Lets let congress know

[almost]

Has anyone on this forum attempted to put to gether a email or mailing to all the members of congress about caving in to the CC companies. Maybe something to forward to the folks running for office right now. Because really, isn't this just what the whole change thing in the gov. is all about with these new candidates.

[jp2861]

This is just a personal opinion, but I feel the ones you want to write to were part of the new reform. They didn't pass the new laws without getting something in return.

[Bandit]

This is another big issue that has still not been focussed on & it is going to sink us all in the mudhole including the banks. I don't see much changing in the next 8 years but maybe in the not too far future something will have to be done & it will be a main issue at election time...just not this time. There is going to have to be some government regulation in that area...it is just the way it is or the middle class & poor will (which by the way is where they make their money) will cease to exist & then so will the banks.

2 cents

[jp2861]

Regulation would be a bad thing. Maybe I fall in the group that wants government involved in my life at lowest level necessary. The key is education. Consumers need to learn how the game is played and how to not get ripped off. Once educated, there's absolutely no need for regulating the industry. Uneducated consumers and consumers making bad money decisions caused the problems, not the industry. Granted, the industry allowed some of the problem, but it's still Joe Consumer that signed on the dotted line.

[FLBK7]

This is another big issue that has still not been focussed on & it is going to sink us all in the mudhole including the banks. I don't see much changing in the next 8 years but maybe in the not too far future something will have to be done & it will be a main issue at election time...just not this time. There is going to have to be some government regulation in that area...it is just the way it is or the middle class & poor will (which by the way is where they make their money) will cease to exist & then so will the banks.

2 cents

Back in the early 1970's when CCs started to become known and popular, the cap on interest rates was 18%. I think we urgently need a cap again.

[Bandit]

Back in the early 1970's when CCs started to become known and popular, the cap on interest rates was 18%. I think we urgently need a cap again.

Really? I did not know that, but that makes a whole lot more sense. We URGENTLY need a cap.

[Bandit]

Uneducated consumers and consumers making bad money decisions caused the problems, not the industry.

but guess what, if it were not for those people who are uneducated (which I dont believe that is the whole problem), these banks would not be making a dime so they are still sharks taking advantage of people. if they were not taking advantage of them in a very bad way, then they would have no income. Remember, the wealthy do not pay interest, it is the poor & middle class who need loans.

But you are right, there are people who do not know what APR means & they do not know the difference between 9.9% & 30.9% interest. Sad but true.

[almost]

You are right, consumers do sometimes make bad decisions. My point is to let congress konw that they are working for the people/consumer NOT big business, ie. the new BK code written by lobbyiest for CC companies. I don't want the gov.s over involvement in the public, but I don't want them to forget that they were voted in to represent the poeple/consumer.