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Lawmakers Target CC companies

Discussion in 'Credit Talk' started by Mist, Nov 5, 2001.

  1. Nov 5, 2001 #1
    Mist

    Mist Well-Known Member

  3. Nov 5, 2001 #2
    keepmine

    keepmine Well-Known Member

    The ultimate irony is this. CC companies have pushed hard for bk reform. I believe in the 1st quarter of 02, both Nextcard {nxcd} and Providian {pvn} will be seeking bk protection themelves.
     
  4. Nov 5, 2001 #3
    Saar

    Saar Banned

    At a time like this, I'm glad I'm not a MBNA card holder. If I were, my money would now help fund the banking industry's lobby in Congress. I'm sure they're now working full time to bribe enough Congressmen to bury that bill.


    Saar
     
  5. Nov 5, 2001 #4
    Hal

    Hal Well-Known Member

  6. Nov 5, 2001 #5
    PsychDoc

    PsychDoc Well-Known Member

    Interesting article. We should keep track of these potential new laws:

    â?¢ Credit Card Predatory Practices Prevention Act of 2001 (HR 1060) -- would put a lid on some of the outrageous fees (late fees; monthly membership fees; initiation fees; etc.) imposed by some card issuers.

    â?¢ Credit Card Consumer Protection Act (HR 2032) -- would eliminate minimum finance charges and enhance disclosure requirements.

    â?¢ College Student Credit Card Protection Act (HR 184) -- would deter issuers from targeting young Americans.

    â?¢ Credit Card Fairness Act (HR 3125) -- would impose a temporary cap on credit card interest rates.

    All four sound good to me! I'm sure MBNA and the rest will fight this tooth and nail.

    Doc
     

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