Seeking Alpha

The CFPB proposes reversing a ban on high credit card sign-up fees that caps the amount an...

The CFPB proposes reversing a ban on high credit card sign-up fees that caps the amount an issuer can charge at 25% of the card’s limit during its first year of use. The agency appears to be backing down from an ongoing legal battle over ways issuers sidestep the current regulation.
From other sites
Comments (2)
  • steveto
    , contributor
    Comments (216) | Send Message
     
    They should be capped at 19% and all those in major financial trouble should have their cards removed and interest rates down to 2%.

     

    Institutions don't quite understand that they are just screwing themselves over by sticking it to financially unhealthy individuals with high credit card balances. 1. They don't deserve and card, but they are actually better off defaulting than trying to pay an endless debt, therefore, in the end, the card company loses because they won't get their full balance back.

     

    Banks and card companies already nickel and dime us. It's time for them to give some people a break and in exchange, be able to afford to pay for rent, food etc. Leading to an improved way of life and economy which inherently improves the banks and card company's position.
    13 Apr 2012, 10:05 AM Reply Like
  • jw4golf
    , contributor
    Comments (340) | Send Message
     
    If you are so generous with others money, why don't you subsidize those in trouble. If you don't like credit cards/banks then stay away from them. no one nickles and dimes us like the government, are they giving us a break? wow, might need to retake personal responsibility 101. good luck with your movement
    13 Apr 2012, 10:12 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector