CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header

State Suing Credit Card Companies and Investigating Mortgage Companies

creditcards State Suing Credit Card Companies and Investigating Mortgage Companies The state is involved with that national lawsuit over allowing merchants to offer alternate payment information or even discounts to people who don’t use high fee credit cards to pay their bills. 

Attorney General’s Spokeswoman Laurie Sathoff says Visa and Master Card may be close to a settlement on the matter but not American Express. “American Express’s rules prohibit merchants from encouraging the use of alternative cards.” They will be taking the issue to court.

Meantime the Attorney General’s office is also asking 27 firms that hold and service mortgage loans to stop foreclosure proceedings while their business practices are investigated. That includes evictions and the sale of recently foreclosed property.

Source: Lone Star Texas News/Robert Wood