- Personal Finance
CROOK ALERT!!--THE CREDIT CARD MAFIOSI
Credit Card Abuses and Proposed Legislation
U.S. Senate and House of Representative hearings in recent months have explored and exposed widespread credit card abuses by major U.S. banks such as CitiGroup, Chase, Bank of America, et al, and legislation to curb them is currently under consideration in Congress. Hubsters should let their Congressmen and Senators that they support this legislation.
Credit card practices under fire include: universal default (If you are late with a payment on another account, your credit card company may raise your interest rate), other retroactive rate increases, excessive late fees, bad check fees, inadequate disclosure, misleading teaser offers, bogus currency exchange fees as well as others.