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House to Vote on Credit Cardholders’ Bill of Rights Next Week

By pdelatorre - Sep 19th, 2008 at 12:43 pm EDT

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Tags: activism, Congress, credit cards, student debt

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Great news – we have heard from a very good source that the House of Representatives will be voting on the Credit Card Holders’ Bill of Rights sometime early next week! The credit card industry has been lobbying hard to kill this legislation behind the scenes, and so the support of strong consumer protections for borrowers by Campus Progress readers and activists have shown to Congress so far has been crucial.

We can’t stop now – we need to keep up the pressure until the minute that Congress votes. Check out the action alert below for more information, and to take action:

Tell Congress to Protect Credit Cardholders!

With the rising costs of college, gasoline, food, health care, and other expenses, credit cards are becoming the “safety net” for an entire generation. Unfortunately, credit card companies are using unfair and even predatory practices to increase their profits at the expense of the financially vulnerable or inexperienced. Luckily, the House Financial Services Committee has recently passed the Credit Cardholder’s Bill of Rights, which will create several important protections for borrowers, and the bill will be voted on by the full House of Representatives next week, so take action now!

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Facts of issue...

By Payday Loan Advocate Sep 27th 2008 at 12:42 am EDT (Updated Sep 27th 2008 at 12:42 am EDT)

If you are erroneous on the facts of an issue, it can create an unsteady repercussion, predominantly on occasion when you take a course of action based on deceiving information. The positives and negatives of cash advances, and what the future holds for the business often can suffer from this. Some politicians from both parties are making an effort to pass legislation that would confine or take away from your capability to get a payday loan. Sadly, some of these politicians have accomplished passing their legislation. Some politicians have even gone as far as banning the industry all together. Many of these laws are based on the supposition that payday lenders are run by the same principles as illegal loan sharks. Please don’t be mislead by the facts, and inform yourself, family, and friends on the right to financial liberty.
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Re: Facts of issue...

By ycmmpprtp Nov 19th 2008 at 3:08 am EST (Updated Nov 19th 2008 at 3:08 am EST)

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Re: Facts of issue...

By ykuanczfu Nov 19th 2008 at 3:26 pm EST (Updated Nov 19th 2008 at 3:26 pm EST)

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House Bill 545 controversy

By Payday Loan Advocate Oct 17th 2008 at 2:21 am EDT (Updated Oct 17th 2008 at 2:21 am EDT)

The current Ohio Governor Ted Strickland is attempting to persuade Ohio citizens to vote YES on House Bill 545. House Bill 545 was enacted without the voice of the people earlier in the year. If approved, the bill would limit the annual interest rates charged by no fax payday loan companies to 36 percent. In other words, for every $100 that a lender issues to a customer, the lender would make just over a dollar in profit. Assuming that no business can possibly survive by making just over a dollar per transaction, House Bill 545 would drive the entire payday loan industry out of Ohio. According to his campaign promises, democratic presidential candidate Barack Obama is trying to implement the same rate cap across the United States. Should Obama be elected our next president, chances are the bill will pass. Without access to payday loans or cash advances, people will find it even harder to make ends meet in tough times. If people receive smaller paychecks than they’re accustomed to or if life throws them one of its little surprises, hitting financial rock bottom is nearly unavoidable. Such bills remind us of the importance of voting and having our voices heard.

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Anti-Payday Loan...

By Payday Loan Advocate Oct 28th 2008 at 12:55 am EDT (Updated Oct 28th 2008 at 12:55 am EDT)

While he’s made no bones about his opposition to the payday loan and cash advance industries, Ohio Governor Ted Strickland has a new friend that he’s fighting on behalf of: the state’s community of gamblers. In effect, as of August 1, 2008, but being contested by the people on the November 4 state ballot, Strickland says this, a bill that would add Keno to the state’s lottery games, is a valiant effort to raise money for their public schools. The Governor, who is also an ordained Methodist minister, has been taking deep criticisms from people from all walks of life, including members of his own parish. Strickland has defended his views on several occasions, claiming that, despite his opposition to the expansion of gaming, this one’s best for the common good of our children. Another part of this proposal would modify the state constitution to authorize the construction of a $600 million casino near Dayton. With these ideas in mind, this should give the average reader a vivid picture of the state of Ohio’s economy. Governor Strickland is telling his citizens to go out and gamble away their rent or mortgage payments for the sake of their children’s futures. But, when they’ve found themselves short on the funds they saved to buy their children clothes and supplies, Strickland says it’s NOT okay to get temporary funds from a payday lender to accomplish that. Seriously, I don’t see any sense in that. Strickland designed to highlight their opposition to a November ballot push from payday lenders hoping to repeal a new law capping at 28 percent what they can charge their customers for the short-term, high-interest loans. Strickland said the payday loans that amount to 391 annual percent interest rates are "outrageous and unacceptable" and said the legislation limiting the rates to 28 percent was a "reform" not a "ban.

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Coming Holiday Season..

By Lisa P Nov 15th 2008 at 3:42 am EST (Updated Nov 15th 2008 at 3:42 am EST)

The research firm NPD Group recently, in an Engadget report, stated that the iPhone 3G has overtaken the lead in cellular phone sales, dropping the Motorola RAZR out of the top slot for the first time in almost 10 years. The shift would indicate that American consumers are looking for a phone that offers more features than just a handset for making phone calls. The recent massive advertising campaign hasn’t hurt Apple either, even if cell phone sales have actually dropped 15 percent since Christmas 2007. Apple still has to be happy with their position as the trendsetter in gadget style and taste. Eventually, America’s cell phone choices will seem far more full featured than what the Asian market already has access to. However, when it comes to short term payday cash loans, America’s choices are broad. The coming Holiday season would be much money and time to spend with family. The economic crunch that is on combined with the looming Christmas season will force some people will to look for a little help between paydays. If taken with care and responsibility, payday cash can be a useful tool, like an iPhone. There’s nothing wrong to spend money for occasional enjoyment.

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