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Americans for Fairness in Lending

Credit Card "Insiders" Speak Out About Abusive Practices

Posted by Americans for Fairness in Lending Sep 24, 2008

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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:

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