The email below was received from CreditCardReform.org (a project of Consumers Union, probably more widely known as the publisher of Consumer Reports). Please visit the site, as it has nifty software with a pre-written (yet customizable) letter that you can send with push-button convenience. The banks have been acting like greedy pigs, and its time to let the President and Congress know that millions upon millions of us have had enough.
Got your stimulus money yet? The banks already have their hands out.
If you’re like millions of other Americans, your credit card company just jacked up your interest rate, or slapped new fees on your card, even though you make your payments on time.
Abusive credit card tactics such as hiking interest rates on your existing card balances were recently stopped by federal regulators, but the new protections don’t go into effect for until July 2010. Our wallets, and our country’s economic future, simply can’t wait that long!
Ask President Obama to make credit card reform an immediate economic recovery priority!
The banks and credit card issuers are standing in the way of our economic recovery. They take billions in taxpayer bailouts, then turn around and slam consumers with higher interest rates, lower credit limits, and exorbitant fees.
Some Chase customers were hit with an interest rate hike or a $120 annual fee and a doubled minimum payment. Capital One hiked rates for millions an average of 5%, and many customers will see an even bigger jump. Citibank, one of the biggest bailout beneficiaries, jacked up rates, too.
We need to stop the interest rate hikes now and require banks give customers the deal they signed up for. Bills in Congress would put the rules in place sooner, but they’re not moving. They might if the President sends a clear message. Tell the President to make this a top priority– it’s an economic rescue that won’t cost taxpayers a cent.
Let’s make sure the President hears from as many Americans as possible. We know he reads his mail, so please take action, and then forward this on to everyone in your address book so we can make sure the President knows that we need credit card reform as part of our economic recovery.
Sincerely,
Pam Banks
CreditCardReform.org
A project of Consumers Union
1101 17th Street NW, Suite 500
Washington, DC 20036
Loading ...
on Mar 28th, 2009 at 8:41 pm
“We know he reads his mail”
How?
I have made over a dozen webmails on the white house page. Not a single response or acknowlegement. I trust he’ll not open the sizable tax check I just sent him either.
on Mar 28th, 2009 at 9:13 pm
Hi Marv,
I look at it this way: Chase has been partially subdued. I do not think any one method (letter to the President, for instance), will result in a “knight in shining armor” coming forward to save us from the abusive practices of credit card companies.
However, the number or organizations that are stepping up to specifically mention Chase is increasing, and now it is time to keep the pressure on. The fact is, our whole government has been spoon-fed by the banking industry, and has accepted both its contributions as well as a philosophy that places its will and wishes above the interests of American citizens. It won’t change unless we keep raising the roof in protest, through any and every way that we can. Take care.
on Mar 29th, 2009 at 6:46 am
I sent my emails to Schumer and some tobacco woman.