Sometimes banks try to pull a fast one on you, like mailing statements nearly late, then charging you for late fees.
Consumer Reports is helping get reasonable consumer protection for us all and I'd appreciate it you took a look at CreditCardReform.org
Here's the deal:
A key House committee just passed two major reforms that will help our wallets. Now we need the entire House to do the same so we can end the banks' financial tricks!
One bill would implement new credit card rules on Dec. 1 in time for the holiday season, rather than waiting until next February. The card companies are taking advantage of the delay to hike interest rates on good customers' card balances, and the longer Congress waits, the more time the banks have to ding our wallets.
The other bill would create a financial watchdog whose only job is to look out for consumers' interests when it comes to credit cards, loans and mortgages. The Consumer Financial Protection Agency would put our interests before the banks, and protect us from abusive financial tricks.
Follow Craig Newmark on Twitter: www.twitter.com/craignewmark
Stuart Whatley: Executive Pay Cuts? Hold the Standing Ovation
Yes, a quick round of applause for Feinberg for cutting our financial wards' CEO pay. But hold off on the standing ovation; the Obama era does not need a "Mission Accomplished" moment.
With the DNA of two Nobel Laureate economists in his genome, one might think Summers would have the best grasp of how to fix the broken financial system. One would be wrong.
