Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
N.J. league CEO on TV Were the good guys
NEW YORK and HIGHTSTOWN, N.J. (2/11/10)--New Jersey Credit Union League President Paul Gentile appeared Tuesday night on New York's "The Nightly News with Chuck Scarborough" to discuss new credit card rules going into effect Feb. 22 as a result of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act. The segment highlighted several new provisions related to disclosures, limits on interest rate increases, charges on new purchases and existing balances, and individuals under age 21, who must show ability to pay or a present a co-signer in order to receive a credit card (The Daily Exchange Feb. 10). Asked if credit unions were raising rates like many banks in advance of the Feb. 22 deadline, Gentile said most credit unions are not and were already complying with much of what the new law seeks to protect consumers from. "We're the good guys in this situation," he said. The segment also highlighted the results of the Consumer Federation of America (CFA)/ Credit Union National Association (CUNA) survey announced Tuesday on consumer awareness of the new credit card protections. The survey found that 61% of consumers are aware there are new credit card protections, but 65% don't know they take effect later this month and don't understand the specific protections Congress approved last year. The show aired on NBC's New York Nonstop.


RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
3 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
8 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
8 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
10 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
10 hours ago