Comments on: Credit Card Regulation Looming http://www.visioncredit.org/credit-card-regulation-looming/ Your Nonprofit Credit Counseling Organization Mon, 06 Feb 2012 15:50:02 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Kenneth Long http://www.visioncredit.org/credit-card-regulation-looming/comment-page-1/#comment-3456 Kenneth Long Tue, 28 Apr 2009 15:29:32 +0000 http://www.visioncredit.org/?p=1256#comment-3456 While there are several proposed changes being considered, it is expected that any additional legislation would be watered down from what these lawmakers have proposed. If no action is taken, then consumers will have to wait until the new Federal Reserve regulations go into effect in July 2010. While there are several proposed changes being considered, it is expected that any additional legislation would be watered down from what these lawmakers have proposed. If no action is taken, then consumers will have to wait until the new Federal Reserve regulations go into effect in July 2010.

]]> By: Alan Chokov http://www.visioncredit.org/credit-card-regulation-looming/comment-page-1/#comment-3447 Alan Chokov Tue, 28 Apr 2009 11:55:20 +0000 http://www.visioncredit.org/?p=1256#comment-3447 Why not establish a "financial literacy" component that would require a basic knowledge of credit card disclosure as it applies to the true cost of not paying your credit card balances in full, when they become due. Create counseling efforts to educate the consumer in understanding the "credit game" and how it affects their lives. Credit card interest rates are not dictated by usury laws and have become unbearable for everyone except those who issue them. Alan Chokov is the Founder/CEO of efinanceportal.com, an interactive, multicultural, financial, business & educational portal that provides a platform for financial literacy and the professionals who support this effort. Why not establish a “financial literacy” component that would require a basic knowledge of credit card disclosure as it applies to the true cost of not paying your credit card balances in full, when they become due. Create counseling efforts to educate the consumer in understanding the “credit game” and how it affects their lives.

Credit card interest rates are not dictated by usury laws and have become unbearable for everyone except those who issue them.

Alan Chokov is the Founder/CEO of efinanceportal.com, an interactive, multicultural, financial, business & educational portal that provides a platform for financial literacy and the professionals who support this effort.

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