The Daily Dollar

Defend Your Dollars is the website of the Consumers Union Financial Services Campaign, where we support reforms to the financial marketplace to curb bad practices by banks and lenders.

Credit Card Terms and Conditions Now Posted Online
Posted by Lauren at 05/25/10 10:05 AM

The Fed released a new website that posts credit card agreements so consumers can review. Read more »

Senate passes financial reform - but it's not over yet!
Posted by Susan Herold, senior writer at 05/25/10 08:46 AM

Your countless phone calls and emails to the Senate just helped pass the toughest financial reform bill since the Great Depression. But we aren’t done yet! The House and Senate now must merge their respective bills in conference committee, and agree on a final measure that still must be voted on by both chambers. And the lobbyists are looking for loopholes. Read more »

Gaming and Mobile Payments
Posted by Tim at 05/24/10 10:09 AM

By Simone Backer More and more consumers each year are paying for virtual currency and other online goods with their cell phones. These mobile payments are quicker and simpler than credit card payments, but lack the regulations and infrastructure necessary for totally secure transactions. Read more »

Senate Passes Financial Reform Bill
Posted by Tim at 05/21/10 09:37 AM

In the final vote the Senate passed the Restoring American Financial Stability Act of 2010 (RAFSA) 59-39 Read more »

Senate Votes to Limit Debate on Financial Reform Bill
Posted by Tim at 05/20/10 02:20 PM

Bringing the Financial Reform Bill one step closer to the presidents desk two Democrats vote against cloture while three Republicans vote for. Read more »

You're gonna save $5 billion in credit card and overdraft fees this year!
Posted by Lauren at 05/18/10 03:11 PM

The new laws that went into effect this year to regulate credit cards and overdraft programs, will save consumers $5 billion in fees according to a USA Today analysis. Read more »

Call to Action for Social Security, SSI, and Veterans benefits recipients
Posted by Michelle at 05/18/10 11:49 AM

If you receive Social Security, Supplemental Security Income (SSI) or Veterans benefits, you know this money is essential to you. It helps you pay for food, housing, and other basic living expenses. Read more »

Senate Moving Forward: Passes Good (Not Great) Amendment
Posted by Tim at 05/18/10 11:09 AM

The Senate approved Sen Mark Udall's (D-CO) amendment on access to free credit scores but with a catch. Read more »

Paper statement fees?! What to do about this latest trick
Posted by Michelle at 05/14/10 12:00 PM

We’ve heard from a number of consumers on our previous blog, Paper statement fees?! Credit card issuers’ latest trick about their frustrations with receiving their bills in the mail and surprise(!) are charged a fee for it. Read more »

Consumers pay steep rates for small loans
Posted by Michael McCauley at 05/14/10 10:35 AM

Need more proof that we need a strong independent financial watchdog for consumers? We just put out a report with the National Consumer Law Center and the Consumer Federation of America that shows consumers in most parts of the country are vulnerable to small loan rip-offs. Read more »

Tell Senate: Do Not Give Exemptions To Auto Loans
Posted by Tim at 05/12/10 03:46 PM

By Arone Silverman President Obama called on the Senate to not exempt car dealers from a proposed Bureau of Consumer Financial Protection, sending a strong message that he wants Democrats to stand firm against lobbying by the politically powerful group. Read more »

Financial Reform Bill Update
Posted by Tim at 05/11/10 01:53 PM

STATES MUST BE ALLOWED TO PROTECT CONSUMERS FROM HARMFUL FINANCIAL PRACTICES Read more »

Teens, Watch Out for Prepaid Cards!
Posted by Tim at 05/07/10 03:32 PM

By Simone Backer Prepaid card companies advertise that their products are simple to use and perfect for young adults who don’t need the hassle of a debit or credit card. But be careful – most are riddled with hidden fees and exaggerated perks! Read more »

Senate debate on financial reform heats up
Posted by Michael McCauley at 05/05/10 11:50 AM

Now that the Senate floor debate on financial reform has started in earnest, supporters are ofering a number of amendments to strengthen the bill so that it better protects consumers from unsafe financial products and creates new rules to stop banks from getting so big that they could threaten the financial system. Read more »