Be heard on Credit lending issues
Posting this chance to be heard from Consumer Reports - following the link will send mail to Patty Murray and Maria Cantwell.
Economic rescue for the rest of us
In this economy, we don't need the big financial institutions looking to our credit cards to make up for their losses. But right now, the credit card companies hold all the "cards," and they can hike interest rates on our balances or charge us higher fees for no reason whatsoever. I just sent a message to Congress to do something about it, and I hope you will, too!
The Federal Reserve and other federal agencies recently issued new rules for card companies, but then gave them 18 months before they have to comply. When do we get 18 months notice? When our rates go up, we're lucky if we get 30 days! So for the next 18 months, card companies can increase our rates and fees and continue to squeeze us to make up for their losses on Wall Street.
That's why credit card reform must be included in any economic rescue package that goes to the President. This is the economic rescue for the rest of us that won't cost taxpayers anything! It is time to prohibit credit card companies from arbitrarily hiking interest rates on our card balances, and stop 'bait and switch' clauses that let them change interest rates and fees for any (or no) reason whatsoever.
The more people who send a quick message to their Senators and Representative, the better chance we have at putting Main Street, not just Wall Street, first in the economic rescue debate.
Take action at: http://creditcardreform.org/
Thank you!
Economic rescue for the rest of us
In this economy, we don't need the big financial institutions looking to our credit cards to make up for their losses. But right now, the credit card companies hold all the "cards," and they can hike interest rates on our balances or charge us higher fees for no reason whatsoever. I just sent a message to Congress to do something about it, and I hope you will, too!
The Federal Reserve and other federal agencies recently issued new rules for card companies, but then gave them 18 months before they have to comply. When do we get 18 months notice? When our rates go up, we're lucky if we get 30 days! So for the next 18 months, card companies can increase our rates and fees and continue to squeeze us to make up for their losses on Wall Street.
That's why credit card reform must be included in any economic rescue package that goes to the President. This is the economic rescue for the rest of us that won't cost taxpayers anything! It is time to prohibit credit card companies from arbitrarily hiking interest rates on our card balances, and stop 'bait and switch' clauses that let them change interest rates and fees for any (or no) reason whatsoever.
The more people who send a quick message to their Senators and Representative, the better chance we have at putting Main Street, not just Wall Street, first in the economic rescue debate.
Take action at: http://creditcardreform.org/
Thank you!