Dodd sees hope for credit card legislation

Are you a "deadbeat," meaning someone who pays off their credit card balance every month? Issuers use this term "because you're a nightmare to them ... The ideal customer's someone who owes them forever," said ... Full Story
Tim

Middletown, DE

#1 Feb 11, 2009
Universal default is not used by any credit card company at this time, card companies make plenty of money off people who pay their bills on time...even in full that is just a false statement designed to rile up people that don't understand the facts. The people making these laws don't understand 10% of what they are legislating. It isn't that new rules aren't needed, it is that they are putting out rules that don't address the real issues, they are putting out rules that sound good but don't really address the core issues. And, at the same time are urging credit companies to lend more money.

Since: Jul 07

Miami, Florida

#2 Feb 11, 2009
Raise your hand if you trust the same people who created Freddie and Fannie (ie. Dodd & co.).

Now raise your hand if you think these same people should control credit cards or our economy.

“i hope we can change this!”

Since: Aug 08

usa

#3 Feb 12, 2009
Tropic wrote:
Raise your hand if you trust the same people who created Freddie and Fannie (ie. Dodd & co.).
Now raise your hand if you think these same people should control credit cards or our economy.
Hell, they shouldn't control the cash box at a high school cafeteria!
THey all suck

Waterbury, CT

#4 Feb 12, 2009
This legislation is years overdue...Dodd was asleep at the wheel...Better late than never...but it would have been nice if he hadn't been late on this long overdue legislation

Since: Jan 09

Newtown, CT

#5 Feb 12, 2009
I do not particularly care for Senator Dodd. I know he won't lose any sleep. That being said I am guardedly ,extremely so in my hope that the Banks' renegade ways can be heeled to a degree. While we consumers are responsible for our actions( No one put a gun to our heads and ordered us to take credit cards),the banks do have a responsibility to "Leave the Salt" out of the deep wounds that credit card debt contain.
By no means do I want Dodd and his ilk to have to much control of this aspect of our economy but here Government can offer a modicum of protection for consumers. Goverments place is in the area of keeping "Business" honest?(almost gagging as I write that word). We are gettin hosed enough thank you so this though very late and I believe designed to save Dodd's ass is crucial. We must continually ask ourselves however regarding other economic issues, Do we really want so much freaking Government control? I sure as hell know that I don't !!!!
Rafaelita

London, UK

#6 Mar 26, 2014
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