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I am faxing as many of the House Financial Services Committee Members as I can, tonight!

I am faxing as many of the House Financial Services Committee Members as I can, tonight!  The link is:

The reason is, supposedly Chase CEO Jamie Dimon is to appear this week. I would at least like to hope for the possibility that one of our elected representatives asks about this change in terms issue with Chase.

You may have notice a link to contact the whole committee. This is the text that I used for that:

On April 3, 2008, I testified for a hearing of the U.S. House of Representatives, Committee on Small Business entitled, “The Role of Credit Cards in Small Business Financing.”

Somewhat ironically, I am now a victim, too, of credit card company abuses. I am sending you information in the form of links on a website that I have created in protest against Chase bank for its recent egregious actions against me (via a change in terms notice), and what I have estimated to be several hundred thousand other account holders:

Chase has imposed a brutal monthly minimum payment increase. I am an academic at Western Carolina University, and my payment on an account that had been around $240.00 per month will increase to almost $600.00 per month. Unfortunately, I was employed last year at Middle Tennessee State University, and my home back in Tennessee is languishing in the real estate market. Thus, it is even harder to swallow Chase’s act of coercion (Chase has offered account holders the “option” to give up a previously promised promotional rate, in exchange for a new finance rate – double in my case – and monthly payments that are closer to what they had been).

I have seen news reports indicating that JP Morgan Chase CEO Jamie Dimon is scheduled to testify before the House Committee on Financial Services, and I am asking you to please consider the fact that Mr. Dimon’s bank has imposed changes that are completely contrary to previously delivered testimony regarding “opt outs” and treating customers “fairly” (i.e., changes are unfair and provide no “opt out”).

My site’s “Press” page ( has additional information about my personal battle with Chase. I believe that the letters and other documents tell a story that needs to be brought to the attention of your Committee Members. For example, Chase spokespersons (and other correspondents in letters) keep calling a new $10 monthly charge a service charge; but, the whole truth is as follows:

Chase spokespersons as well as correspondence from Chase (and reports from consumers attempting to negotiate by phone) are insistent on calling a new $10 monthly charge, a “service charge,” but according to the change in terms notice: “The charge is $10 per month ($120 total annually), and it is a finance charge.” Thus, the promotional rate has been violated.

The actions by Chase described in my letter(s) and “issue backgrounder” report (all on the site) will most certainly put me, my family, and thousands of others in harm’s way financially (the notice to account holders stated that changes would take effect as of January 1, 2009). Please see:

If anything that I can do to aid the Committee, please contact me.


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