Siegel+Gale put together this PDF which boils down a sample credit card’s terms to one page. While the language is simpler than your average 30-page contract, it’s still not ideal; note that the late fee is still $39, there’s Binding Mandatory Arbitration language, and the bank reserves the right to change the credit limit at
Have you ever waded through pages and pages of credit card contracts in an attempt to figure out what your interest rate will be? Have you overdrawn your account by a few cents, only to get slammed with a disproportionate fee? Would you be upset if you purchased holiday gifts only to find your credit
According to TIME Magazine, the CFPA is the 19th best invention of 2009. Although it’s not yet reality, and it was conceived well before 2009, at AFR we appreciate the point. Read more here – and cast your vote on TIME’s sliding scale about how important the CFPA is. (Photo: TIME)
Americans for Financial Reform and our partners sent this letter (PDF) to Senators Dodd and Shelby this week regarding the need to treat auto dealers the same as other lenders under the CFPA: On behalf of our organizations we commend the Chairman’s introduction of a strong pro-consumer legislation that creates the Consumer Financial Protection Agency
AFR and other groups sent this letter (PDF) to members of the House Financial Services Committee. Dear Chairman Frank, Ranking Member Bachus, and Members of the Committee, As members of Americans for Financial Reform, a coalition of nearly 200 consumer, employee, investor, community and civil rights groups, we write you today to convey our strong
On Tuesday November 17, Damon Silvers of the AFL-CIO debated Ed Yingling of the American Bankers Association about how best to reform our financial system and restore the economy. Visit the Aspen Institute for more information and watch below!