I didn’t know this. Thanks, Jane.

Does anyone know what the rate cap proposal is?

A cap? Whatever happened to usury laws? I don’t think they’re exclusive to Islam. However, we owe a lot to that culture for civilizing us, somewhat.

barney’s office says he’s not on the committee, so it’s out of their hands, but they assured me he wants it to pass.

“but isn’t it true that the rules committee does whatver the speaker and the other chairs want?”

“thanks, i’ll pass on your message.”

I’m seeing kabuki.

Several months ago, Bank of America sent me, unsolicited, a new credit card, which I did not activate. I’ve never used the card. Yesterday, Bank of America sent me a notice that it was unilaterally raising my fees for using this card. There will be higher fees on

ATM Cash advances
Bank transfers,
bank cash advances
cash equivalent
check cash advances
direct deposit cash advances
wire transfer purchases.

The minimum fee for each transaction will be $10

In addition, BoA, the bank that advertises its card is accepted all over the world — and thus I should have one when I travel abroad — tells me that they will also raise the fees they charge any time I make a transaction in a foreign country.

Bank of America — banksters

CITI bank sued against usury laws using “interstate commerce” as a reason.
They got SD to drop all its usury laws and then set up shop there. The case went to the SCOTUS

What Nancy Pelosi and Barney Frank Want;

To get along with their Republican collegues.

That tactic has worked out so well for our country.

The Democrat’s insistance on getting along with these crooks has resulted in the addition of the middle class to the endangered species list, an achievement the Republicans could not have done on their own.

The worst thing about credit card companies is that they know that there are alot of people who want free money. Many responsible people get a raw deal from these banksters, but i have no sympathy for people spending money they know they dont have.

It’s all kabuki.

I think that the applicable usury law is the one where the bank is located which you’ll usually see as South Dakota or Nevada or maybe VA and these states have usuary laws very favorable to the in order to attract them to locate there.

DUH.

very favorable to the banks.

i left that out. Not even gonna get into the typos

o/t

FOX reporting that the 183 number of times KSM was waterboarded is “highly misleading.”

Courts have long distinguished purchases from borrowings. Usury laws apply to borrowings. Sellers on conditional sales agreements etc. have no such limitation. In Connecticut, for some reason, usury laws do not apply to banks, possibly on the theory the banking commission regulates them. Now that’s a laugh and a half.

There are many situations where people have unexpected catastrophies in their lives. These might include things like health problems or job losses. When the banksters jack up the rates they are in effect guaranteeing a default and are punishing people for things they cannot control.

And the precise number of waterboarding sessions is still not known. What is known is that Mohammed was not waterboarded 183 times.

http://www.foxnews.com/politic…..ded-times/

Fox apes Rummy: We don’t want you to know what we don’t want you to know.

Do you think it’s fair to unilaterally change the terms of the lending agreement with effectively no notice?

Here is an article dealing with credit card rates and usury laws.
http://www.bankrate.com/brm/news/cc/20020320a.asp

What is the definition of a purchase and a borrowing. I am deluged with offers from cc cos offering to consolidate my non existent balances at other cos. Is this a purchase or a borrowing?

It should be a borrowing, but much depends on your state’s law. I am confident they have some legal theory by which they can sock it to you.

Absolutely not. Especially when they dont tell you about it until you see the new bill. The credit card companies can definetely put the screws to anybody anytime. And they can seriously damage your credit. But there are people who know that they dont have any money to pay credit card bills, who just use them anyway.

When the stupid credit card companies call to get us to pay them we tell them to take it out of the TARP. All of our credit cards are at 30%. The people who are out of work and/or sick are considered by the power elite to be the ones to carry their economy. We also tell them that it is unAmerican to put money back into the credit card system rather directly into the economy. You know, like paying the utility bills, etc. How many people have died because they couldn’t afford the interest and didn’t go to the doctor when they needed to? I could go on but I need to maintain some sanity.

JP Morgan and B of A, who received over $70 billion in bailout money, have doubled credit card interest rate on some customers.

BofA raised my interest on my VISA card from 9.2% to 23%, I been a customer for over 30 years and have never been late. Then in the middle of the month without any notice they cut my credit limit in 1/2 causing me to go over the new limit! I have called but to no avail. Needless to say I am in the process of moving my business elsewhere preferably to a credit union.

Ok. I am going to say something unpopular here. I am 57 years old and have *never* had a credit card. If I need something I save and pay C-A-S-H. I am not in debt because of this because well, I don’t buy something unless I can afford it. And I worked for a wage and raised three kids and now a 4th one without the “benefit” of those damn credit cards. I bought used when I could not afford new and I did without and learned how to repaid those things that I could not replace, I got rides to work (sharing gas money of course) and I took the bus or walked when the car was broken.

I guess I had parents and grandparents who survived the Great Depression who taught me that, patience is a virtue. Going in debt for a tricycle just wasn’t gonna happen unless I have the cash.

To be quite honest, I do not feel too sorry for people who are hooked on credit cards. They have willingly made themselves victims of loan sharks and bank CEO criminals because they actually believe they HAVE to have that brand new tricycle for their kid, instead of saving and paying outright for it. I am not saying what these bank and large corporate criminals do is right, but I will say that they only prey on willing victims who can hardly wait to go out and buy things they can not afford.

Let me tell you a secret: they *never* turn down cash, none of them. Never. Ever.

If we really want to undo (undue?lol) the bank system, why not boycott credit cards? You really don’t need ‘em nor do you need their nasty bureaucratic “debt collectors,” their outrageous interst rates, or the lie that you need them.

Sure you may have a rather home made birthday for your kid because well, you did not have the cash to hire that magician and the party organizer and only enough money to buy her one special thing she really wants. But maybe you WILL have a homemade birthday cake, lots of relatives who love the kid, and maybe some friends who will all be a part of a delicious potluck dinner in the back yard while the kids run through the sprinkler or a fun BBQ potluck at the park. Something that tells her she is surrounded by people who love her other than her parents whom she may need when she gets older and refuses to listen to you.

Do without those credit cards. Give them back to the banks and tell they WHY you are giving them back. Tell your legislator that you refuse to use them anymore and so his hand in that bankers’ or that WalMart CEO’ pockets is going to do him no good ~ especially if you get your family, friends and neighbors to join you in this endeavor.

Sorry I don’t think we need anything like this legislation to keep you in slavery to these unscrupulous people. Free yourselves of those damn cards and you will find true freedom from those blood suckers.

My 2 cents

Cat In Seattle

To suggest that you can get by without credit cards is not quite right. Dont know if you have done much business travel but hotels, car rentals, airlines…they all want credit cards. no credit card…good luck. Not sayin you cant do it but good luck. These services run on credit cards which is part of the problem. we really dont have a choice. We’re held captive by these corporate conglomerates which keeps our hard earned money going into their pockets.

This is not simply a matter of discipline. This is the Marketplace and these people are very good at getting other peoples money. Thats what they do.

Hasn’t been too long ago that banks wanted several credit cards paid on time in order to buy a house. If your bills were all paid …that was a ding on your credit.

Kinda’ like a hold up from the banksters when you wanted to buy a house.