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Americans for Fairness in Lending

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Credit Card "Insiders" Speak Out About Abusive Practices

Earlier this year, former employees of MBNA and Bank of America contacted AFFIL
looking for a way to speak out about disturbing sales practices they were trained to
use as employees. Their stories confirm what we've long suspected: that credit card
companies extend credit to those who can't afford it, and engage in a "tricks and traps"
business model designed to max out cardholders and keep them on a debt treadmill as
long as possible. Watch the video and listen to what Cate Colombo and Jerry Young have
to say:

Bank of America sings U2's One

So proud of itself for successfully merging with MBNA, Bank of America takes one of the most beautiful U2 songs and changes the lyrics so it's about . . . credit cards. And it's maybe meant to be a joke. But the singer takes himself so seriously, that it's not a joke.

 

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