CREDIT CARD REFORM, Consumers' Union Petition

CREDIT CARD REFORM, Consumers' Union Petition

The Issue

The big banks got billions of our tax dollars to rescue them from their own financial mess. Now, they turn around and hit us with higher interest rates and fees on our credit cards. When are consumers going to stop getting the short end in this bailout?

Chase, Citibank, HSBC, Capitol One and others recently hiked interest rates with the average card rate now about 14%. Meanwhile, the banks are paying as little as 0% for overnight loans. Unbelievable.

Federal agencies passed a rule cracking down on abusive credit card rate hikes, but it won’t go into effect until mid-2010. That gives banks more than a year to try and make up for their bad bets by charging you more.

Tell Congress to pass credit card reform right now -- we can’t wait another year.

From: Consumers Union
Sent: Thursday, February 26, 2009 9:39 AM
Subject: Unbelievable

avatar of the starter
Ani L. SchwartzPetition StarterINDEPENDENT CERTIFIED GENIUS; triple Sagittarius VersatileViolinist; ViolaDoubles; BFA, MFA: California Institute of the Arts Big Mouth but know how to Listen; Have a reputation for "thinking like Schwartz" (as a fellow blogger put it). One of my main "religions" is Daoism, the I Ching is one of my "bibles"; Music, Jungian Psychology, Dreams, Life, Synchronicity are some of my others which are all interwoven with each other. Serendipity Rules!!!! Pay Attention to it and you will SEE.
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This petition had 49 supporters

The Issue

The big banks got billions of our tax dollars to rescue them from their own financial mess. Now, they turn around and hit us with higher interest rates and fees on our credit cards. When are consumers going to stop getting the short end in this bailout?

Chase, Citibank, HSBC, Capitol One and others recently hiked interest rates with the average card rate now about 14%. Meanwhile, the banks are paying as little as 0% for overnight loans. Unbelievable.

Federal agencies passed a rule cracking down on abusive credit card rate hikes, but it won’t go into effect until mid-2010. That gives banks more than a year to try and make up for their bad bets by charging you more.

Tell Congress to pass credit card reform right now -- we can’t wait another year.

From: Consumers Union
Sent: Thursday, February 26, 2009 9:39 AM
Subject: Unbelievable

avatar of the starter
Ani L. SchwartzPetition StarterINDEPENDENT CERTIFIED GENIUS; triple Sagittarius VersatileViolinist; ViolaDoubles; BFA, MFA: California Institute of the Arts Big Mouth but know how to Listen; Have a reputation for "thinking like Schwartz" (as a fellow blogger put it). One of my main "religions" is Daoism, the I Ching is one of my "bibles"; Music, Jungian Psychology, Dreams, Life, Synchronicity are some of my others which are all interwoven with each other. Serendipity Rules!!!! Pay Attention to it and you will SEE.
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Petition created on February 28, 2009