Online Database for Credit Card Customers’ Complaints
The Consumer Financial Protection Bureau (CFPB) has been collecting people’s complaints about credit card companies, and the bureau is planning to set up a website where the public can view these complaints. An informed consumer is less likely to be gouged and shat on.
Haven’t we had enough yet? Gazillions of dollars in hidden fees, interest rates that double or triple without notice and for “reasons” that are flimsy to non-existent — most of these sleight-of-hand ripoffs would be eliminated through the transparency of an online complaint database.
Cockroaches scurry back into the nearest crack when somebody turns on the lights. And that’s exactly what sleazy bankers will do when their bait-and-switch “Gotcha!” tactics are displayed in front of God and everyone.
Needless to say, banks and credit card companies are trying to block the CFPB from creating this database. They don’t want anyone lifting up that rock and showing the public what those slippery creatures are doing underneath it.
If you would like the CFPB to create this online database of credit card customers‘ complaints, please sign this petition.
Labels: CFPB, Consumer Financial Protection Bureau, online database credit card complaints
posted by Tom Harper @ 8:10 PM
6 Comments:
That's a great idea. The more information we have the better we will be served.
I also like this proposal and the chance for consumers to better protect themselves. I doubt the publicly available information will be detailed stories of people's difficulties with credit card companies. More likely, what you'll see on the site is brief, simple indicators that, taken together, can reveal problem patterns. Card A tends to sneak in additional fees on little notice; Card B goes from teaser rates to extremely high rates if a single payment is one day late; and Card C plays games with its definition of what constitutes arriving on time, along with disappearing its grace period. And so on.
Information of that kind could be very helpful to warn consumers away from bad card issuers. Who knows, it might even cause some card issuers to clean up their act, when they see they're losing business because of their bad habits.
Rushpubliscums will, as always, do whatever they can to protect the criminal at the expense of the working American. It's their "values" on display.
And yet, millions of DNA-challenged simpletons look to the Rushpubliscum Party as their champions.
Wonder if they will take back dated complaints when it's up and running. I don't know if I mentioned this here, when they were going through the whole credit card fee fiasco in the house. Right after that whole deal, Citibank, who I had a card with for almost 13 yrs, first under the 'rents account, then my own, closed my account that had a 11% rate and put me into a "business" type acct that they upped the interest to 29.99%, guess it would look bad if it was all they way at 30 or sumtin. When I called to get the reasoning behind that, it was all about how they would lose money if they didn't get in front of the legislation in the house at the time and one of the loopholes said they could do it that I found later.
I closed it right then and there, because I hardly ever used it and have gone with a credit union visa card I opened, when I moved my monies from BofA and Wells Fargo.
The banks are just mad they don't have a Republican president to let them write bankruptcy and lending laws.
Jerry: Yup, the more information we all have, the better.
SW: That's my take too. Nobody's personal information and nothing too detailed; but enough to warn the public about which scams and booby traps to watch out for.
This database might cause some banks to clean up their act; or they might just spend more money lobbying to get that commie database taken down.
JR: Sleazy politicians and DNA-challenged simpletons -- a great team.
Jess: That's a good question. I remember when these laws were first passed, and all these banks were scurrying to do as much gouging as possible before the laws took effect.
So your bank promoted you to a Business Account -- lucky you :)
Dave: The banks are still doing pretty well under Plan B -- instructing their prostitutes in the House to delay and de-fund every possible attempt to protect consumers.
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