The big banks and credit card companies are at again! Despite billions in taxpayer bailouts, they’re hiking interest rates and raising fees on our credit cards, often for no reason whatsoever. In this collapsing economy, we don’t need the big financial institutions looking to our credit cards for ways out of their financial mess.
Members of Congress just reintroduced bills to rein in these abuses, and we need them to pass now! The Federal Reserve agreed credit card reforms are needed, but then gave the companies 18 months before they have to comply. When our rates go up, we’re lucky if we get 24 hours notice, not 18 months!! So until the middle of 2010, card companies can increase our rates and fees and continue to squeeze us to make up for their losses on Wall Street.
Please join me in sending an email to your elected officials urging them to pass credit card reforms and implement them now not in 2010. It is time to prohibit credit card companies from arbitrarily hiking interest rates on our card balances, and stop ‘bait and switch’ clauses that let them change interest rates and fees for any (or no) reason whatsoever.
The more people who send a quick message to their Senators and Representative, the better chance we have at putting Main Street, not just Wall Street, first in the economic recovery.
Coast Contact 
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