Congress opened a door for Banks to stick the American public with the bill until the new laws take effect in July 2010.
If enacted into law as expected, the credit card industry would have nine months to change the way it does business: Lenders would have to post their credit card agreements on the Internet and let customers pay their bills online or by phone without an added fee. They’d also have to give consumers a chance to spare themselves from over-the-limit fees and provide 45 days notice and an explanation before interest rates are increased.
Some of these changes are already on track to take effect in July 2010, under new rules being imposed by the Federal Reserve.
The Banks are doing as much damage to the nation as the last administration and these idiotic elitists we have sitting in Congress.
Banks that were bailed out by AMERICANS are charging customers with credit card debt, new rates, some as high as 32% Car dealers are charging AMERICANS as much as 10% if they have any problems with their credit, while Bernanke and Congress keep interest rates at 1.0%?
THE GAO needs to AUDIT the Federal reserve NOW!
Listen Here as Dennis Kucinich makes clear how we have been taken.
Kucinich: the Federal Reserve is paying banks NOT to make loans to struggling Americans!
http://www.youtube.com/...
Now is the time to cancel out those credit cards, pay off those loans and get out of debt. If not you, the working credit worthy American will get to help pay for all those mistakes the Banks and Fed have made during the Bush administration.
Does the Fed Manipulate the Stock Market? Where's the Gold? Rep. Alan Grayson SLAMS Alvarez
http://www.youtube.com/...
We have met the enemy.... They is us!
Listen to Kucinich, he lays it out haw we have been and are being taken by our own government.
It is time to stop usoing Banks andd start using Credit uniions, Boycott the Bof A's and get the country back from he insurance companioes and Bankers like Bof A' s Lewis...
These people are the tryining to controll commerce.
They are the ones responsible for the downfall of AMERICA.
Discontinue use of Credit cards and esppecially Bof A, Chase., Citi and the like.. Give em hell HarrY!