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Forum Post: NEW CLASS ACTION LAWSUITS today 1) CHASE BANK being sued for more than doubling payments due on credit cards then when consumers balked consumers were forced to pay 17% and higher vs 5% fixed APR promised 2) Homecoming Predatory Lending

Posted 2 years ago on Dec. 5, 2011, 1:49 p.m. EST by FedWallFedWellFedUP (183)
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NEW CLASS ACTION LAWSUITS today 1) CHASE BANK being sued for more than doubling payments due on credit cards then when consumers balked consumers were forced to pay 17% and higher vs 5% fixed APR promised 2) Homecoming Predatory Lending

7 Comments

7 Comments


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[-] 1 points by FrogWithWings (1367) 2 years ago

Link?

[-] 1 points by WarmItUp (301) 2 years ago

Yet another reason to move your money to a local bank or a credit union, they are the ones supporting your local community anyway.

[-] 1 points by DKAtoday (28242) from Coon Rapids, MN 2 years ago

Cut up your credit cards. Most of the 99% can't afford to be charging for goods and services anyway. Stop feeding the Monster.

[-] 1 points by cmt (1195) from Tolland, CT 2 years ago

I love my credit union. Since I prefer the modestly better protections of credit vs. debit cards, my credit card is one that allows me to see all charges before payment is due, and can be set to be paid automatically from checking at the end of the grace period.

It is a delayed debit, after I verify the bill. It prevents any problem with lost bills or being away when the grace period ends. Free checking with interest as well.

[-] 1 points by DKAtoday (28242) from Coon Rapids, MN 2 years ago

Yes non-profits ( credit unions ) are much better then banks or other corporate credit. But we need to stop the cycle of borrowing for everyday needs. It's way to easy to be caught with out sufficient funds due to emergency expenses.

Also: does your credit union issue it's own card or is it a credit union visa or master card or etc. ?

[-] 1 points by cmt (1195) from Tolland, CT 2 years ago

It's a credit union visa.

BTW, the only debt I have is the card until the day it's paid. Then - zip. No mortgage, no car loan, no financial servitude.

It's convenient to have a number of automatic payments made with the card, as well as buying stock for a micro business and odds and ends on line, but it is not allowed to become a trap.

I realize that the mega-corporation Visa rakes off a percentage on my purchases, but this is the best I've been able to find. For gas, groceries, day-to-day, I use cash.

[-] 1 points by FedWallFedWellFedUP (183) 2 years ago

and these banks were bailed out with taxpayer money!