We would like to congratulate our clients who are standing up in the current fight for credit card reform. This week we have patched through thousands of calls to the US Senate to promote a bill that will stop banks’ abusive practices. The patches are pushing a bill to end the banks’ abusive tactics which include raising interest rates without due cause, promoting exuberant fees, charging fees for makings Internet payments, marketing credit plans to customers who are under the age of 21, and giving gift cards that have unreasonable expirations and fees. Additionally, these patch-through calls are promoting the bill in order to allow bank and debt payments to first contribute towards high-interest debt, allowing customers to get out of debt more quickly, pay off a credit balance, and it will allow for the reduction of large amounts of unnecessary interest. Banks may claim that these changes will obstruct credit access, but these changes will actually provide fairness to the currently unstable credit card market.
Friday, 01 May 2009 00:00