Lawmakers Target CC companies

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

  1. Mist

    Mist Well-Known Member

  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.
  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.

  4. Hal

    Hal Well-Known Member

  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.


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