You are here: Home / Blog / Archives for May 2009

Your Opinion is Wanted for a National Poll on Divorce

May 26, 2009 By



Your opinion is wanted for a National Poll on Divorce:

Baby Boomers and Divorce: A Bumpy Road for Many? 

To determine if a consensus exists about how divorced baby boomers are holding up, Eons is collaborating in a National Poll with the National Association of Divorced for Women and Children and the Baby Boomer [Knowledge Center].  

The poll will take only a moment to answer and how you vote is completely anonymous!   

Click each link to vote.  

1) The most challenging part of getting a divorce for me was: 

http://www.polldaddy.com/p/1557595/    

2) What life skills would have been helpful when going through your divorce? (for example stress management, coping skills and/or communication skills?)

http://www.polldaddy.com/p/1504675/ 
 

3) What is your relationship now with your former spouse?

http://www.polldaddy.com/p/1504679/ 
 

Thank you for participating.  

The results of the poll will be published on June 15, 2009. 

 

 

 



Filed Under: Blog Tagged With: ,

Victory – Consumer Voices Heard by Congress on Credit Card Reform!

May 21, 2009 By Leave a Comment



I received this letter below from Consumers Union on this issue that I have been following for several months now.  It shows that our voices really do matter!  Although I don’t think this legislation goes far enough or takes place soon enough, the fact of the matter is that it is definitely a big step in the right direction.  Thanks to those who took action on this issue!   ~ Lisa ~

Thanks to you–your phone calls, your emails, your donations, the personal stories you shared with the press and lawmakers, the personal visits you made in Washington and at home–We Won!

The House of Representatives just passed the credit card reform bill on a bipartisan 357 to 70 vote. Yesterday it passed in the Senate 90 to 5. We don’t have information about the individual votes, or we would pass it along. Look for an update in next week’s regular ConsumerLine email newsletter.

The bill now goes directly to the President’s desk. We hope for a signing ceremony as early as Friday.

What does the bill do?

First, it moves up the effective date for reform. An earlier effective date for rate relief was a big part of your message to Congress since January. Then it: 

  • Restricts all interest rate increases during the first year and restricts interest rate increases on existing balances
  • Increases notice for rate increase on future purchases
  • Preserves your right to repay under the old terms after a rate increase
  • Limits fees and penalty interest
  • Requires fair application of payments–not just applying your payment to the lowest interest balance
  • Provides gift card protections
  • Protects young consumers

And more! Here’s our updated page summarizing your new rights as a card holder.

It’s been decades since Congress passed credit card rules that were opposed by the credit card industry. Why did they do it? Because of you.

You turned your frustration with your card bank into action for real reform and you did it with passion and intelligence. Thank you for everything you do! 

Sincerely,
Pam Banks
CreditCardReform.org
A project of Consumers Union
1101 17th Street NW, Suite 500
Washington, DC 20036



Filed Under: Blog, Credit Tagged With: , , ,

Consumers Union – Credit Card Reform in Washington, DC.

May 1, 2009 By



We are making some headway.  From Consumers Union an update on Credit Card Reform in Washington.  Let’s keep the pressure on!

http://www.consumersunion.org/pub/core_financial_services/011073.html

April 24, 2009

Great news on the credit card front!
Credit card bill passes out of House committee – full floor votes up next!

(Washington, DC) — The House Financial Services Committee last Wednesday approved the Credit Card Holder Bill of Rights (HR 627), which would protect consumers from abusive credit card tactics, including random interest rates on existing balances, even for those who pay on time. The bill is expected to be voted on by the full House this week.

Protections include:

• Prohibiting card issuers from imposing new, higher interest rates retroactively to existing balances
• Requiring 45-day notice of any rate increase
• Prohibiting universal default — when the card company raises interest rates on a consumer who was late in making a payment to a different creditor
• Prohibiting double-cycle billing
• Require banks to apply payments either to balances with the highest interest rate, or proportionally across balances with different rates

We were disappointed that most provisions of the House bill would not go into effect for a year, but we will continue to push for a shorter time frame as a final bill emerges from the process. The one provision the House panel did agree to implement more quickly is the 45-day notice requirement for new rate increases on customers. That will go into effect 90 days after the bill is signed into law.

Look for upcoming news about the Senate’s reform bill, S. 414, which has passed the Senate Banking Committee but has yet to be scheduled for a full floor vote as leaders try to get enough votes for passage. You can use our toll-free number to make a call to your Senators asking them to support the bill and pass it now.

Obama pushes for stronger credit card laws

The President is adamant that consumer-friendly credit card legislation gets passed this year. He made it clear by holding a meeting April 23 with top executives from 14 credit card companies, where he indicated he will be seeking changes to the House credit card bill, which is headed for a full vote this week.

President Obama may seek the following changes which would go further than the current bill:

• Require card issuers to get permission before charging a fee for exceeding their credit limit.
• Require banks to apply payments first to balances with the highest interest rate.
• Require card companies to disclose on monthly statements how long it would take to pay off a balance when making only minimum payments, and highlighting how much more the consumer would pay in fees and interest when doing so.
• Require any low-interest teaser rate to be offered for at least six months.
• Require standardized bill due dates so they are the same every month.

Two Senators ask the Federal Reserve to stop rate increases now

Senators Dodd and Schumer sent a letter last week to federal banking regulators asking them to immediately implement a provision in the Fed credit card rules which limits interest rate increases on existing balances. The Fed rules do not go into effect until July 2010, and the Senators cited their constituents’ reports of getting hit with drastic and sudden rate increases as reason for the immediate change.

 

 



Filed Under: Blog Tagged With:

TechOSS Website Development and Website Design Services - 973954402