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General

5/13/2009
Tina M. McElhinny
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Obama pushes to put a tighter rein on credit card companies!!!!!

According to an article posted in the USA Today, President Obama is pushing Congress to send him legislation by Memorial Day that would put a tighter rein on the credit card industry.

"Americans know that they have a responsibility to live within their means and pay what they owe," Obama said in his weekly radio and Internet address released Saturday. "But they also have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all-too common."

However, the banking community is fighting back. Credit-card executives maintain that new restrictions could backfire on consumers, making it harder for banks to offer credit or put credit out of reach for many borrowers. They also contend that the sweeping rules already ordered by the Federal Reserve, beginning next year, address many of the consumer-protection concerns expressed by the president and members of Congress.

 

 





Jeff Suher, Pittsburgh Consumer Attorney who specializes in the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. 

Jeff sues abusive debt collectors and helps consumers that have incorrect information on their credit reports.  


1 Comments to "Obama pushes to put a tighter rein on credit card companies!!!!!"

nice content..
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vernon getzler
Posted by Credit card offers on November 6, 2009 at 04:49 AM

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