E.g. https://www.nerdwallet.com/credit-cards
There's a whole lot wrong with our banking system that needs to be fixed. The GOP isn't going to fix it though. They want to control the Fed, they want to gut the little regulation that exists, they want to kill the CFPB.
Courier Press:
Yeah, it would have been better to defeat the bill!!1 Bayh was the crucial vote!!11 (Groucho-roll-eyes.gif)
You know the right way to vote. Stop letting the perfect be the enemy of the good.
Vote Candidate in the Primary, Vote the Party in the General.
Come join us! ;-)
Cheers,
Scott.
There's a whole lot wrong with our banking system that needs to be fixed. The GOP isn't going to fix it though. They want to control the Fed, they want to gut the little regulation that exists, they want to kill the CFPB.
Courier Press:
The senator said he received nearly 500 letters and e-mails from Hoosiers about how credit card companies had mistreated them.
One story came from a woman in Granger, Ind. She missed her bill payment by one day and her interest rate increased from zero percent to 29 percent.
One change that will come from the new law is credit card companies will be limited on when rates can be increased and will be required to leave promotional rates the same for at least six months.
Currently, payments cover the least expensive parts of a credit card bill. Under the new law, payments will cover the most expensive parts of the bill, which Bayh said will be for "your benefit, not (the credit card company's) profit."
Other changes include giving cardholders more time to pay a bill and requiring a co-signer for anyone under 21 years old.
"It angered me when I saw how people were being abused," Bayh said. "It's a basic matter of injustice."
The credit card reform bill, also known as House Resolution 627, was introduced to the House of Representatives on Jan. 22 by Rep. Carolyn Maloney, D-N.Y. After passing through committee, the bill passed the House on April 30 by a vote of 357-70.
The bill passed the Senate by a 90-5 vote May 19, and President Barack Obama signed it into law May 22. Every Indiana representative and senator voted for the bill.
Yeah, it would have been better to defeat the bill!!1 Bayh was the crucial vote!!11 (Groucho-roll-eyes.gif)
You know the right way to vote. Stop letting the perfect be the enemy of the good.
Vote Candidate in the Primary, Vote the Party in the General.
Come join us! ;-)
Cheers,
Scott.