Congress Pushes For Credit Card Relief

[Purveyor]

Source: CNN Money

New restrictions on lenders will take effect in 2010, but several in Congress are leading the campaign for faster reform.

January 19, 2009: 8:46 AM ET

(CNNMoney.com) -- With last week's re-introduction in Congress of a bill to rein in what critics say are abusive credit card practices, the stage is set for a Washington battle that will determine whether entrepreneurs and other credit card users get relief soon from soaring rates and fees.

The Credit Cardholders' Bill of Rights was introduced Thursday by Rep. Carolyn Maloney, D-N.Y., in the House, and Senators Mark Udall, D-Colo., and Charles Schumer, D-N.Y., in the Senate. The legislation would take a number of steps to restrict credit card issuers, including:

* Banning retroactive rate increases on existing balances for cardholders in good standing. Rates could still be raised if a customer were more than 30 days late with a payment.
* Requiring 45 days' notice of all rate increases on new charges.
* Banning "double-cycle billing," which allows fees to be charged for balances that were already paid off.
* Allowing cardholders to cap how much they can charge to their cards, to avoid overdraft fees.
* Outlawing "universal default" clauses, which automatically hike rates on a card based on unrelated financial activity, such as being late paying another bill.

"A credit card agreement is supposed to be a contract, but in recent years cardholders have lost the ability to say no to unfair interest rate hikes and fees," Maloney said in a press statement. "This bill levels the playing field between card companies and cardholders while fostering fair competition and free market values."

Read more: http://money.cnn.com/2009/01/16/smallbusiness/congress_credit_card_rights_bill.smb/index.htm

[jimlup]

1. Pass this now

We need to stop the monetary slavery that the credit card companies have managed to create. This is only a small step in the right direction.

[roguevalley]

32. drop the usurious rate to 5% and see an economic turnaround, at

least at my house. I would have zero debt if they didn't charge half your ass a month. GOd will not smile on these predators when they come to him some day. (My personal fantasy) It is the blight on Joe Biden's bright smile for me that he did this to us back when.

[jazzjunkysue]

2. This will be an interesting test of the democratic alliance: Us, or the banks.

If they don't pass it, you'll know this administration and majority party won't be all that different from the last.

[notesdev]

8. we already know that

the misguided and consumer-crushing law they passed in 2005 was bipartisan.

[KakistocracyHater]

52. yep, look over at the UK

http://www.scotsman.com/latestnews/Warning-that-UK-is-on.4888458.jp

....."Sir George Mathewson, a former chairman of the Royal Bank of Scotland and chairman of the Scottish Government's economic advisory council, said that economic conditions would worsen.

He also attacked Gordon Brown and Labour for their key policy moves during the crisis: the VAT cut, recapitalisation of the banks and the £20 billion guarantees of loans to small business.".....

..."Alistair Darling, the Chancellor, last night said the package was designed to deal with "blockages" in the system that were preventing the flow of mortgage lending".....LOOK BELOW, 3 MONTHS AGO-WTF?

........."A separate scheme worth £100 billion to underwrite mortgage-backed securities will also be unveiled. A swap of the government's preference shares for ordinary equity shares will also be offered to banks, paving the way for full nationalisation.

In the £37 billion bail-out three months ago, the government took out preference shares, which carried a charge for banks of 12 per cent.".....

SOMETHING'S AFOOT AND IT ISNT WHAT THEY ARE SAYING, IT IS NOT POSSIBLE TO PUT THAT AMOUNT OF MONEY INTO US AND UK BANKS AND STILL HAVE THEM BEHAVE LAWFULLY IN THIS MANNER.

STRAIGHT UP THIS IS THE BANKSTERS ATTEMPT TO END DEMOCRACY.

[Donnachaidh]

3. How about a roll-back to single digit rates?

People are being strangled by the USURIOUS rates being charged. When was the last time you had a bank offer it's customers double-digit returns on their savings accounts?

But these same banks and card companies REGULARLY award THEMSELVES with double-digit rates -- ROLL THEM BACK. Stop REWARDING these companies with rates that would make AL CAPONE giggle!

[4_TN_TITANS]

9. That's what I'd like to see...

but don't hold your breath for any action in Congress that would be of real help to us.

[tbyg52]

12. Word. nt

[Dreamer Tatum]

26. Sure...just roll back to single-digit losses nt

[1monster]

30. The bank that I have been dealing with (through seven or eight differenc bank take overs) now offers

0.01% interest.

I was so pleasantly surprised when my son took up an offer from another bank that has an office at his school. They are paying 1%. I'm about to move all my savings there, unless I find a better rate at a credit union.

[taught_me_patience]

43. Not feasible

AAA rated corporate bonds are trading at 6-7%. What would you invest in, AAA GE bonds at 6% or joe six pack with a credit card at 9%?

[JCMach1]

53. or 3x the prime rate...

[closeupready]

4. This is a start, but I am really not impressed with these wimpy measures.

The kinds of reform that need to happen are like interest rate caps, undoing bankruptcy reform, caps in late fees/penalties, meaty stuff.

[Politicub]

10. I agree. A bill needs to be passed with some bite.

This is a good start, but falls short in providing the types of protections that consumers need. Interest rates need to be capped at a reasonable rate, and there should also be strict guidelines around fees that the banks can charge. It's outrageous that lenders can get away with changing a contract mid stream.

[Hansel]

21. Agreed. Having run a credit card collections dialer for a large bank

I know that they love the fees. It was very clear that if we sent the calls out in the 1st 30 days of the card being delinquent that a very high percentage of those who received the calls would pay before the next cycle. Usually they had just forgotten and were grateful for the call. So I did this. This really annoyed the bigwigs and eventually I was told to stop because they couldn't collect the next cycle's fees and penalties if they paid. The longer a person is late the more likely it is that they continue to fall behind, thus more fees. "This is how me make our money", they said with big grins.

Credit card companies should be required to prove that the late fees and penalties, as well as interest rates that they charge are necessary to cover their costs to collect those fees without being excessive. Right now they are using excessive penalties in order to pay for perks to attract wealthy customers. So somebody who just forgot to pay, or couldn't afford to pay their credit card bill because they were laid off of work or had unexpected medical bills are being financially ruined so that Joe Business executive can get his hotel or airplane ticket paid for his family vacation. It's really quite sickening.

[DUlover2909]

27. That's exactly how I see it. Thanks.

They should have instead told you, "This is how we steal our money." They didn't earn it. They didn't have a product to exchange for the money. They didn't do anything but make an arrangement that allows them to collect extra money. They know full well it's an unfair scam.

I want to see the banks make it impossible for a person to overdraft their checking account with a debit card transaction. They do it with credit cards. Why not debit cards?

[Fire1]

33. Please put this request on 'Change.gov' under Economics!!!!!!

[closeupready]

65. Done.

:)

[Fire1]

70. Thankyou and much love!

[defendandprotect]

5. Hope everyone is calling Congress on this -- Obama "Change" as well ... AND..

We also need to bring an end to No "Statute of Limitations" on

Student Loans. Used to be 6 year limit --!!!

There are groups and Petitions ..


http://www.studentloanjustice.org

http://www.facebook.com/group.php?gid=7704336701

www.nclc.org/action_agenda/student_loans/content/nowayout.pdf

Still checking for more info --

Also, some are appealing to Obama for amnesty on student loans -


Meanwhile, as universities are corporatized costs are barring many from education.

We can all fund education with a pool as proposed by Sen Bill Bradley years

and years ago --

[Left Coast2020]

25. THANK YOU, THANK YOU, THANK YOU!!!!

This is awsome information. Thank you. Absofriging-loutely! This is, or has been my mantra for the past few years. Sallie-Mae, which is a major lender for student-loans, simply crushes those of us who have struggled to get out from a heavy debt-load. When did I finish college? 1995. I started in 89 in community college and progeressed from there. I was not of "standard" college age. I went back to school as non-traditional student--in my 30's. I returned because I thought it would lead to a better opportunity. Or, better yet, make me look more appealing to prospective employers. I thought it had a "label" of some special meaning when printed on a resume.

I have written the Obama transition team on this at change.gov. I hope someone will get the message. I'm in the middle of deciding wheather or not I should file for bankruptcy because I can't afford to pay back any more--at this time. No job, savings depleted, and teaching job I had in China 2-years ago screwed me out of money that was promised to me on contract. Thats why I went there was to work so I could bring balance way down.

Paying money back and not getting ahead (interest only) can really bring you down. Its almost like going in circles or something.

[defendandprotect]

39. This is a CREDIT issue . . .

and I hope you'll pass info along and perhaps also do some searching

for organizations working on it.

And, wow . . . I hope you already knew this, but bankruptcy under current

rules won't help you with Student Loans.

For a time, they will suspend payments but that only adds to the interest.

I'd also suggest that has been very difficult for parents, as well ...

Debt like this is enslavement and we have to keep a lot of fire under

those we've elected to bring credit companies back in line. Usuary laws, etc.

[lunatica]

6. Curbing the credit card penchant for charging 'service fees' would help every consumer

For months my credit card 'minimum' payment has been the 'service fees' being larger than the rest of the payment. They have us where they want us, and they aren't letting go till they're forced to let us go. Two thirds of my cc payments are for fees. It really qualifies as usury. And every credit card I paid in full in the last two years has instantly sent me one last bill in which they charge a large 'service fee'.

[Gormy Cuss]

7. It's a start. n/t

[acmavm]

11. BROTHER. To think we need an Congress to put an end to

business practices like this is mind boggling.

edit: No one should ever have been allowed to get by pulling this crap.

[defendandprotect]

40. These corporations bought corruption of the rules . .. !!!

and the legislators to agree to it --

unfortunately, many Democrats aided with the new bankruptcy laws!!

[acmavm]

46. Uh, like maybe Joe Biden?

[defendandprotect]

49. Wow ... didn't know --

We lost C-span coverage of Senate about 1 1/2 years ago and tho I can tune

in via internet it isn't the same and don't remember to do it very often.

Comcast does some really odd things at time -- like one year changing all the

TV channels around election day! And C-span, itself, has also changed, IMO,

under weight of right wing control of government.

The bankruptcy stuff will gurt many -- and big money maker now for lawyers.

And think of the harm done to parents and students by the loans with NO

Statute of Limitations! Hope we all keep pushing on this garbage.

PS: Is Biden DLC? I've never paid much attention to him after the fiasco of the

Thomas hearings.

[acmavm]

54. Unlike many here, I detest Joe Biden. I saw his snarling, nasty performance

during the Anita Hill hearings and I knew he was a complete asshole.

He spent his entire career enabling these credit card companies to pull this shit against the consumer. Now that 'shit' has hit the fan.

[defendandprotect]

62. I've often spoken about that here --

the Anita Hill Hearings!!

While I keep hoping for the best from this administration -- both Obama and Biden and

everyone selected -- I'm still very concerned.

And, I share with you unpleasant memories of the Hill Hearings where the right-wing

were permitted to run absolutely wild -- outrageously wild -- and the progressives/

Anita Hill were trashed. Betrayed. And no question about who let that all happen.

PS: Is Biden officially DLC? I'm not clear on that.

[acmavm]

67. About the DLC thing, I don't really know. I know that he firmly and

proudly Citibank

[RCinBrooklyn]

64. I'm with you 100% on Biden. He's despicable.

[Wapsie B]

13. There also needs to be legislation that closes these paycheck loan places.

This is obscene. Who owns these places, the Mafia?

[Donnachaidh]

22. and the Title Loan companies

These rackets should be RICO'ed and put out of business.

[snappyturtle]

14. I agree with everyone up thread that the interest rates need to be

adjusted. While they're at it maybe they should 'adjust' interest rates on mortgages too. I think these two alterations would do much to help many, many people.

[Donnachaidh]

23. roll them back and place a ceiling on ALL loans

And the banks need to get PERMISSION to add fees and even then they need to JUSTIFY the fees fully.

[defendandprotect]

42. Usuary rates used to be 6% -

And now . . . even 10% would seem obscene!!

[shimmergal]

28. Yes!

Rolling back the amount of interest they can charge, plus other limitations, would have the same impact as big tax cuts for the ordinary American.

Can't we sell them on that basis?

Or how about a look at what the Bible has to say about charging interest, and cancelling debt? Seems strange that somebody hasn't tried to pick up on this, instead of sifting all those "laws" to find reasons against gay marriage.

[Lydia Leftcoast]

15. Interest rates on credit cards first hit double digits

during the Federal Reserve's attempts to curb inflation by raising interest rates sky high.

They never went back down, except for special promotional offers. The banks justify these rates by saying that they have to protect themselves from borrowers with bad credit, and yet, it's those very high interest rates that make payoffs almost impossible.

Credit card issuers join health insurance companies, payday lenders, rent-to-own shops, and military contractors in my own personal version of the Vultures' Hall of Shame.

[Donnachaidh]

24. and that justification was used by Al Capone and all the other racketeers

It's a deadly catch 22. And the banks KNOW this. And I'd expect the representatives who pushed through that evil credit reform bill (hello, VP Biden) know it as well.

Want the respect of all citizens -- Roll the rates back. That's the sort of change that will have EVERYONE dancing in the streets. Everyone EXCEPT the banks, of course.

[Lydia Leftcoast]

29. Even the banks might enjoy FEWER defaults

if the interest rates were lowered.

[defendandprotect]

41. But put a $1,000 in the bank and see how much interest you'll get --- !!!

[pattmarty]

16. This is a "good" bill? Are you fucking kidding? Write a bill that...............

........rolls back rules and regulations to 1965, I think that should be HALF-way fair.

[Blackhatjack]

17. Every One of these 'Reforms' is merely common sense fairness ...n/t

[jamesinca]

18. How about holding the card company accountable

They extend me a line of credit, they need to make sure I am worthy of it. Instead of giving everybody and their pet cow a credit card and asking the federal government to watch their back and pick up their mistakes.

I know the way things work with rental cars, textbook buying etc.... so you get $500 or $1,000. But giving people a line of credit, with credit cards, that have no way of paying it off is absolutely irresponsible of the card companies.

[Joe Bacon]

19. Restore the anti-usury laws!

I can still remember when there WERE laws on the books banning high interest loansharking rates. Of course they got swept away due to deregulation.

[Azlady]

20. I agree it needs more meat & changes to the 2005 bankruptcy laws

I would have never thought that looking into bankruptcy would be anything in my life to face. But with the lack of income for so long, we had no option but to use credit cards to pay household bills, food & gas, car repair.

In talking with a bankruptcy lawyer, with the new bankruptcy laws, a credit card company can remove your credit card debt from the discharge list, where your lawyer, the courts have no control and you are then going to have to hire another lawyer to try and get the debt either removed or reduced.

The credit card companies can claim fraud for use of the credit card, stating you "knew" you were going to have to file, we are trying to save our home, as we can keep it, as long as we keep the mortgage payment up to date. But it also looks like bankruptcy is not going to help us out. We have been simply trying to keep food on the table, a roof over our heads, heat in our home while we fight for our lives for jobs. (which ain't working out)!

A lot of good in having HOPE, in having FAITH that a job, a form of income would put us back on our feet. In no way did we ever think about bankruptcy while using our credit cards, now we are up shit creek with no paddle. Time to throw in the towel, scream uncle & find a nice card board box. I simply give up, without dramatic changes to the bankruptcy code, I'm toast, so many other hard working Americans that have been so screwed by b& co

[Joe Chi Minh]

31. The Government needs to make the credit card corporations pay for their

reckless greed, granting an amnesty to all credit-card holders below a certain income level. Then making sure that wages rise significantly, with a drastic reduction of the ratio between the compensation of a CEO and his lowest paid employee, so that the same people will be able to buy goods from the shops and over the Internet.

American-style capitalism is finished. It's as simple as that. The imbalance in the distribution of the nation's wealth was as grotesque as only that pre-trogloditic, psychopathic charade of an economic philosophy Milton Loony-toons could have engineered. The same in the UK.

Moral Philosopher, Adam Smith, while recognising that even the most brutish and primitive people could and should be permitted to contribute to society, still "freaked out" at the thought of businessmen being freed from controls, and must be turning in his grave.

[knightmaar]

34. "Lost the ability to say no"?

Really.

Really?

I know that some people, in a country without public health care, can get hosed by medical bills. I understand it and my heart goes out to them.

I'm going to guess, haphazardly, that this is not the problem with most people running balances on their credit cards. Of course you have the ability to say no, the same ability you have to say no to a cigarette and a second double whopper with cheese.

Somewhere, there's a classic SNL skit that explains the whole thing.

[SOS]

58. 90% of personal bankruptcies in this country have four causes:

1. Medical bills
2. death of spouse
3. loss of job
4. divorce

10% are people who overspend at the mall.
90% are people who were ruined in a society with no safety net.

[wroberts189]

59. Its easy to say "dont buy stuff" .. the snl skit

And its certainly prudent to be frugal. I really wish I could belong to your club... but I am forced to deficit spend sometimes.

But the op is talking about totally unfair and borderline if not outright fraudulent practices ..like bait and switch interest rates. Changing due dates and such.

I know its popular to think that everyone with a huge cc balance got there by out of control spending ..buying plasma tv's and xbox's ....but I am sure most are just trying to keep up with basic necessities like food and gas.

You have to have cc cards... want to buy a house? You need to show you have good credit with 3 open accounts. Want to rent a car or hotel room ? You need a cc.

Its easy to say "don't buy stuff" ... not so easy if your hungry or your kids need dental work.

But the snl skit was funny ..I just wish it was really that easy.

[pattmarty]

60. Yeah, free choice (what most religions believe) but the only problem......

......is all of us from birth are deluged with advertising and friends that have a new this or that. Economically I am lower middle class and NEVER in my life have had a credit card. My wife had one once (that I didn't know about) that she paid only the minimum on (as so many others do also) and I told her that for the lousy 1000 dollars that was outstanding she would NEVER pay it off. It took a lot of back and forth discussion (arguing?) to convince her that was indeed the case. What I always say nowadays is the credit companies put the mafia out of the loan sharking business. The mafia just couldn't compete with them (satire of course). Bottom line is, to put "fairness" into lending with easy to understand language on contracts, and limits on the rates and fees that are charged.

[Betty88]

35. ban the sat/sunday due date

if a payment can't post on a date it should not be "due" on that date

[Lydia Leftcoast]

44. Or changing due dates without warning

A well-known department store did that to me two months in a row. :grr:

I caught it, but the guy at the customer service desk told me that a lot of people didn't and were slapped with late fees and possible effects on their other credit cards.

[Commie Pinko Dirtbag]

63. In Brazil, if a bill is due a Saturday, Sunday, or holiday, you can pay it next business day.

No penalties. It's the law.

[Waiting For Everyman]

36. I agree with ALL of these ideas 100%.

Here's a question... How come banks charge "risky" borrowers double the interest (or more) that others pay, but then STILL charge late fees and other penalties? That's being charged twice or more times for the SAME THING.

They got their "risk premium" and then some, in the higher rates to begin with! How many times do they get compensated for the same thing? Any why should they be compensated at all for what MIGHT happen?

They create a self-fulfilling prophecy and then gouge even more for what they caused - blame the victim.

[sarcasmo]

37. Nothing more than fifteen percent, these rates are insane.

[RCinBrooklyn]

38. They should take their protest to Joe Biden's door. He's not saying much on it.

[wroberts189]

45. WATCH YOUR FIXED APR's.....PLEASE READ

I have had a perfect credit record for 10 years. So has my wife. This was after a bankruptcy when I was much younger and starting out (which I had learned my lesson) and is no longer on my record as I can tell.

I have been a day or two late but only maybe 3 times in those ten years.

The third time was last week ..it was because they charged interest after I had paid the whole listed balance off... they charge me a late fee of $15 on a 15.49 finance charge (Capital One) ..I got them to reverse it and paid the finance charge ..the card is going to be canceled.


Both Citi and Discover recently retroactively raised my rate 5 percent on my balances which are in the thousands (yeah I know but when you need the car fixed or an emergency they come in handy) ...Citi with no notice whatsoever. I called Discover and they backed down but then said I had a variable forcing me to dig old paperwork showing I did not ...I got the rate back down but they still made it a variable tied to prime. Citi raised me from 9.9 fixed to 14.9 fixed. I am going to pay them off with a no transaction fee cap one balance transfer offer (8.8%) if they do not fix it (this all was just noticed this week so I have not called Citi yet).

New lesson ..check your APR every month.

This is unprecedented .. they never used to be able to do this ..what happened ? They get you to sign up for a card for a certain fixed rate printed in big bold on the letter (with no asterisk fine print) then hike it on you for no good reason once you have run up a balance? I don''t care if there is some legal jumbo deep in their 10 page of micro print ...this is FRAUD.

The age old lesson... pay off the balance when the bill comes. I have to re-learn it again.

[defendandprotect]

50. What happened? They bought government . ..

as Ralph Nader for one has been telling us for 30 years and more --

And they bought the legislators ---

In other words, corporations bought the right to commit crimes against consumers.

Among many other corrupt activities!!!

When people talk about an "economy" as though it is something fixed and understandable,

I find it really amusing! An "economy" is what the powerful say it is.

We need to uninvent the dollar bill -- it's too easy a transportable way to move power

around -- especially power OVER people. Domination.

[wroberts189]

57. They sure did and what a deal they got ...sad . n/t

[AnneD]

69. An even better idea.....

save at least 1K in a savings for an emergency fund (my worst emergency seldom ran over that)then get to work paying your credit cards off smallest to largest. Cut your cards up. I have been sans cards for 6-7 years now and have done just fine. I have traveled, rented cars...all with my debit card. It is so wonderful to go on a trip or buy Christmas and be done with it. I have noticed that I have more money because I am not coughing up for fees and interest. I have yet to see a credit card that matches my debit card- zero interest-no fees, no billing cycle changes-hell no billing cycle, security features, convenience, and much more.

[Psephos]

47. Pass it already!! n/t

[DebbieCDC]

48. This is my one gripe against Biden and it's a big one.

All those damn banks and credit card companies are headquartered (with a PO Box!) in Delaware -- and HE greased the skids for that bankruptcy bill to go through.

Now man up Joe. You say you are with Obama and want to bring change and help the middle class? Prove it. Turn your back on those banks and cc companies. Roll back the interest rates to pre-1970's levels when the caps on cc interest rates were lifted.

I had perfect payment records for 10 plus years and more on my credit accounts. Back in Sept. my income got cut by $1200 a month (tenants moved out of my rental property that I had to move out of because I couldn't afford to live in that area of the country any more). In trying to save the house, I got behind on the cc's and had to take cash advances on them to keep up the mortgage on the house. Then the harrassment started -- constant calls, letters, etc. After over 10 years perfect payment history they kick you in the fucking teeth. All the calls were from India I might add! Usury and lost jobs go hand in hand.

Finally I turned all the accounts over to a Debt Management Plan (mind you, NOT one of these "we'll erase 60% of your debt" fly-by-night companies). This group I signed up with is one of the ones accredited by national consumer counseling federations and agencies. Fee is only $15/mo. It will take me 45 months, but I won't owe a credit card a penny, and after 3 months the cc companies have to reset my records to show current on all payments, forego late fees and over limit fees and start dropping the interest rates. It's one way out of this mess which I never saw happening to me.

So Joe -- who will you stand with now? Delaware banks and credit card companies or middle-class America? I'll wait and see.

On edit: spelling

[Skittles]

55. he won't be changing his tune

[closeupready]

66. Nope.

Unfortunately. But it may be one area of legislation which he needs to keep his mouth shut and let Obama's team attempt to fix.

[defendandprotect]

51. The cash checking cards are also taking a lot from small business...

and one owner of a family store - vegetables/prepared food/deli -- told me he could

add another employee for what the cash card costs him. I don't know if it's a flat

fee, as well -- but I think based on total money moved on the card.

Remember that during the fake oil crisis where prices rose to $4 a gallon, the gas

station owners were very aggravated that their costs on the cards went up as the price

of gas went up. So the card people had increased revenue with no additional burden.

Simply middle men.

Let's go Biden!!

[wroberts189]

56. This is a good point that does not get enough play

The "too big too fail" cc companies make money on the back end as well by charging any company that processes a transaction huge fees. Hence the gas stations (which are doing it despite their merchant contract that says they cannot offer a lower price for cash)

Those points you get ? Guess who pays for those? The biz that processed the charge that's who. And the biz has no way of knowing until they get their statement which shows all the different rates they paid per card.

I have a merchant account as a small biz and our fees have gone up like crazy ..especially after all these "points" cards which are impossible to detect until after the charge is made.

I wish I could post my statement ... $2500 in cc charges ..$450 in cc fees. WTF?????

They make money on both ends and they scream poverty, even after writing their own bankruptcy bill with the help of someone who should have known better... Mr Vice President elect.... why did you do it????

Remember what they said (tv pundits,congress) ? Interest rates and fees would go down because the "deadbeats" could no longer file bankruptcy ... anyone see that happen?? ANYONE???????

Instead it just got worse. Just like the MA experiment in making it illegal to not have health insurance ...when everyone is forced to have it the fees will go down the companies said. Instead they just jacked up the rates because now it was against the law not to have it.

You cannot trust a corporation to do anything but try and make more money ..its their only purpose and even written into law of corporate charters.


As someone else posted these new rules are basic common sense and do not go far enough.

[defendandprotect]

61. We should have CASH prices at gas pumps ...

Hence the gas stations (which are doing it despite their merchant contract that says they cannot offer a lower price for cash

And, I try as much as I can to use CASH for groceries -- but you always seem to just never

have enough cash with you! Keep trying!

[superconnected]

68. WOW!!!! It's about time!