MAHONEY HR627/SCHUMER S.235 FALL SHORT OF CAPPING INTEREST RATES

Congress-women Carolyn Mahoney #HR627/Schumer S.235 Credit Card legislation falls short in many ways, most importantly is a CAP on the INTEREST CHARGED. I faxed the letter below to Congress women Mahoney with my thoughts:
Congress-Women Carolyn Mahoney (14th) NY
202-225-4709

Hello Ms. Mahoney:

I attempted to email you, but your website would not allow me too.

I don’t live in your district.

I have copied and pasted my message below:


YOUR BILL HR627/ S.235 SCHUMER

Your bill doesn't go far enough.
• We need a CREDIT CARD INTEREST RATE CAP OF 10% on all credit cards. A cap on late fees, surcharges to not more than $10.00 per payment period.
• We need a 14-day window to pay the bill beyond the actual due date
• We need to restrict credit card offering to those with a FICO score under 600 to not more than $300.00 to $600.00 until the individuals score rises above FICO 725.
• We need to eliminate the $15.00 to $30.00 charge when a person phones in a payment. We need to eliminate the $39.00 late fee, that is charged and much more.

YOUR BILL IS SHORT ON MANY POINTS. I NOTICED YOU COLLECT BIG BUCKS FROM THE REAL ESTATE, FINANCIAL AND INSURANCE LOBBY.
YOUR BILL APPEARS TO BE PRO CREDIT INDUSTRY BILL ALONG WITH SCHUMERS THAT WILL BE WATERED DOWN EVEN FURTHER.

I have 1-million plus Fellow Tweets spreading the word globally to stop using credit cards by Capital One, CITI, and others. They will know about your bill and S.235 in moments. 10:38 AM.

Joe

______

What is your thoughts. You can Fax Cong. Mahoney at: 202-225-4709
PASS THE WORD TO YOUR FELLOW TWEETS. STOP THE LEGISLATION ABOVE. IT IS PRO-BANKING INDUSTRY. IT ONLY SLAPS THEIR HANDS, IT DOESN'T RESULT IN REAL CHANGE.
Go Phillies

DOES ANYONE KNOW OF BILL S.392?

Senator Robert Menendez has introduced Senate Bill S.392 "The Credit Reform Act of 2009." I could not find any specifics in the outline of the Bill, when I visited govtracks.

It's time to cap interest rates on Credit Cards to 10%.
Don not issue credit cards to anyone with a FICO score below 600 and if a card holder has limited FICO score, limit credit line to $600.00 with a cap of 10% on the balance of their credit card. Limit all fees total to not more than $10.00 per statement.

End the bait and switch tactics of the credit card issuers and banks.

Pass the word for the MONTH OF MAY, BOYCOTT YOUR CREDIT CARD COMPANY. USE CASH ALL MONTH OR USE PAYPAL OR YOUR DEBIT CARD. SPREAD THE WORD THAT MAY IS BOYCOTT CREDIT CARD MONTH. LETS START THE MOVEMENT RIGHT HERE IN SOUTHERN NJ. LETS DO IT BEGINNING ON FRIDAY MAY 1,2009.

Go Phillies

Senator Chris Dodd Darling of Wall Street

I have taken excerpts from an article written by Andrew Miga of the Associated Press from his headline: "Dodd taps Wall Street for re-election."
I have added my own opinion along with the excerpts from the Associated Press story.

The Associated Press reported today by Writer Andrew Miga that "Wealthy Wall Street Executives may be outcasts to some Americans,but not to Democratic Senator Chris Dodd." ...The Senator is Chairman of the Senate Banking Committee and is begging for dollars. He is in a tight race in his home state of Connecticut.

Senator Dodd a five term Senator, has raised One-Million Dollars;$100,000 in the first three months of this year from Political Action Committees (PACS) from Financial,Insurance,and the Real Estate Organizations. Some of his donors include:
American Insurance Association, Mortgage Bankers Association, Vanguard, Oppenheimer Funds, Charles Schwab, The Real Estate Roundtable, and Ameriprise Financial and I am sure more PACS will donate. Dodd Raised $609,000 from individuals from companies Fidelity group, Citigroup, Citizens Financial,among the larger donors.

From Residents of his home State of Connecticut he raised a meager $4,250.00! WOW!,what does that say about Chris Dodd at home. He is the guy who will block any effort to limit credit card interest rates to 10% nationally, he is the Senator who will block pro-consumer efforts to eliminate costly ripoff fees and surcharges on your credit cards.

To all those who care, its time for Senator Chris Dodd to retire, even if it means a Republican will be elected in his place.
Contact the Senator and tell him you want Credit Interest Rates capped and limited to 10%. No surcharges on bills and no over the limit fees, and limit late fees to not more than $10.00 per payment period, along with a 7 to 14 day payment grace period for all credit card holders and users.

Remember CASH IS KING, USE PAYPAL, if your supplier doesn't use paypal, suggest they begin using Paypal, or buy from another supplier.

Go Phillies

LET'S VACATION ON THE BEACHES OF CUBA, YEH BABY!

It's about time we begin the process of bringing democracy and capitalism to the people of Cuba. While President Obama is literally offering the Carrot and Stick approach to opening up a dialogue with the Cuban leadership by allowing travel for only "Cuban-Americans", I look forward to the day (sooner than later) when I can travel to Cuba and vacation on the beaches.

Many who are opposed claim "Human rights violations", For those who are complaining about those violations, I want to know why we are Purchasing products and trading with China, Russia, Venezuela, Chile, Ecuador and many other nations who are violating human rights.

China on a daily basis is violating the rights of Tibetans, and Chinese brn intellectuals who are seeking 100% democracy and freedom, yet many global corporations based in the USA, have factories and many other corporations import from China.

To those who complain about opening the doors for trade and travel to Cuba, please take an inventory of the goods in your home and the apparel you wear, read the country of origin label, ask yourself how can you wear clothes or watch television or use your computer and printer, since they are all made in China.

Let's swing open the doors to CUBA, so the cigars will drop in price from $20.00 for a Cohiba to $2.00 each.

Go Phillies.