Obama pledges to fight credit card fraud
The Obama administration, as well as the House and Senate, is looking to enforce tougher standards on credit card companies. They seek to protect consumers from sudden fee hikes and unintelligible fine print, as well as enact stricter industry standards. The banking industry is concerned that excessive government regulation could actually hinder credit lending. On the other hand, many Americans feel government must reign in an out of control credit card industry that has bamboozled consumers for years. Some Americans cringe at the thought of more government intervention and believe citizens must take greater, personal responsibility when it comes to utilizing credit cards. Others question whether or not the federal government has the constitutional authority to intervene in such a way. What do you think?
Jerry silovich said:
pres Obama should get the hell out of credit cards. let the people fix thier credit. OPbama wants to micro mange the economy what he dosnt know a damm thing aboutt. what college or universirity did he learn economics frrom?
April 24th, 2009 at 10:50 am
Jim Wahler said:
Nobody is ‘forced’ to use a credit card. I once got into deep trouble with them, but now have excellent FICA. Anyone with a good FICA can usually get the card company to reduce their interest and I’ve even been able to get them to refund late charges and penalties!
You are right Jerry, and the same can be said for Congress.
April 24th, 2009 at 1:50 pm
Stevelee said:
We started writing out of our concern for what was happening to our country and to the effects of “Globalization” on Americans.
We updated our article, Google: Think Credit Steve Lee (Click: it should be on the top line.)
Another article, Google: Think Democracy Steve Lee (Click the top line.)
April 24th, 2009 at 4:03 pm
Tricia said:
First government tells credit card companies to lend to anybody and everybody, then it tells them these practices are the cause of our problems and they must stop, and now when they are enacting practical policies to reduce defaults, they are being told to lower their standards again. This has gotta stop! When are we going to learn that government intrusion only makes things worse?
Many studies on this have concluded that laws enacted to supposedly protect the little guy from “predatory lending policies” will only hamper their access to credit. Our legislature seems to think that poor people are stupid and can’t read or understand bank terms and conditions. I personally find this insulting and feel they are just show boating to look like they are doing something useful which will in the end just erode more of our liberties.
Having a credit card is not a right and if you don’t like the terms and conditions they come with, well just stop using them.
April 25th, 2009 at 9:49 am
Patricia Bechtholdt said:
Obama is not doing anything to make any situation we have better. All he does is keep bringing up new things to stir into this mess to hide the other things the administration has started involving themselves in. Nothing is getting corrected and no one notices, who is just randomly paying attention. All most Americans know, is that he is involved in things they are concerned about. How do we fight this? Do we take out advertising during American Idol? Get ready for another Primetime FREE (for Obama!)30 minute speech. Shouldn’t Republicans be given some free TV time after all this?
April 26th, 2009 at 8:22 am