The banks have learned ANOTHER new trick...I always pay my Target National Bank VISA and Capital One VISA before the statement closing date to avoid interest. I am a disabled American living on a low, fixed income and cannot afford to pay interest. Both banks have recently stopped updating my balance and available credit as soon as charges and payments are made. They are deliberately trying to carry over balances to charge interest. My Target VISA has a credit limit of $700, but though I paid off the balance on Dec. 4th, and even have a credit balance of -$31.80 due to returned merchandise, they are only showing available credit of $188. Capital One VISA just started doing the very same thing. They've stopped updating my balance, as customers can't make interim payments or pay more online than the balance indicates, allowing Capital One to carry over a balance by keeping the customer from paying it online.

THIS IS A CRUMMY THING TO DO IN THE FIRST PLACE, MUCH MORE SO AT HOLIDAY TIME, AND ESPECIALLY TO DISABLED AMERICANS LIVING ON FIXED INCOMES WHO CAN'T AFFORD INTEREST.

I filed an online Complaint with OCC (Office of the Comptroller & Currency, who regulate national banks), but have heard nothing yet. These banks should be prosecuted to the full extent of the law.

According to Consumers Union, from whom I today received this e-mail:

----- Original Message -----

From: Consumers Union

To: ctuck622@gmail.com

Sent: Tuesday, December 08, 2009 8:00 AM

Subject: Stopping the banks' tricks - Priceless!

Dear Tucker,

When Congress passed the recent Credit CARD Act, the banks immediately looked for ways around the new protections. They came up with new methods to raise your credit card interest rates before the ink was even dry on the bill, and they likely have more tricks up their sleeve.

It will take someone watching them all the time to keep up with their "priceless" ways to take more of your money.

Call your House member right now and tell them to vote YES for the new Consumer Financial Protection Agency. This new sheriff would put your interests first and stop financial rip-offs by banks, lenders and others before they suck money from your wallet and further tank our economy.

Voting begins this week, and the banks are trying to kill the bill! CLICK HERE to make a toll-free call now!

The reality is no single federal watchdog looks out for us when it comes to our money. That means whenever Congress finally gets around to passing a law to stop a certain abusive tactic – like they did with the credit card bill – the banks have already re-tooled to come up with new tricks.

The proposed consumer watchdog would have only one job – to quickly respond to any unfair lending tactics and crack down on perpetrators. Rather than the current maze of federal regulators who cozy up to the big financial institutions, this watchdog would make our needs a priority, and root out risky mortgage, lending and banking schemes that drove our nation into financial chaos.

Your Representative votes this week – but the giant financial industry is using its deep pockets to get them to vote ‘no.’ They want to keep the lax laws and cozy relationships that let them cook up risky credit schemes and get rich beyond belief while we're drowning in red ink.

We’ve set up a toll-free line here to tell your House member to vote YES for you – and not the banks!

We’ve seen what they’re capable of left unchecked. Please phone your member of Congress right now, and then forward this on to friends and family so they can lend their voice, too.

Sincerely,
Gail Hillebrand
DefendYourDollars.org
A project of Consumers Union
1535 Mission Street
San Francisco, CA  94103-2512

PS: We're gathering our forces – that means you and people like you – in Washington February 9th to train, lobby, and strategize. Register now!

Carol Tucker, MA

Pensacola, FL

Court Reform-NOW

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