Posts Tagged ‘credit cards’

It’s not just Barack: Consumer debt an issue for some of state’s congressional delegation, too | MinnPost

Press release from Americans for Fairness in Lending. Full release after the jump (it is not yet up on AFFIL’s website, so I cannot link to it).

Last year, Citi promised its credit card customers that “A Deal is a Deal” - that they would be getting rid of “any time for any reason” interest rate hikes. But now that they’re facing financial problems, Citi is reconsidering this pledge. Ed Mierzwinski made the SNL connection in his blog at US PIRG, noting [...]

Alright, maybe Elizabeth Warren isn’t a superstar to everyone. But she is the unequivocal rock star of the consumer movement. So it is totally appropriate that she’s now palling around with the most rockin’ politician since JFK. She appeared with Senator Obama Wednesday in Chicago to discuss credit cards, and I can only imagine the [...]

More on how arbitration screws consumers from Elizabeth Warren. Have You Already Lost? | TPMCafé

The Federal Reserve Board and two other regulators recently surprised consumer advocates by proposing some decent rules that would reform credit card lending. Six AFFIL Partners issued a joint statement calling the proposal as “an important first step to stop credit card companies from pumping up their profits by using hidden traps and tricks [...]

Maybe the tide is starting to change. ABC News’ Good Morning America show’s piece on what a scam mandatory arbitration is for credit cards is great.
Among its highlights are a women who was harassed and sued for some one else’s debt, and a judge who was black balled for deciding in the consumer’s favor once. [...]

ABC News did a great piece on debt collection, arbitration, and especially the National Arbitration Forum, where consumers in California lose 99% of the time. A former NAF arbitrator says on camera that she was forced to quit for ruling in favor of a consumer one time. Stick around for the great commentary at the [...]

That the major credit card issuing banks are conspiring against consumers to force them into mandatory arbitration should come as no surprise to anybody. Why wouldn’t they force people into a system so stacked in favor of the credit card companies that the companies win all but 0.16% of the time. (For the math [...]

Want to pay your wireless bill in an AT&T store? That’ll be $2 extra for the “privilege” of handing it to a clerk. Want to pay your credit card bill over the phone? That will be $15.
The disparate impact of policies designed to discourage consumers from paying in cash–like the AT&T’s in-store charge–falls squarely on [...]