Sep 25, 2009
SAN FRANCISCO -Cheryl Hernandez Camus was sentenced to 63 months in prison, and ordered to pay $1,457,255 in restitution for mail and wire fraud in connection with a real estate investment scheme, United States Attorney Joseph P. Russoniello announced.
Ms. Camus pleaded guilty on December 12, 2008 to five counts of wire fraud and two counts of mail fraud. In pleading guilty, Camus admitted to devising a short-term money lending investment scheme in which she promised fixed returns and the return of the ... Read More
Sep 10, 2009
Debit card overdraft fees are helping to pay banks’ bills in the recession—and they're hitting customers hard, the New York Times reports. “Banks will let you overspend on your debit card in a way that is much, much more expensive than almost any credit card,” says an analyst. Spending money you don’t have can result in massive fees—the Times calls out one shopper who was slapped with seven $34 fees in one day: Banks are set to make $27 billion this year ... Read More
Sep 4, 2009
Many credit cardholders find their interest rates rising, minimum payments spiking and credit limits plummeting, says Consumer Action, which today releases its 2009 Credit Card Survey.
The results of the new Credit Card Survey confirm widespread cardholder complaints that even excellent customers who carry a balance are subject to costly, unilateral increases in their credit card bills.
Consumers are seeing increases in purchase rates, cash advance rates and in some cases default rates. Some issuers are using the new credit card law coming next ... Read More
Jun 19, 2009
We periodically read other consumer complaint sites to see what active trends in business/consumer relations lie. And every so often there is an articles that will not fit the demographics of a site. On Monday June 15th 2009 major credit card companies announced a rise in consumer card defaults, and some consumer sites have picked up on this information. The rise across the board is roughly 1 percent. Although that seems small in contrast, to big business that means serious a serious ... Read More
Apr 6, 2009
The victories just keep pouring in. Rep. Carolyn B. Maloney (D-NY) the sponsor behind H.R. 627, has got her bill through the sub-committe which provides the U.S. consumer one more tool towards protection from greedy credit card companies that have been running rampant with abuse for so long. The “Credit Cardholders’ Bill of Rights,” provides crucial protections against unfair, but unfortunately common, credit card practices.
Here is the summary of this bill, and what it will do for the consumer.
Ends Unfair, Arbitrary Interest ... Read More
