N.M. delegation backs credit-card reform
President Barack Obama and all five of New Mexico’s United States congressman are taking the fight over what they call unfair credit-card fees to the credit card companies.
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(sarcasm) Yeah, this should definitely not pass. I mean, we all know now that not regulating our financial system has turned out GREAT results for our economy! Go, free market, go! :-p
Why do you think Dodd is giving banks 9 to 12 months to implement this bill?
Dodd is taking care of his banking buddies. SNL Tim Meadows had best joke about Credit Card Act bill. That is enough time to make a baby with a whore.
Why do you think Dodd did not include interest rate cap in his bill? Make sure banks can still charge sky high interest rates. If Chase is currently charging you 30% interest rate today, it would not be illegal to charge you if this bill becomes the law.
listen to the latest credit card scam…if you were locked into a low interest rate…like for instant 5.99 % till paid off and never missed a payment …and you were sent either close your account or pay 29.99 %…and you closed your account and are paying the min. payment say 2% they just are sending out flyers that they are raising the min. from 2% to 5% if you ….guess what your payment will double there for more money out of your pocket ….so when you are 1 min. late on your newly…