Getting serious credit card consumer protection

Getting serious credit card consumer protection

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14936 Sometimes banks try to pull a fast one on you, like mailing statements nearly late, then charging you for late fees.

Consumer Reports is helping get reasonable consumer protection for us all and I'd appreciate it you took a look at CreditCardReform.org

Here's the deal:

A key House committee just passed two major reforms that will help our wallets. Now we need the entire House to do the same so we can end the banks' financial tricks!

One bill would implement new credit card rules on Dec. 1
in time for the holiday season, rather than waiting until next
February. The card companies are taking advantage of the delay to hike
interest rates on good customers' card balances, and the longer
Congress waits, the more time the banks have to ding our wallets.

The other bill would create a financial watchdog whose only job is to look out for consumers' interests
when it comes to credit cards, loans and mortgages. The Consumer
Financial Protection Agency would put our interests before the banks,
and protect us from abusive financial tricks.

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2 Comments

twodogkd

What about the affiliate scams banks do.
The affiliate says sign this you get say a coffee pot.
No where on the form is your bank account number.
But the affiliate is ALREADY WORKING WITH YOUR BANK and knows your bank account number, etc. WITHOUT YOUR KNOWLEDGE.
But the affiliate and B of A had a deal where the BOTH made money off unsuspecting folks who may to and find their banks emptied. Also they could increase the fees charged as well.
I went to our local B of A bank in Riverside CA and the local B of A official said that the scam was an official program done with the approval of XXXX place back East/South, cannot recall.
But by signing you just agreed, without knowing it to be a member of XVZ, with that membership you just authorized them to automatically withdraw money monthly from your account
NOT SURE IF THIS IS STILL
going on.
The SF political reporter you recommended looked into it, verified that that is what Bank of American was doing, or something to that effect. He did research and found it was worse then I thought.
Prior to that, I went to my Congressman Ken Calvert's office here in Riverside, CA (did not talk to Ken, just staff) and they did not want to take the copies and when they did I never heard back.

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