Credit card 'bill of rights' on its way

  • Article by: KEVIN DIAZ , Star Tribune
  • Updated: May 1, 2009 - 11:42 AM

The House sends the Senate a bill that would restrict banks' practices and eliminate sudden increases in interest rates.

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Jim2005BeamApr. 30, 09 9:01 PM

Search for today's AP story on credit cards to get more details.

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tomarApr. 30, 09 9:59 PM

Protect and coddle those people who welch on their credit card debt, and let those honest people who pay their own bills, and also pay for the bills of the overspending out-of-control people ...... In other words, kiss the butts of the people who do not take responsibility for their actions and stick it to the people who do take responsibility for their actions ...... Typical Ellison Communist thinking .....

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wearebrokeApr. 30, 0910:47 PM

no sure thing, if you pay your bills. this means you don't spend more money then you can afford. you have to be a total idiot if you are one of these: "people carrying a balance is about $7,300"

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webceltApr. 30, 0911:52 PM

"Protect and coddle those people who welch on their credit card debt," Right, unlike the credit card companies that never ask for public money or behave irresponsibly.

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Jim2005BeamApr. 30, 0911:56 PM

"but goes further by adding restrictions for credit cards for college students as well as other changes." I was wondering about this. No cards to anybody under 18. Well Mom and Dad, now there's no way to teach your kids responsible credit card use while they're still at home. When they go to college, no card there either, apparently. The Federal Government wants to protect your children. So be prepared to help them rent a car or buy a airline or bus ticket to come home or go on a job interview or to pay the mechanic when their car breaks down. That's OK. They'll be so unprepared to function financially when they graduate that they'll have to move back home. Maybe then the Federal Government will let you teach them the financial facts of life.

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futuricsMay. 1, 0912:29 AM

politicians would have to pass a rigorous reading and comprehension test on the actual Bill of Rights. While we're at it, maybe we could also stop calling people "consumers" and go back to calling them CITIZENS.

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oseafoamMay. 1, 0912:39 AM

If this bill passes the Republicans will have one less group they are able to sodomize. At least financially.

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scottco229May. 1, 09 5:13 AM

lets see, never miss a payment, not even late..for 8 years of having the card..yet my rate doubled? doesnt make sense....all I can say, is isn't fair..I am the guy they want, who pays his bills, who lives in his means, but because they are doubling my rate..now it affects me financially, where is the incentive to pay? If you do things right, fair, and honest, you still get screwed by greed...

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thecapMay. 1, 09 7:17 AM

Is there any longer any doubt that this country is experiencing class warfare - the war of the fat cats against this President, this nation, and our people? People, do you like being run down and over by the runaway bus called unrestrained greed? The buccaneer capitalists and bankers must be kept on a very tight leash attached to a tight choke collar.

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kleindropperMay. 1, 09 7:21 AM

You buy a bunch of stuff, put it on your credit card and then don't pay them back. How is that the fault of the credit card company? I don't even know what the rate is on my card and it doesn't matter to me, because I pay my bill every month. I know, I'm just a sucker and won't be able to get a bunch of free stuff paid for by the taxpayers or the credit card companies.

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