Tag: Credit Card

U.S. Household Debt Rises Sharply

The Center Square

Household debt across the country is sharply on the rise, with U.S. households now collectively on the hook for about $17 trillion in total. The average family holds about $142,680 in debt, according to a new WalletHub report.

All told, the personal finance website concludes that 2022 ended with Americans roughly $320 billion more in total debt than they were at the start of the year. During the fourth quarter alone, consumers added at least $398 million in new debt, the fourth highest build-up for a fourth quarter over the past two decades and more than four times larger than Q4 2021.

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Merchant Banking Organization: Gun, Ammunition Purchases by Credit Card Will be Coded

The Center Square
An unloaded handgun sitting on the center console of a vehicle with the magazine clip next to it

The international organization responsible for creating merchant category codes for credit card purchases has given its approval to establish one for transactions made at gun stores.

The International Organization for Standardization’s Registration and Maintenance Management Group met on Wednesday to discuss a request made by Amalgamated Bank to set up such a code.

An ISO spokesperson told The Center Square that RMMG members could not decide whether to approve the application. That elevated the discussion to the ISO leadership that oversees standards for retail financial services.

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Commentary: Woke Retailers Seek Congressional Smash-and-Grab on Your Credit Card

Admin

Woke retailers like Home Depot, Kroger, and Walmart are asking Congress to pass their own special smash and grab worth billions of dollars by mandating changes to how credit cards are processed.

Joining forces with far-left Democratic Senate Majority Whip Dick Durbin of Illinois, retailers are seeking changes in federal law threatening rewards programs that many consumers use to take some of the sting off of the high cost of everything from food and gas to furniture and travel.

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Commentary: Don’t Let Democrats in Washington Mess with Your Credit Card

Michigan Star Staff

As President Biden and Democrats in Washington debate trillions of dollars in new government spending, Tennesseans would be wise to hang onto their wallets. And now thanks to a new proposal being discussed by Sen. Dick Durbin (D-IL) and other progressives like Sen. Bernie Sanders (I-VT), Tennesseans would be wise to hold onto their credit cards too.

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