The LA Times ran this precient article about banks’ vengeful behavior against consumers in advance of credit card rules going into effect in February. Here is an excerpt: Happy new year. Now pay up. That’s the message from our friends in the banking industry, who
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
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
October 20, 2009 Dear Representatives, The biggest banks and credit card companies have used the power they wield in the marketplace to push unfair business practices that are costing our members—retailers and individual consumers—tens of billions of dollars each year. The banking industry has moved