WASHINGTON — In response to congressional pressure to reduce fees and interest rates, Citigroup Inc. plans to stop a controversial credit card practice commonly referred to as universal default, a ...

I hope Gov. George Pataki signs the bill that prohibits "universal default" by bank card issuers - the practice of increasing rates when a cardholder goes delinquent with another business. Signing the ...

Did you know that your credit card can be canceled or your credit card rates hiked because you stumble elsewhere? Bob and Louise Elmore (not their real names) can testify to that. Retired and living ...

Tess Vigeland: We do love our plastic. This week, the Federal Reserve reported that consumer debt rose by $14 billion in June. Uh oh! Well, for today’s summer school session, we’re educating you on ...

Almost half of credit-card issuing banks surveyed by a San Francisco-based consumer group have universal default policies, which can lead to higher rates for cardholders who miss payments unrelated to ...

New federal rules announced Thursday limiting the ability of companies to increase interest rates on credit cards won’t take effect soon enough and don’t do enough to prevent rate jumps, said local ...

UNIVERSAL DEFAULT....Via Roy, the Consumerist has some entertaining liveblogging of Tuesday's Senate showdown between Carl Levin and the credit card industry: 9:34: And we're off. Levin has arranged ...

Universal default. Sounds like something bad that could happento your car or your computer. In fact, it’s something harmful that could cost you lots ofmoney and harm your credit rating. Universal ...

“UNIVERSAL DEFAULT”….I was chatting with a friend on Friday who suggested that Democrats needed to adopt more populist economic policies, things that really helped (and resonated with) the working and ...