American Express is paying $112 million in refunds and fines to settle regulators' accusations that it charged unlawful late fees, and deceived customers to pressure them to pay off old debts or buy extra credit card services.
Most college students graduate under a mountain of student loan debt so maybe they shouldn't they shouldn't have to deal with huge credit cards bills too. Bipartisan legislation sponsored by Assemblywoman Celeste Riley to prevent credit card companies from preying on college students has been approved by an Assembly panel.
Americans stepped up their borrowing in May, helped by the largest monthly gain in credit card debt in more than four years. But overall credit card use is still well below where it was just before the Great Recession began.
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