A new study by Ohio State University of Ohio consumers suggests that savvy card users are shopping around, finding the cards with the lowest interest rates to minimize their payments.

Paul Nowell reports for the Associated Press on recent changes by two major credit card issuers, MBNA and Bank of America, to tighten payment requirements in response to suggestions by the Office of the Comptroller of the Currency.   » Continue Reading

Wells Fargo Financial has issued a response to charges by Acorn as reported recently in the Los Angeles Times.   » Continue Reading

MSN Money's Terry Savage has some advice for consumers on how to deal with consumer debt.

Americans are now carrying $683 billion in revolving credit card debt. That’s not the amount we charge every month; it’s the outstanding unpaid balances on which people pay interest. And, according to a report by Cambridge Consumer Credit Index, 47% of the people who paid less than the full amount on their credit card bills in a recent month, made only the minimum payment due. In fact, only 13% of Americans with an outstanding balance could afford to pay more than half the balance.

E. Scott Reckard and Susan Anasagasti report in the Los Angeles Times on litigation against Wells Fargo regarding terms of a debt consolidation loan.   » Continue Reading