Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats

Exclusive to OpEdNews:
OpEdNews Op Eds

Time to Put a Big Leash on Bank and Credit Card Company Penalties

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; , Add Tags Add to My Group(s)

View Ratings | Rate It

Become a Fan
  (281 fans)

It's time to get the new congress to put a big leash on banks and credit cards. They are totally out of control, charging outrageous fees for late charges, for bounced checks... and raising interest rates.

An acquaintance got a call from her credit card company. Someone in Europe had attempted, twice, to make purchases. They advised her to cancel her credit card and start a new account. She did. They raised the interest rate on her account to close to 30%. This is criminal. Every day, if people make on late payment, the thieves in the credit card industry will raise interest rates to beyond 30%.

Congress should a stop to all of this, while cancelling the recent bankruptcy bill that was passed as a gift to credit card companies last year. This should be very high priority, along with vote technology cleanup, habeus corpus reinstatement and universal health care.

OK. I confess. I opened an account with Bonton last month to take advantage of some deep discount sales on clothing. They sent me a bill and my mail got lost for a few days. (With two kids in the house, this stuff happens.) I went to call to take care of it and found that there was a $29 charge for the late fee. The amount due-- $10. This is outrageous. These companies are rogue operators who think they can get away with this. We have to tell our legislators that it is no longer acceptable for them to allow credit card companies and banks to rape and pillage, continually screwing their constituents. No... congressperson....... I do not accept this behavior and I expect YOU to do something about it... sooner, not later.

A few months ago, I made a minor mistake on a calculation and overdrew one checking account by about $5.00

That set into motion a cascade of charges-- and after a week, that one charge ended up producing charges of over $100-- all because of the money that was deducted from the first charge. I have a relationship with my bank and knew to go in to fight the charges... and they credited back almost all of them.

But my ex is not so bank savvy. She made a mistake that caused a charge which led to more charges, which caused bounced checks and before she knew it, she had $300 in penalty charges. It doesn't take much at $35 each, if you've written a batch of small checks for purchases and bills.

These big charges are outrageous and do not in any way reflect the costs to the banks. They are predatory profits. It is up to congress to stop them.


Take action -- click here to contact your local newspaper or congress people:
Put A Big Leash on Banks and Credit Card Companies

Click here to see the most recent messages sent to congressional reps and local newspapers

Rob Kall is executive editor, publisher and website architect of, Host of the Rob Kall Bottom Up Radio Show (WNJC 1360 AM), and publisher of, President of Futurehealth, Inc, and an inventor . He is also published regularly on the

Listen to over 200 of Rob's Podcast interviews here.

Rob is, with the first media winner of the Pillar Award for supporting Whistleblowers and the first amendment.

With his experience as architect and founder of a technorati top 100 blog, he is also a new media / social media consultant and trainer for corporations, non-profits, entrepreneurs and authors.

Rob is a frequent Speaker on the bottom-up revolution, politics, The art, science and power of story, heroes and the hero's journey and Positive Psychology. He is a campaign consultant specializing in tapping the power of stories for issue positioning, stump speeches and debates, and optimizing tapping the power of new media. Watch me speaking on Bottom up economics at the Occupy G8 Economic Summit, here.

See more Rob Kall articles here and, older ones, here.

To learn more about Rob and, check out A Voice For Truth - ROB KALL | OM Times Magazine and this article. For Rob's work in non-political realms mostly before 2000, see his C.V..

And here's a one hour radio interview where I was a guest- on Envision This, on 10/23/13. And here is the transcript. 

And Rob's quotes are here.

To watch me on youtube, having a lively conversation with John Conyers, former Chair of the House Judiciary committee, click here Now, wouldn't you like to see me on the political news shows, representing progressives. If so, tell your favorite shows to bring me on and refer them to this youtube video.

Rob's radio show, The Rob Kall Bottom Up Radio Show, runs 9-10 PM EST Wednesday evenings, on AM 1360, WNJC and is archived at Or listen to it streaming, live at

Rob also hosted a health/mind/body/heart/spirit radio show-- the Rob Kall Futurehealth radio show. Check out podcasts from it at

Follow me on Twitter

A few declarations.

-My articles express my personal opinion, not the opinion of this website.

Press coverage in the Wall Street Journal: Party's Left Pushes for a Seat at the Table

Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Follow Me on Twitter

Contact Author Contact Editor View Authors' Articles
Related Topic(s): ; , Add Tags

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

A Conspiracy Conspiracy Theory

Terrifying Video: "I Don't Need a Warrant, Ma'am, Under Federal Law"

Cindy Sheehan Bugged in Denver

Ray McGovern Discusses Brutal Arrest at Secretary Clinton's Internet Freedom Speech

Libertarian Legacy? Ron Paul's Campaign Manager, 49, Dies Uninsured, Of Pneumonia, Leaving family $400,000 Debt

Interview: McCain Fellow Hanoi Hilton POW & Naval Academy Dorm-mate; Why He Won't Vote For McCain


The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 2 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

Giving someone a new card because their other card... by Alessandro Machi on Sunday, Feb 18, 2007 at 9:17:48 PM
Giving someone a new card because their other card... by Alessandro Machi on Sunday, Feb 18, 2007 at 9:20:02 PM