sponsor and submitted to the Senate for consideration.

Obama's Full Remarks at Chicago Credit Cards Event

Before we begin, I just wanted to say a word about the flooding devastating so many communities. We were scheduled to be holding this event in Iowa, but we decided to cancel it because we didn't want to divert state resources from going to help with flood relief.

New credit card rules and what they mean for you

Finally the Federal Reserve, the Office of Thrift Supervision and the National Credit Union Administration decided it was time to act to help consumers get a fairer deal with credit card issuers.

Obama Signs Credit Card Bill

New Rules Say Customers Have To Be More Than 60 Days Behind Before Seeing A Rate Increase.

Credit card issuers, many the same banks that are receiving huge government bailout funds, are figuring out ways to gouge consumers daily to make more money to improve their financial situations.

President Obama pledged Thursday to support legislation that protects credit card borrowers from unfair rate increases and cracks down on issuers who engage in deceptive lending practices.

The movement to reform credit card practices is gaining speed as the White House and Congress target punishing fee practices they say are contributing to a growing number of Americans' financial distress.

The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.
 

WASHINGTON — Homeowners whose mortgage debt was partly or entirely forgiven during 2007 may be able to claim special tax relief by filling out newly-revised Form 982 and attaching it to their 2007 federal income tax return, according to the Internal Revenue Service.

In an attempt to ameliorate the effects of the subprime mortgage loan crisis on the American homeowner, Congress enacted and the President signed into effect two key pieces of legislation.

Americans' personal debt reached $2.6 trillion earlier this year, and the men and women of the nation's armed forces have felt their share of financial pain.