Credit Cards and Contract Law

11/30/2006

Hello Credit Card Concerns,


I totally agree with your concerns Margie.


Almost everything is so regulated except for the credit card industry. Many if not most of the population is velnerable to credit card "Banks" all of whom are managed from states that have barely any regulations. Ever wonder why so many are located out of South Dakota?


I would like to see Minnesota be one of the first states that is willing to step up and protect our people here from credit card banks ruining other lives of people.


Now that my parents are over the age of 90 years old, having some difficulty in physical and mental functioning, they get more credit card offers than ever in their life !


I think the "mob" used to charge about the same fees back in the 30's and 40's, charging anywhere from 25% to 50% of the money borrowed.... Credit card companies have gone over 33% now too... I have heard it said that now the mob has gone legal, and so do we really know who owns these banks...?


I am on board with you Margie, and I this credit card industry needs more oversight, and the people should have more protection from being exploited.


Sincerely,
Drew Campbell, Mankato