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STILL WAITING: “Unfair orDeceptive” Credit Card Practices Continue

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wmarat
Valued Contributor

STILL WAITING: “Unfair orDeceptive” Credit Card Practices Continue

http://www.pewtrusts.org/uploadedFiles/wwwpewtrustsorg/Reports/Credit_Cards/Pew_Credit_Cards_Oct09_F...

 

 

 

One hundred percent of credit cards from

the largest 12 banks used practices deemed

“unfair or deceptive” under Federal Reserve

guidelines. None of these bank issued cards

would meet the requirements of the Credit

CARD Act of 2009.

 

Credit unions offered significantly lower

advertised rates compared to bank credit

cards, with penalty fees that were half the

cost of comparable bank fees and fewer

dangers associated with “unfair or

deceptive” practices.

 

IN VINO VERITAS.
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