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May
25
An effort is underway, via the State Treasurer’s office, to elicit feedback on proposed rules that will help protect consumers. Here’s the info:
SPEAK OUT! STOP UNFAIR AND DECEPTIVE CREDIT CARD PRACTICES
New rules are being proposed to protect consumers against unfair practices by credit card companies. Join State Treasurer Richard Cordray in support of these new protections for Ohioans. The deadline is August 4th.
Proposed changes include ending:
- unfair time constraints to make payments
- unfair allocation of payments among balances with different interest rates
- unfair application of increased APR to outstanding balances
- unfair balance computation
- unfair fees for exceeding the credit limit solely because of a hold placed on an account
- unfair fees for issuance or availability of credit deceptive offers of credit.
Click here to support the changes and submit your comments. You can also help spread the word by sending this to a friend!
If you have experience with the need for these rules, please visit this page to provide your feedback. I’m told that hundreds of comments came into the office within hours of sending out an alert about the comment procedure.
By Jill Miller Zimon at 6:44 pm May 25th, 2008 in Politics
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