The Fox is watching the chicken house
11.05.09 (11:11 pm) [edit]In June of 09 President Obama signed a bill that was to curb credit card abuse by the lenders. The credit card companies lobby influenced the congress to not make the bill enforceable until March of 2010 due to the administrative burden that the law caused but in the mean time the credit card companies raised the interest rates on credit card regardless of the amount owed or how current the bill is by as much as 30%. Their action became so egregious that the congress voted to make the bill effective the first of december. All but 4 republicans voted against the bill so much for the little guy I guess they don't believe that usury is a problem for the average American.
posted by: surrogate (reply)
post date: 11.06.09 (5:37 am)
Come on. We both know the only time usury is a problem to Republicans - or Dems, for that matter - is when the gouging is being done by the sort of criminals who don't contribute to political campaigns. Contributing criminals always get a pass.
posted by: barnabus1 (reply)
post date: 11.06.09 (12:17 pm)
I only ran up less than 20.00 on my card, I got 109% interest on it!!! too low a purchase I guess!!anyway paid 29.00!! so may have been around a ten dollar purchase!! Back to my Capitol One and 9.9%!! Had a thing to sign to get it fixed quicker!!