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From: Your Name <you@example.com>
To: senator@dodd.senate.gov, senator@shelby.senate.gov, barney.frank@financialservices.house.gov, spencer.bachus@financialservices.house.gov
Subject: Credit Card DISCLOSURE is NOT ENOUGH
Dear Senator Dodd, Senator Shelby, Representative Frank, and Representative Bachus,
I write to you today regarding the Federal Reserve Board's proposed rules which primarily provide for increased disclosures for credit card contracts. DISCLOSURES ARE HELPFUL BUT THEY ARE NOT ENOUGH.
Disclosures give us more information but they do not eliminate widespread abusive practices which are harming Americans and keeping us trapped in a cycle of debt. Exorbitant fees, tricky billing practices, unfair penalties, charging interest on debt paid, limitless interest rates, universal default provisions, and binding mandatory arbitration clauses are some of the practices that must be made regulated, not merely disclosed.
Our government protects us against unsafe consumer products, toxic substances and harmful actions. Why are we not protected against deceptive lending practices that deplete and destroy our families’ assets?
Disclosing abusive practices does not replace outlawing them. DISCLOSURE is NOT ENOUGH. We need strong legislation to protect us from dangerous loan products.
Thank you for your attention to this important matter.
Your Name
Your Organization
123 Your St.
Yousville, YO 12345
Phone: (123)456-7890
Fax: (123)456-7890x123
p.s.
Your Personal Statement
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To: senator@dodd.senate.gov, senator@shelby.senate.gov, barney.frank@financialservices.house.gov, spencer.bachus@financialservices.house.gov
Subject: Credit Card DISCLOSURE is NOT ENOUGH
Dear Senator Dodd, Senator Shelby, Representative Frank, and Representative Bachus,
I write to you today regarding the Federal Reserve Board's proposed rules which primarily provide for increased disclosures for credit card contracts. DISCLOSURES ARE HELPFUL BUT THEY ARE NOT ENOUGH.
Disclosures give us more information but they do not eliminate widespread abusive practices which are harming Americans and keeping us trapped in a cycle of debt. Exorbitant fees, tricky billing practices, unfair penalties, charging interest on debt paid, limitless interest rates, universal default provisions, and binding mandatory arbitration clauses are some of the practices that must be made regulated, not merely disclosed.
Our government protects us against unsafe consumer products, toxic substances and harmful actions. Why are we not protected against deceptive lending practices that deplete and destroy our families’ assets?
Disclosing abusive practices does not replace outlawing them. DISCLOSURE is NOT ENOUGH. We need strong legislation to protect us from dangerous loan products.
Thank you for your attention to this important matter.
Your Name
Your Organization
123 Your St.
Yousville, YO 12345
Phone: (123)456-7890
Fax: (123)456-7890x123
p.s.
Your Personal Statement
--
Delivered by CitizenSpeak!
Report abuse to abuse@citizenspeak.org [1095]
