John Ulzheimer says an interest rate cap included in the new law would have actually hurt consumers.
Here's some background on Sonia Sotomayor, who President Barack Obama chose to succeed Justice David Souter on the Supreme Court Tuesday, and her view of business issues: right/CNBC/Sections/News_And_Analysis/__Story_Inserts/graphics/__GOVERNMENT/supreme_court_building.jpg120015000righttruehttp://msnbcmedia.msn.comAP ASCOTUS ROBERTSWASHINGTONDCUSA632638944000000000false1DCMC105Pfalsefalsefalsefalse
An examiner appointed by the court to represent investors is recommending the court lift a freeze on nearly four thousand customer accounts from the Stanford Financial Group.
The credit-card overhaul that President Obama will sign into law Friday is expected to trigger a broad restructuring of how credit cards are priced, managed and marketed.
John Ulzheimer outlines some of the major provisions in the fine print of the new credit card legislation winding its way through Washington.
The credit card reform bill, which passed through Congress Wednesday and is expected to be signed into law by President Barack Obama Friday, will serve as a "warning light" to credit card companies that they can no longer take advantage of consumers, Rep. Paul Kanjorski, D—Pa., said.
The head of the Securities and Exchange Commission is objecting to a plan being considered by the Obama administration to create a new financial watchdog to protect consumers.
Congress is moving to limit the penalties on riskier credit card users, and to make up for lost income, the card companies are going after those people with sterling credit, the New York Times reports.
The Supreme Court said Monday that it will rule on the constitutionality of the anti-fraud law that grew out of accounting scandals at Enron and other companies.
President Barack Obama will issue new vehicle emission standards and pair them with a broader goal of reducing pollution, marking the first time limits on greenhouse gases will be linked to federal standards for cars and trucks.
A group of investors who lost millions in the collapse of Stanford Financial Group says it is "shocked" by a request by court-appointed receiver Ralph Janvey for nearly $20 million to cover his expenses.
The chief investment officer for Texas billionaire R. Allen Stanford's companies, Laura Pendergest-Holt, pleads not guilty to two conspiracy counts. She remains free on a $300,000 bond issued after she was arrested in February on an obstruction charge
As the Obama administration completes its examinations of the nation’s largest banks, industry executives are bracing for fights with the government over repayment of bailout money and forced sales of bad mortgages.
Former New York Governor Eliot Spitzer hasn’t learned a thing from his recent ordeals and has destroyed as much value as anybody else in America, Kenneth Langone, former director of the New York Stock Exchange, told CNBC Tuesday.
Former Enron CEO Jeffrey Skilling is appealing his 2006 conviction to the Supreme Court. In a 50-page petition filed Monday afternoon, Skilling's attorneys argue the conviction should be overturned because he did not put his own interest above Enron's as the government claimed, and because the Houston jury that convicted him was prejudiced by "pervasive media coverage."
A former executive of Bear Stearns has sued for a $2 million bonus he says he is owed.
What if Americans could buy cigarettes but were banned from growing tobacco? Buy bread but not allowed to grow wheat? That is the case with industrial hemp, a product in everything from car doors to milk...legally.
President Obama’s top antitrust official this week plans to restore an aggressive enforcement policy against corporations that use their market dominance to elbow out competitors or to keep them from gaining market share.
Attorneys for Texas financier R. Allen Stanford, who is accused by the Securities and Exchange Commission of running a "massive Ponzi scheme," say the agency has "railroaded" their client and now is trying to prevent him from defending himself.
Putting himself on the side of fuming consumers, President Barack Obama is pushing Congress to send him legislation by Memorial Day that would put a tighter rein on the credit card industry.