Banks to tighten lending criteria on loans and reduce credit card limits Photo: PA It comes as more lenders said they had reduced the availability of mortgages rather than increased it during the past three months following a “deterioration” in the cost and access to wholesale funds. It comes despite billions [ Read More → ]

MBNA ignored the cardholder’s request not to take out payment protection insurance Photo: PA A county court judge ruled that Lynne Thorius, 49, was charged thousands of pounds by MBNA for an insurance policy she had never asked for. The ruling could open the floodgates for millions of pounds’ worth of similar claims [ Read More → ]

In a move that could spur other banks to follow suit, American Express Co. said it will permanently eliminate all monthly fees on all of its gift cards starting today. The announcement comes just ahead of the holiday shopping season and before new rules that will require banks and retailers [ Read More → ]

Decline in the consumer credit market continues, but the contraction rate has stabilised, according to new figures published today by the Finance & Leasing Association (FLA). Overall, business written by FLA members, who provide secured and unsecured loans, credit and store cards, and motor finance, fell by 17% in July 2009 [ Read More → ]

Companies responsible for selling more than 40 per cent of single premium payment protection policies with unsecured personal loans have agreed to review their sales and compensate customers who were mis-sold the product. The Financial Service Authority now wants to target other companies which have mis-sold PPI which [ Read More → ]

Who’s the greater villain: the guy at a bar who has one drink too many or the bartender who sold him that drink? If you think there’s enough blame to go around, you’ll agree there are two wrongs and two rights on the controversy surrounding bank overdraft protection fees. It’s wrong for [ Read More → ]

Cashback deals on credit cards can be attractive, letting you earn money off your balance every time you use your card, but Moneyfacts.co.uk is warning that failing to read up on the charges could leave you out of pocket. Barclaycard recently launched the Cashback Mastercard, … Read the original article at Totallymoney

The Government has revealed the details of an action plan to prevent criminals abusing new mobile phone technology, which allows them to be used like debit, credit and pre-pay cards. The plan, which has been agreed by the Government, mobile phone and card payments industries, was announced last week by Home [ Read More → ]

Life with a credit card presumably got a little easier in August. Under new federal regulations, credit card companies have to give more warning before upping your interest rate and more notice before your bill is due. And another round of consumer-friendly changes goes into effect in February. It’s all part [ Read More → ]

INDIANAPOLIS - Some Indiana Medicaid patients can now earn money to spend on health care simply by visiting the doctor or seeking routine preventive care. Managed Health Services on Monday announced a new debit card program that rewards patients for making regular trips to the doctor, taking their babies in for [ Read More → ]