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
Two Dubuque CUs offer tips on new card law
DUBUQUE, Iowa (6/10/09)--Two Dubuque, Iowa, credit unions are offering tips on how to deal with new credit card legislation signed into law by President Barack Obama. While Dupaco Community CU officials are still examining all the new rules, Matt Dodds, senior vice president for consumer lending, said he’s confident the law won’t result in any significant changes at his credit union (Telegraph Herald June 8). “Certainly not at Dupaco,” he told the newspaper. “But one thing you’re going to see change is more fees, bigger annual fees, [and] taking away benefits like frequent-flier programs.” Consumers need to pay attention to how they use their cards, Dodds added. To deal with the new legislation, Dodds said consumers should:
* Look for a card with a lower interest rate if a balance is carried over from month-to-month; and * Select a card with no annual fee and a longer grace period if expected to pay monthly bills in full and are not concerned about other features such as frequent-flier miles.
Jason Norton, senior vice president of marketing and business development at DuTrac Community CU, told the paper his credit union has received numerous calls from members about the legislation. He recommends that consumers:
* Read the fine print regarding any changes to or disclosures for a credit card account and don't hesitate to contact the credit card issuer or local financial institution with questions; * Question any unexplained finance charges or fees on a statement; and * Shop around for lower rates, and cards with fewer or reduced fees.
Other Resources

RSS





print
News Now LiveWire
.@NACHAOnline report: ACH volume increases to 23B payments in 2014 http://t.co/va2WYMh4Zv
6 minutes ago
.@CUNA's @HampelBill in @washingtonpost on options for wary mortgage borrowers: http://t.co/CPSgTNgwmm
5 hours ago
Housing starts thaw, mortgage rates stand pat #Market #NewsNow http://t.co/hhPj5v5AH3
5 hours ago
.@CUNA files #RBC2 comment, urges #CU system to be heard #NewsNow http://t.co/yfoZHAMlZc
6 hours ago
#NewsNow Youth Month attracts 100,000th member for Mich. CU http://t.co/cgF5o83XlK
6 hours ago