Credit card gripes flood Fed
Consumers are filing a record number of comments — mostly complaints — about credit cards with the Federal Reserve, adding momentum to efforts to reform the industry.
SBI Credit Card.com advises all consumers to get their voice heard if they have anything on their minds when it comes to the dealings of the credit card industry. You have until Aug. 4 to weigh in. Already the Fed has heard from a record number of people, the most ever concerning a credit card proposal. Read more
Consumers get rare chance to try to effect changes in credit-card rules
SAN FRANCISCO (MarketWatch) — If you’ve ever complained about an unexpected interest-rate hike on your credit card, now’s your chance to have your gripe heard. But you don’t have much time.
The Federal Reserve is accepting comments through Aug. 4 on credit-card reform rules it proposed in May.
SBI Credit Card recommends each and every consumer make their voice be heard in this unprecedented move by the Federal Reserve. As the saying goes, “It’s time to put up or shut up”. There’s no sense in complaining to deaf ears. Now is the time every consumer can be heard. The Fed has proposed some real good changes in the way credit card companies will do business and many of these changes really benefit the consumer. Although the credit industry disagrees and has come up with some very valid reasons of their own, on the whole, the Fed has got some great improvements put together.
SBICreditCard.com recommends everyone voice their opinions. Just go to www.federalreserve.gov and post your comments.
