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| To the Grad: Words of Wisdom from Consumer Advocates Posted by money mom at 06/02/08 01:16 PM Congrats graduates! Money mom would like to share a recent article that ran in the San Francisco Chronicle
which provides some money management wisdom from consumer advocates around the country.
Tell the Fed your credit card horror story. Posted by money mom at 05/12/08 03:50 PM If something unfair has happened to you with your credit card, now is the time to tell the Federal Reserve Board about it. The Federal Reserve Board and two other agencies have issued a proposed rule that would restrict some of the most unfair credit card tricks and traps. If this proposal is adopted, it will stop some of the most outrageous credit card practices, such as bumping up your interest rate because you are a few days late on the credit card. The story of your bad credit card experience can help to make sure that this new rule is finalized in a strong form.
Tell the Fed what has happened to you, and what you think of a new regulation to stop some of the unfair practices that credit card companies now use.
Let’s take advantage of this great opportunity to get some substantial credit card protections for consumers!
Finally some action against the worst credit card practices Posted by money mom at 05/02/08 05:25 PM The federal banking regulators have finally done something about credit cards. They have approved for public discussion a proposed rule that would stop or limit some of the worst credit card practices. There is much more to be done, but also some reason for optimism. The proposed rule, announced on May 1st and made publicly available on May 2nd, finally acknowledges that consumers need real protection, not just disclosure. All the disclosure in the world can’t make it fair to send the bill too close to the due date; to raise the interest rate on money already borrowed: or to charge a fee for a problem caused by the bank’s practice to allow a credit hold or a debit hold.
The proposed rule responds to a sustained outcry from consumers and strong interest in Congress in credit card reform and in reform of bank account practices such as overdraft loans.
Where are your credit card and debit card numbers? Posted by money mom at 03/24/08 12:53 PM Going to the grocery store can hold more dangers than rotten meat or tainted spinach – the Associated Press reports that thieves stole 4.2 million payment card numbers from an East Coast supermarket chain. About 1,800 of those numbers already are being fraudulently used.
Money for nothing Posted by Brent at 11/15/07 05:44 PM A new study exposes subprime credit cards with high start up fees.
The Spooky Truth About Credit Cards Posted by novomi at 10/30/07 03:43 PM Just about the time the sun goes down, the trick or treaters will arrive. But what about the creepy credit card tickster in my mailbox? Say NO to credit card rip-offs. Go to www.creditcardreform.org
Is Your Credit Card Company Sweet on You? Posted by Michelle at 02/13/07 12:19 PM If your credit card company is squeezing the love out of you, it's time to send Congress a message this Valentine's Day that you want better terms in this debt relationship.
credit card fury Posted by Michelle at 01/24/07 11:18 AM For the past few years, we've been calling on Congress to do something about the unfair credit card practices that have left many Americans in a downward debt spiral. Here are 2 recent articles reaffirming that real reform needs to happen now. USA Today has a feature article on seniors and credit card debt, oftentimes brought on by medical bills.
What is the OCC? Posted by Michelle at 12/15/06 03:49 PM You may want to know about them if you've ever had a problem with a credit card or loan held by a national bank. The Office of the Comptroller of the Currency, or OCC is a federal agency that charters, regulates and supervises national banks.
"It's Always Christmas Time (for VISA)" Posted by Michelle at 11/20/06 12:12 PM Did you know that credit card companies can change the terms of your contract at any time? That’s just one of the credit card traps that can trip up consumers and lead to spiraling debt.
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