OK, now Ken Lewis is leaving Bank of America. Good, and good riddance. Now, bring on the next extortionist-in-chief. Strong language? You bet, but what else do you call a company that takes billions in taxpayer money and then further covers its butt by arbitrarily jacking up credit card interest rates to, in many cases, as high as 30 percent? “Thank you, valued customers, we appreciate your business.”
If you’re as fed up with banks and credit card extortionists as everyone else, you might be interested in an event taking place tomorrow here in Charlotte. A group of pastors, students, activists, veterans, and regular ol’ citizens will march to the Bank of America and Wells Fargo/Wachovia corporate offices in support of new laws that would reinstate penalties for usury (excessive gouging through exorbitant interest rates). Did you know that at the founding of this country, interest rates were capped at 6 percent? The march tomorrow will urge Congress to cap interest rates at 10 percent, thus the name of the campaign, 10 Percent Is Enough. The march starts tomorrow at 11:30 a.m. at Mt. Moriah Baptist Church on West Trade Street. Find out more information about the 10 Percent Is Enough campaign and tomorrow’s march here.
This article appears in Sep 29 – Oct 6, 2009.
I changed to a credit union years ago because your average person is just something to be profitted off of and not valued at most banks. My credit union has never done anything that would seem unfair or abusive to me. I would advise other to find a credit union ASAP.
Obama wants to screw over credit unions with the CRA act. The CRA was the spark that turned into a fire called the great recession.
Does anyone else find it amusing how Frank persistently calls others “partisan” while managing to turn every one of his multitude of comments into a opportunity to remind us all that he hates Obama?