It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Targeting Credit Card Fees, Obama to Meet CEOs

page: 1
4
<<   2 >>

log in

join
share:

posted on Apr, 23 2009 @ 10:49 AM
link   

Targeting Credit Card Fees, Obama to Meet CEOs


www.foxnews.com

WASHINGTON -- President Barack Obama, appealing to mainstream consumers, is pushing for more legal protection for the millions of Americans who use credit cards.

Obama was meeting with leaders of the credit-card industry Thursday, and he's already backing tougher legislation.

"The president believes new rules of the road for the credit card industry are needed," Obama senior adviser Valerie Jarrett said ahead of the president's planned session at the White House with executives from the nation's top credit-card companies.

Obama and some congressional leaders are particularly focu
(visit the link for the full news article)




posted on Apr, 23 2009 @ 10:49 AM
link   
I applaud Obama on this one even though I feel he should have acted more quickly. Americans are getting milked in fees by some of the same companies that are receiving government aid. Double dipping seems to be the game of the day.

IMO, all of this should have been addressed when Congress changed the bankruptcy laws. Unfortunately Congress lay in the same bed with the credit card companies and picked the interest of the companies over the taxpayers. Taxpayers deserve better and shouldn't have to put up with companies who take advantage of them just because Congress takes the company's side.

I also hope they include payday lenders and other companies that make small loans to consumers. Many of their practices are 10 times worse than the credit card companies.

www.foxnews.com
(visit the link for the full news article)



posted on Apr, 23 2009 @ 10:52 AM
link   
I like this one too, and Obama gets my support on this move.

Credit card companies can charge outrageous fees anytime they want to, and no one says a word. It is time that the industry was regulated and consumers protected.



posted on Apr, 23 2009 @ 11:04 AM
link   

Originally posted by jam321


I applaud Obama on this one even though I feel he should have acted more quickly.



Congress tried to pass this before, but the senate ignored it, blame them.

Obama is paying special attention to this, which may be force the senate to actually look at it this time.

I love how the CC are trying to threaten the white house saying they won't be able to extend credit to those who need it and will not be able to extend as many credit lines.

Because apparently you can only extend credit lines when you can hike it up to 33%.

scumbags.



posted on Apr, 23 2009 @ 11:15 AM
link   
I heard today that the credit card companies are now raising interest rates on a mass scale, before this gets passed. A friend who works for Discover said that the customers are not too happy. But we know all they're interested in is raping every last cent out of our pockets, and leaving us to die in the streets for all they care. These are the people that have made us believe we need them to survive, and our government works for them. I don't think that's changed, and this is probably all a show for the people. In reality it probably won't get passed, or it will change to benefit the credit card companies, who will also enjoy the windfall from the interest rates they jacked up ahead of it possibly passing. I understand their lobbyists are hard at work in DC....



posted on Apr, 23 2009 @ 11:19 AM
link   
reply to post by 27jd
 


What is even sadder is that if we weren't in such an economic crisis, this issue wouldn't even be on Congresses agenda. :shk:

This could very well just be a tool to help silence the outcry of the American people.



posted on Apr, 23 2009 @ 11:21 AM
link   
reply to post by 27jd
 

What is your source? I highly doubt this is true.

For one, half the people do pay pay all of their cards on time. So why would they discourage them?

Second, if the cc did raise all the rates, people are just gonna stop paying and get nothing.



posted on Apr, 23 2009 @ 11:27 AM
link   
reply to post by jam321
 


It was actually on tehir agenda for next year, they just bumped it up.



posted on Apr, 23 2009 @ 11:31 AM
link   
reply to post by nixie_nox
 


What would happen if people stopped paying? I mean, most credit cards are unsecured debt.....the companies can harass you and mess up your credit rating, but they can't come after you because the debt is unsecured.

I think that is the next big thing we'll see is massive drop offs in credit card payments. People are fed up.



posted on Apr, 23 2009 @ 11:35 AM
link   

Originally posted by jam321
This could very well just be a tool to help silence the outcry of the American people.


That's the feeling I get. Obama is their face guy, he will stand at his podium and pretend to be on our side, with his nice clean teeth and the gravitas with which he speaks. He certainly does a better job than Bush at it though, gotta give him that much, but no more. We've already seen very clearly who's benefit he works for. Within the first hundred days of his presidency he oversaw and permitted big, worthless, failed companies to fill dump trucks with our tax money and drive off so their CEO's can get conitnue to fly in exotic hookers to wax their old balls, and replace their aging (greater than 1 year old) fleets of luxury cars. They must laugh so hard when they all party and brag about how they were able to even rape the pocketbooks of people who didn't have accounts with them.



posted on Apr, 23 2009 @ 11:40 AM
link   

Originally posted by nixie_nox
What is your source? I highly doubt this is true.


Like I said, a friend at Discover. Nothing more official than that. But in one article I was reading, the cc lobbyists are pissed because the bill limits their ability to raise your interest rate, not because you're late paying them, but because you may have been late paying another company for some reason or another. They call it "risk pricing" and it's complete BS. Personally, I don't doubt for a second they will raise the rates before this passes.



posted on Apr, 23 2009 @ 11:51 AM
link   
lets send a letter to the chinese tell them we got screwed by the bankers the fed reserve and usa politicians too!!!we americans would like to help them procecute and punish them all by turning everyone of them to the chineese..the heavy bounty they would pay would be returned as a show we have now ill feelings for the cruel and unusual punishment they will inflick upon the thieves....also the demons have had the best health care on the planet,,so think about it CHina.. these bastards live to see their90's...their ORGANS ARE FRESH



posted on Apr, 23 2009 @ 11:53 AM
link   
The House Financial Services Committee approved a bill with the following themes


Ends Unfair, Arbitrary Interest Rate Increases.
Lets Consumers Set Hard Credit Limits, Stops Excessive “Over-the-Limit” Fees.
Ends Unfair Penalties for Cardholders Who Pay on Time.
Requires Fair Allocation of Consumer Payments.
Protects Cardholders from Due Date Gimmicks.
Prevents Companies from Using Misleading Terms and Damaging Consumers’ Credit Ratings.

Protects Vulnerable Consumers From High-Fee Subprime Credit Cards.
Bars Issuing Credit Cards to Vulnerable Minors
Swift Implementation of Provisions


www.opencongress.org...

You will have to visit source to read the summary on each one.



posted on Apr, 23 2009 @ 11:56 AM
link   
their organs are fresh juicy healthy and ready to be torn from their flesh..the enemy of my enemy is my friend..BFF love american victims...P.S.send ammo though mexico..



posted on Apr, 23 2009 @ 12:05 PM
link   
Wow I'm half and half on this one. I am in total agreement the interest rate should be set up front and should not change. But I am definitely not for people just mass defaulting on their cards. I had high credit card debt once I know how it is - I worked my tail off to pay it down. How did it get high? Some neccessity spending and some excess spending. But it was my fault not the CCC's fault. Let's act like adults and take some responsibility.



posted on Apr, 23 2009 @ 12:06 PM
link   

Originally posted by blkraven7
P.S.send ammo though mexico..


I'm sure they'd be more than willing, but let's not get too cozy with the chinese, cuz after ammo, they would be sending themselves through mexico to take over once the people brought the government down and used up all our ammo...but they can have the old bastards' organs, i'm with you there.



posted on Apr, 23 2009 @ 12:21 PM
link   
reply to post by jjkenobi
 


I agree that people should be more responsible with their debt. However, we both know that credit card companies are famous for targeting people who shouldn't have credit cards in the first place.

Would you loan credit to somebody in the first place knowing that the chances of them paying you back are slim to none?



posted on Apr, 23 2009 @ 12:22 PM
link   
ok freaky stuff going down with phone and computer now so let me clarify my self..the ammo is to secure family..criminals wil have day in court before turnover..chineese do what you want.there is already 3mill. chineese here



posted on Apr, 23 2009 @ 12:26 PM
link   

Originally posted by jam321
Would you loan credit to somebody in the first place knowing that the chances of them paying you back are slim to none?


Exactly. That's a very bad business practice, and if they didn't have our government fighting for them and bailing them out when they take that chance hoping they will get some late fees out of people before selling the bad loans to somebody else, who sells it to somebody else, until eventually your lapdogs in the government just pay the account off with tax money, and wait for their next "campaign contribution" like dog biscuits.



posted on Apr, 23 2009 @ 12:29 PM
link   

Originally posted by blkraven7
ok freaky stuff going down with phone and computer now so let me clarify my self..the ammo is to secure family..criminals wil have day in court before turnover..chineese do what you want.there is already 3mill. chineese here


There may be, but their government doesn't control us, yet. Think your computer is acting funny now? Wait til you can't access any site that isn't approved government propaganda. Don't look to a greater evil to save us from a lesser one. We can take our country back without their help. If we need help we can ask the French again, lol...



new topics

top topics



 
4
<<   2 >>

log in

join