Re:Credit Cards and Contract Law

12/01/2006

I found this at Elizabeth Warren's


http://warrenreports.tpmcafe.com/blog/warrenreports/2006/nov/30/an_ill_wind_for_credit_card_companies#comment-183566


at


TPM :


Who's in Charge?

http://www.americanprogress.org/events/2006/11/whos_in_charge.html


at:



http://www.americanprogress.org/events/2006/11/whos_in_charge.html


This event happened this morning hosted by the Center for American Progress. Not exactly what I had hoped for but as Elizabeth Warren says: "One more conference, one more gust of wind." What this signifies is that this is an issue just waiting for someone to turn it into a bonfire. Got wood?


- Margie A. Hoyt Watonwan Co. A/C


On 11/30/06, Bob Walser seasongs@spacestar.net wrote:


I recently had correspondence with the Attorney General's office about problems I had with a card issued by HSBC for Menards which right on the statement disclosed an APR of 52.21% (how does one define usury...). I got a terrific four page response which argued (in brief) that the credit card industry is out of control in part because the companies operate across state lines so states' attorneys general can't do anything and the big-business-loving congress won't do anything. Needless to say I cancelled my card, but beyond that step I'd love to hear of ways this out-of-control industry could be checked.


- Bob Walser SD60 - Minneapolis 10/10