Four credit card victims were ordered to sign waivers allowing their creditors to release their private financial records to the public before they could testify before the House Financial Services Committee. The consumers had flown in from across the country to share their stories at a hearing on the Credit Card Bill of Rights, but credit card companies insisted—and Republicans and Democrats agreed—that it would only be fair to release documents like credit scores and a list of recent purchases in order to rebut the consumer’s claims. “Fair is fair,” Congressman Spencer Bauchus (R-AL) barked, as he defended the absurd request. Ultimately, the consumers didn’t testify, but one invitee, Steven Autrey, released his prepared statement, which slams creditors for their abusive and predatory business practices.
Credit Card Victims Muzzled, Ordered To Release Financial Histories Before Sharing Their Experiences
Liveblogging The Senate Permanent Subcommittee On Investigations Hearing On Arbitrary Credit Card Rate Increases
Today at 9:30 a.m., Senator Carl Levin (D-MI) will continue his investigation into the unfair and deceptive practices of the credit card industry. Today’s topic: arbitrary rate increases for cardholders in good standing. The hearing picks up where Senator Levin left off in March, when he questioned the use of excessive fees, interest charges, and the abuse of grace periods.
Your savings can earn upwards of 4 more percentage points of interest, if you put it one of these high-yield online savings accounts. Here’s seven to check out.
Great job, Crapitol One! You just lost a(nother) customer! — BEN POPKEN
What’s in your wallet? I said, what’s in your wallet? Oh, forget it. From a reader:
Courtesy of Bart, comes some excellent advice when trying to reach a human to resolve your problem: just threaten to cancel. They’ll be happy to resolve your complaints then!
G. would like to sell his car but can’t, as the Illinois DMV has lost his title among piles of paperwork and has no interest in finding it.