Keep the Information Flowing
Small contributions go a long way. Your donation to Consumer Action, a 501 (c)(3) nonprofit, nonpartisan organization, can help us cover the cost of research, writing, and translation of our materials. To keep our services free for those who need them. Select an amount to give.
Released: April 06, 2009
The credit card trap
Source: New York Times (Free Registration)
It’s only fair. The federal government is doing everything it can to restore the nation’s banks to health. In return, Congress should require those banks to give their credit card customers a better break. As the credit card business boomed in recent years, too many lenders added tricks and traps that have ensnared and infuriated millions of their customers. Interest rates spike even when a consumer meticulously pays on time. Fees appear out of nowhere; banks can change their complicated rules at any time or for any reason. Responding to thousands of complaints, the Federal Reserve Board issued new rules last December to help curb unfair and deceptive practices. But those protections will not take effect until July of next year. Congress now has an opportunity to move far more swiftly.Read Full Article: The credit card trap
Quick Menu
Support Consumer Action
Join Our Email List
Consumer Help Desk
- Help Desk
- Submit Your Complaints
- Presente su queja
- Frequently Asked Questions
- Links to Consumer Resources
- Consumer Service Guide (CSG)
- Alerts
- Consumer Booknotes