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Credit Cards

Transportation Nation

Show Me the Money: Some D.C. Cabbies Waiting Weeks to Collect Credit Card Fares

Wednesday, October 16, 2013

WAMU

Two weeks after the start of universal credit card acceptance in Washington, D.C. cabs, the transition from cash-only to modern technology has been bumpy, with more than 5,600 of the District’s roughly 6,500 cabs having installed systems that accept payments from both credit cards and smartphone apps.

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Transportation Nation

By Oct. 1, Most D.C. Taxicabs Will Take Credit Cards

Wednesday, September 18, 2013

WAMU

As a deadline approaches for D.C. taxi cabs to accept credit cards, the city's top regulator says most drivers will be in compliance. But despite threats of impounded vehicles, up to 2,000 cabs won't be ready.

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Transportation Nation

D.C. Cab Drivers Say They Can't Add Credit Card Readers By City Deadline

Thursday, August 08, 2013

WAMU

As the deadline to apply for a 30-day extension looms, some Washington taxi drivers are petitioning the D.C. Taxicab Commission for more time to install credit card readers in their vehicles.

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Transportation Nation

FTC to D.C. Taxicab Commission: Avoid "Unwarranted Regulatory Restrictions"

Thursday, June 13, 2013

WAMU

Tech companies are complaining. A D.C. Council member is urging restraint. And now the Federal Trade Commission is asking the D.C. Taxicab Commission to be careful when it comes to weighing new regulations for app-based hailing services reshaping Washington's vehicle-for-hire industry.

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The Takeaway

Inside Citi's Hacking Fiasco

Tuesday, June 14, 2011

Earlier this week, we told you that hackers had infiltrated Citibank’s security system and gained the sensitive account information of more than 200,000 of their customers. What we didn’t know then was that Citigroup officials had discovered the security breach three weeks earlier and failed to notify their customers.

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The Takeaway

Playstation Users Alarmed After Network Hacking

Wednesday, April 27, 2011

With recent news that Sony's Playstation network has been hacked, the video gaming system's 77 million users are now worrying that their personal information—including credit card details—may have been stolen.

And the alarm goes right round the world - we hear from concerned gamer Perry Davis in Buffalo, New York and technology journalist and expert, Adrian Mars.

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The Takeaway

Americans Borrowing and Buying Again

Tuesday, February 08, 2011

Americans have started buying again; this past December, they pulled out their credit cards, and charged their holiday gifts. There's currently $800 billion on credit cards. This may be good for the economy, but it is it good for your wallet?

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WNYC News

Congressman Weiner Cautions Holiday Shoppers About Store Credit Cards

Monday, November 15, 2010

WNYC

Congressman Anthony Weiner warns customers to stay away from store credit cards this holiday season.

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The Takeaway

Credit Cards, College Students and Co-Signers

Tuesday, September 14, 2010

Gone are the days of credit card recruiters on campus giving away stuffed animals to any first-year students willing to sign up for easy credit: New regulations on card issuers require any cardholder under 21 years old to have an adult co-signer on the card.

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The Takeaway

What to Look For as New Credit Card Rules Take Effect

Wednesday, August 04, 2010

This month, the latest rules in the federal credit card overhaul come into effect. Credit card issuers, however, are already finding creative loopholes. Go check your mailbox: There's a good chance you have a letter from your credit card company or bank telling you about new rules and "improved" new features on your account. Some of those were actually mandated by Congress; others are workarounds to earn more money on new fees. 

We want to help you find out what new fees and charges consumers have to watch out for now that the credit card overhaul is taking effect. Tell us what your card company is asking you to sign up for. Or how they are pitching their new features. Send us pictures of the letters even. Or, tell us any stories for paying too much or getting overcharged by a credit card company. 

 

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The Takeaway

New Rules for Credit Card Issuers

Monday, February 22, 2010

President Obama signed the CARD Act back in May 2009, but the new regulations on credit card issuers took until today to come into effect. The law was designed to protect consumers from many of the hidden fees, rate changes and small print traps that cost Americans $15 billion each year, but some aspects of the bill changed along the way. Now that it's here, how will it affect your monthly statements?

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The Takeaway

TARP Chief Elizabeth Warren on Consumer Financial Protection

Monday, December 14, 2009

All this week we'll be taking a look at how fine print in the lives of consumers affects our ability to get out of debt. We kick off the series with Elizabeth Warren, chair of the Congressional Oversight Panel of the TARP. Warren discusses her role with TARP, a proposed Consumer Financial Protection Agency and how the American middle class has been slowly buried under more and more fine print.

 

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The Takeaway

Takeouts: Health Care Bill, Credit Cards, World Series Recap

Thursday, October 29, 2009

  • Washington Takeout: Our own Todd Zwillich joins us from Washington to discuss what may have made the cut in House Speaker Nancy Pelosi's health care reform bill, due to be unveiled later this morning.
  • Business Takeout: Louise Story, finance reporter for The New York Times, says a new report by the Pew Charitable Trusts [PDF, 910k] finds that 100% (yes, all) of the credit cards issued by the nation's 12 biggest banks are in violation of the recently passed Credit Card Act. The new law goes into effect in February.
  • Sports Takeout: The Takeaway's sports correspondent, Ibrahim Abdul-Matin, recaps last night's World Series game: The Philadelphia Phillies came to the Bronx and routed the New York Yankees 6-1.

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The Takeaway

Takeouts: Women Directors, NBA preview, Listeners on Credit

Tuesday, October 27, 2009

  • Business Takeout: New York Times business correspondent Louise Story tells us about a new investment fund focusing on companies with women on their boards of directors. 
  • Sports Takeout: Takeaway sports contributor Ibrahim Abdul-Matin recaps Monday Night Football and previews the start of the NBA season. 
  • Listener Takeout: We hear your responses on living without credit cards and our reliance on older relatives during economic hard times.

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The Takeaway

Takeouts: Public Option 2.0, Credit Card Bankruptcy

Tuesday, October 27, 2009

  • Washington Takeout: Takeaway Washington correspondent Todd Zwillich joins us with last night's startling announcement from Sen. Harry Reid (D-Nev.) that a version of the "public option," considered nearly dead for several weeks, will wind up in the Senate version of health care reform.
  • Listener Takeout: We talk to listener Kelly, from Charlotte, N.C., who called us with her story of going bankrupt from credit card debt.

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The Takeaway

Put Down the Plastic: Life Without Credit Cards

Monday, October 26, 2009

Last week, we looked at how some banks were canceling consumer credit cards without warning and how consumers could avoid it by using their cards more. That discussion sparked a debate about whether people can get by without credit cards at all. We speak to two people who are doing just that: Joel Westendorf of Los Angeles; and Andrea Hermitt of Atlanta. Takeaway contributor Beth Kobliner lays out some of the logistical benefits and drawbacks of life without plastic.

"There's a myth that you have to have a credit card to have a credit history, and that's not the case. If you're paying off a car loan regularly, or a student loan regularly, or a mortgage loan regularly, that is also building your credit history."
—Beth Kobliner, on the myth that credit cards are required to establish a credit score

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The Takeaway

Takeouts: Health Care; Hedge Funds; Listeners on Credit Cards

Thursday, October 22, 2009

  • Washington Takeout: The Takeaway's Washington correspondent, Todd Zwillich, reports on health care reform in the House of Representatives as House Speaker Nancy Pelosi looks for the votes she needs for the public option.
  • Business Takeout: WNYC reporter Lisa Chow talks about the latest in the trial of two former Bear Stearns hedge fund managers accused of fraud just ahead of the economy's collapse in 2007.
  • Listener Takeout: Listeners respond to Wednesday's conversation about banks closing credit card accounts without warning.

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The Takeaway

Credit Crisis: When Banks Cancel Cards

Wednesday, October 21, 2009

Consumers are reporting this week that Citibank recently closed some of its Shell-branded Mastercard accounts with only days' notice and no stated reason for the cards being canceled. We ask Adam Levin, chairman and co-founder of Credit.com and former director of the New Jersey Division of Consumer Affairs, how consumers can protect themselves from such practices, and what it says about banks that are closing accounts this way.

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The Takeaway

Consumers Pay Off Debt at Record Rate

Thursday, September 10, 2009

Americans paid off $21.6 billion in credit card debt and other consumer loans in July. That is the biggest decline in consumer debt since 1943, when the Federal Reserve started keeping track. The Takeaway's business contributor, Louise Story, a finance reporter for the New York Times, says the economy will fundamentally change if Americans take on a new attitude about spending money they don’t have.

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The Takeaway

Credit Card Reform Act in Effect Today

Friday, August 21, 2009

The first phase of the "Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009" goes into effect this week. While some major provisions of the law won't kick in until next year, credit card companies have to make some immediate changes, including giving cardholders advance notice about interest rate hikes. Personal finance expert and The Takeaway's finance contributor Beth Kobliner joins us to help explain the new rules.

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