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OCC: another Crooked Washington agency

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posted on Nov, 24 2004 @ 08:59 PM
Do you have and use Credit Cards?
You might find frontline's "The Secret History of the Credit Card" insightful to watch.

The Office of the Comptroller of the Currency [OCC] is supposed to PROTECT the American consumer.
JULIE WILLIAMS, Acting Comptroller, OCC:

We have three goals, . . . and (3) to make sure that [banks] deal fairly and honestly with their customers

In California

Providian, for example, was accepting payments from consumers on their accounts, depositing the checks but not crediting the account for sometimes up to several weeks. What was the net result of that? Invariably, the consumer got a late charge.

PAT WALLACE of the Bay Area Better Business Bureau said the OCC's response was

"It's not a problem at this time for us."

When the San Francisco DA's consumer protection unit started addressing it and drawing local press attention OCC called them.

instead of [offering] cooperation, they issued a challenge.

ELLIOT SPITZER, NY State Atty. General:

The OCC is now trying to squeeze out the state presence, to prevent us from protecting consumers, which I think is ultimately very injurious to consumers.

When anyone tries to introduce consumer credit card protection legislation the lobbyists from the Credit card banks block it.

Washington agencies set up to protect the American people [FCC, FDA, OCC] have been co-opted by corporate America.

If you use credit cards, are a small investor, expecting a fairly regulated market place, or expecting approved drugs to be safe and reliable Washington is NOT your friend, it is in fact your adversary.

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