Wednesday, June 18, 2008

Universal Default Still Exists

A few years ago Frontline of PBS aired an investigative report on the credit card industry. It revealed some hard truths about how creditcard holders are abused. Here is a video from that report regarding efforts to get reform to protect consumers. It is now 2008 and still nothing has been done. There have been numerous congressional hearings and numerous bills proposed. The creditcard industry is just too powerful. They will continue to be unless we write our congressman and let them know how strongly we feel about it. Do something. Stop using creditcards, and advocate to limit their power in congress.

Watch this video for a peek into the tricks and traps that still exist. The industry leaders still deny that they practice universal default, yet it continues.

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