The Card Game I

A conversation about deceptive credit card practices with Oriana Zill de Granados, producer and writer of the Frontline documentary, "The Card Game," and Gail Hillebrand, Senior Attorney at Consumers Union, and director of http://defendyourdollars.org/

If you've recently received something that looks like junk mail from a bank, you might want to read it. Credit card companies are jacking up interest rates by 20 to 30 percent, but because there's no law that mandates how these notifications are sent out, the banks wouldn't mind if you just threw away the notice and continued paying the minimum balance.

After 10 years of inaction, Democrats recently passed the Credit Card Accountability, Responsibility and Disclosure Act, but the new reforms don't go into effect until February. The banks are doing whatever they can to cash in until then. Profits from credit card penalty fees are expected to top $20.9 billion this year alone.

Watch "The Card Game" - http://www.pbs.org/wgbh/pages/frontline/creditcards/

Find out how much Wall St. has given to politicians at the Center for Responsive Politics: http://www.opensecrets.org/index.php

Category:

News & Politics

Tags:

• credit cards
• banks
• frontline
• the card game
• consumers union
• debit
• debt
• bankruptcy
• deceptive practices
• interest rates

[CheBrigade]

"fuk a goddam capitalist!

claiming that theyre keepin it real...

fuk a goddam capitalist!

because they lie,steal,and give your ass a

bill!!"