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President Obama Pledges Strict Credit Card Reform
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by BPB1 | May 9, 2009 at 01:41 pm
73 views | 0 Recommendations | 2 comments
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On today's weekly address to the nation, President Obama pledges effective change as it relates to Credit Card Reform.
For too long Banks and Credit Card companies have operated without proper regulation, thus ruining the financial lives of many citizens forever. Especially College Students.
As our country's Economy struggles to stabilize, focusing on changing the Banking and Housing Industries isn't the only solution. It is also imperative that our government works diligently to enact strict policies for Credit Card Reform.
Without the enforcement of such policies all other efforts to correct what ails our financial system are futile.
He is urging Congress to have a Credit Card Reform bill on his desk by Memorial Day. Let's hope they will be able to lay aside their petty political differences for the good of their hurting constituents.
President Obama: "Americans know that they have a responsibility to live within their means and pay what they owe. But they also have a right to not get ripped off by the sudden rate hikes, unfair penalties, and hidden fees that have become all-too common in our credit card industry."
Sources: Whitehouse.gov, Forbes, Flickr, Youtube
Most RecentMost Recommended Comments (2)
at 04:25 on May 19th, 2009
I’ve been using in the last year the payoneer card, and also wrote about them (including in http://www.emisltd.com/payoneer.html ) I believe it is the next revolution in the fielf of credit cards world wide
at 19:33 on June 27th, 2009
healthcare reform, credit card reform... how about "Government Employment Reform," too?
i've been beaten by them all. i have tens of thousands of dollars of credit card debt because of a Wyeth drug i was put on (effexor) by coercion (threatened by a friend to go to hospital and get drugged like he had been). effexor made me impulsive, suicidal, etc... after i lost my job to sociopathic bosses and HR at a STATE university.