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How the chip shortage is affecting the credit card business
It used to take seven to 10 business days to get a new credit card. Because of an ongoing chip shortage, deliveries can take almost two months, and that could be the case through the end of the year.
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•
3:03
Cuban national catches break on credit card sentencing
A Miami, FL man who was caught at the Canadian border with 73 forged credit cards has been sentenced to just under a year in jail. Deladier Benitez was…
Life and Debt: Why credit card debt is at a historic high
Why is credit card debt so high right now? How sustainable is this for the economy? And what can cardholders do to break this cycle of debt?
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46:32
Debunking 3 common myths about credit card debt
According to a recent Bankrate survey, 46% of respondents said they carry a credit card balance from month to month. NPR's Life Kit debunks some common myths and gives advice about credit card debt.
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3:44
Many Americans have exhausted their savings as credit card debt hits a record high
Credit card debt is at a record high, climbing nearly 19% in the fourth quarter of 2022. Many Americans have exhausted their savings and are now deep in the hole trying to cover the cost of living.
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5:15
Bank Of America Agrees To Refunds And Fines In Credit Card Case
Bank of America will pay nearly $800 million to settle accusations that it misled customers who bought extra credit card products. Regulators say nearly 3 million credit card holders were effected.
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1:27
FBI Op Targets Cyber Criminals Stealing Credit Cards
U.S. law enforcement officials say 24 suspected computer hackers have been arrested in a sting operation. The FBI set up a fake online forum for people interested in trading credit card numbers and other financial information.
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1:47
Inflation forces Americans to rely more on credit cards and loans
Employers added more than 230,000 jobs in December, another sign of continued strength in the labor market.
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3:53
New law legalizes credit card surcharges in New York State
A state law legalizing credit card surcharges went into effect Sunday, allowing business owners to collect a small fee from customers who opt to use a credit card at the register.The new law limits credit card surcharges to the amount businesses are charged by the credit card company. Businesses are required to include the surcharge in the listed price, although they can also list a separate “cash price.” Companies can also choose to charge everyone the “credit card price,” effectively allowing them to collect credit card surcharges from customers who use other payment methods.Credit card surcharges were flat-out prohibited under the prior law, although business owners were permitted to offer discounts to customers who paid in cash.Gov. Kathy Hochul billed the legislation, which she signed in December, as a “transparency” measure that would “clarify” the law surrounding credit card fees.“New Yorkers should never have to deal with hidden credit card costs, and this law will ensure individuals can trust that their purchases will not result in surprise surcharges,” Gov. Hochul said in a statement. “Transparency is crucial in building trust between businesses and communities, and now patrons will be empowered to budget accordingly.”The legislation also lowers penalties for business owners who break the rules. Violations under the previous law were considered criminal misdemeanors punishable by a $500 fine, a year in prison or both. The new law decriminalizes violations, instead imposing a civil penalty of $500 for each illegal charge.The new law doesn’t apply to debit cards.
U.S. Credit Cards Tackle Fraud With Embedded Chips, But No PINs
The nation's biggest banks are leaning toward a new credit card security system that will rely on embedded chips and signatures rather than PINs. But critics say the PIN-and-chip system is superior.
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