President's Credit Crackdown To Begin

[tomm2thumbs]

Run time: 01:42 https://www.youtube.com/watch?v=rMcP0h4E5XA   Posted on YouTube: April 21, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: April 21, 2009 By DU Member: tomm2thumbs Views on DU: 756

 
President Obama threatened to team up with Congress to protect consumers from hidden credit card company fees and rate hikes. Chip Reid reports. April 21

[ananda]

1. They need to regulate telecom and cable pricing too.

Bigtime.

[vaberella]

3. Send it to the White House website because that's a great proposal.n/t

[vaberella]

2. I hope this gets taken care of...it's out of control. n/t

[tomm2thumbs]

4. will the GOP stand in the way? are they THAT stupid?

Let's watch and find out - it will be tell-tale to see how they handle this.

[TheEuclideanOne]

7. Really?

Call me Miss Cleo, but we know exactly what they will do. It is so obvious that I won't even state it here.

[ejpoeta]

8. did you really need to ask??!! lol.

[snappyturtle]

5. It should be retroactive. Charging fees for payments made through

the internet? That's a new one to me. How about they just set a realistic interest rate across the board. I think the cc companies would still be raking it in and it would cut down on defaults. CC companies need to realize that they did not give us a standard loan when we signed cc agreements. What they sold us was unsecured credit. It's a risky business that credit card holders did not devise.

[pam4water]

6. Yeah, he'll tell them to stop they so no and then he'll make soem more noise and in the end won't

doing thing. More Kabuki theater.

Or he'll put up some PoC bill of right for card holds. That will involve mediation through courts or some rigged review board. The delay in getting mediation will be so long as to be useless.