Kmart is introducing a rent-to-own program charging the equivalent of 100-plus percent annual interest, a move into a business that has drawn criticism for hurting low-income consumers.
For years Audi AG has sought to get U.S. regulators to allow its futuristic headlights, which automatically dim for oncoming drivers, to be sold in the U.S.
Less than one percent of consumer credit reports contain errors that lead to a significant change in the score, according to a study commissioned by the three largest credit-reporting companies.
The imminent reshaping of U.S. banking regulation creates a new center of gravity in Washington, a consumer chief with thousands of employees, a $400 million budget and power to impose federal rules on mortgages, credit cards and layaway plans.
Elizabeth Warren , the Harvard University law professor deputized by President Obama to police consumer finance, is recruiting 50 state prosecutors to help. She may even bankroll their work.
Banks and payment networks are pressing state lawmakers to bar retailers from charging customers more to pay with credit cards than with debit cards or cash.
(Corrects Citibank's fee in the fourth paragraph.)
The nation’s largest banks are pumping more money into the battle over the rewriting of the rules of finance as legislation heads to a vote in the Senate as early as this week.
Jeff Rose, a 33-year-old financial planner, is trying to improve his credit score even though it’s 780, which is 69 points above the median score.
"The rent-to-own industry promises consumers the American dream of ownership."
- Ed Mierzwinski on Nov 12, 2013