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 EntryNo: 669
 Date: Wednesday
03:57 PM
20.05.2009
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WE WON! Credit card curbs a done deal!!!!!!!!!!!!!!!!!!!!!!

Body: Credit card curbs a done deal

Over bank industry objections, House passes bill that curtails fees and rate hikes. Obama is expected to sign it within days.

By Jennifer Liberto, CNNMoney.com senior writer
Last Updated: May 20, 2009: 2:45 PM ET

WASHINGTON (CNNMoney.com) -- Congress on Wednesday sent to President Obama a bill that makes it tougher for credit card issuers to raise fees and interest rates.

The move caps a years-long crusade by consumer groups and Democrats to rein in what they say are abusive practices that prey on consumers. The approval came despite strong objections by banking industry advocates, who say it could result in tightened credit to Americans.

The House voted 361-64 in favor and also approved by 279-147 an unrelated measure allowing people to carry guns into national parks.

The Senate passed the credit card bill, along with the unrelated gun measure, by a 90-5 vote on Tuesday.

The bill is expected to be signed by President Obama as soon as Friday.

The credit card rules would take effect in February. The bill is moderately tougher on banks and card issuers than are new Federal Reserve rules set to take effect July 2010.

The legislation make it harder for people under age 21 to get credit cards. It would also ban rate hikes unless a consumer is more than 60 days late - and then restore the previous rate after six months if minimum payments are made.

"Over the past three years as I have labored on this bill, the need to stop credit
card abuses has become ever more apparent with every passing billing cycle," said the bill's House sponsor, Rep. Carolyn Maloney, D-N.Y on Tuesday.

The bill marks a major loss for the banking industry.

Financial services representatives have decried the bill, saying it would exacerbate the credit crisis and force banks to drop some risky credit card holders. The American Bankers Association said the legislation would prompt banks to reinstate annual fees and higher interest rates for all card holders, an outcome that would penalize those with good credit who pay their bills on time.

Some House members voiced those concerns Wednesday.

"At a time when Americans are struggling to pay their mortgages, groceries and health care costs, why would we want to make credit more expensive and less available?" said Rep. Jeb Hensarling, R-Texas.

The credit card legislation has been a long work in progress. The House passed a bill in 2008 and again earlier this year. The legislation, which stalled in past years, was propelled by public outrage and pressure by President Obama.

Maloney added that she thought it was "unfortunate" that the measure to allow concealed weapons in national parks remained as part of the credit card measure. She and several other Democrats voted against the gun measure.

In recent months, credit card companies have been raising fees and interest rates. From November 2008 to February 2009, rates increased from an average to 13.08% from 12.02%, according to a Federal Reserve Board report.

At the same time, more people are not able to make their credit cards payments and are walking away from debt, according to a Federal Reserve report.

However, Treasury Secretary Tim Geithner said Monday he was not concerned about a consumer debt "bubble."

"Americans are going to be reducing how much they borrow, improving their balance sheets, saving more," he said. "Banks are still going to have losses they're going to have to adjust to. And that's what's going to make the process of repair here longer. . .But that's a necessary, healthy process of adjustment for us to go through."

First Published: May 20, 2009: 2:18 PM ET
http://money.cnn.com/2009/05 /20/news/economy/credit_card s/index.htm?cnn=yes

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 EntryNo: 668
 Date: Wednesday
02:10 PM
20.05.2009
Mozilla/4.0 (compatible; MSIE 8.0; Windows NT 5.1; Trident/4.0; MSDigitalLocker; .NET CLR 1.1.4322; .NET CLR 2.0.50727; .NET CLR 3.0.04506.30; .NET CLR 3.0.04506.648; .NET CLR 3.0.4506.2152; .NET CLR 3.5.30729) Karen Amador
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Paid in advance and they charged me late fees and tell me I'm not allowed to pay in advance and that I owe $141 in late fees and am a month behind. I have supplied them with them written notice of each bill payment and asked for correction. They are rude and of no help.
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 EntryNo: 667
 Date: Tuesday
08:28 PM
19.05.2009
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 EntryNo: 666
 Date: Monday
05:05 PM
18.05.2009
Mozilla/4.0 (compatible; MSIE 8.0; Windows NT 5.1; Trident/4.0; .NET CLR 1.1.4322) steve holder
Internet Explorer United States of America
Wells Fargo is receiving free money that our children's children will be paying off for a long time. W.F. Then steals from their customers. Danger! Preditory! bad business! If you are having a hard time trying to feed your family,W.F will be there to steal from you. If you lost your income because of the current financial hardship it's opportunity for W.F. to steal more. I have paid W.F hundreds of thousands of dollars in fees, inflated interest rates and more bogus fees.Then slammed with the death blow of taking every cent cash from my account.Inhumane!
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 EntryNo: 665
 Date: Monday
04:37 PM
18.05.2009
Mozilla/4.0 (compatible; MSIE 8.0; Windows NT 5.1; Trident/4.0; .NET CLR 1.1.4322) steve holder
Internet Explorer United States of America
W.F. laid in wait until I had made a substantial deposit (12,000.00) deposit to my business checking before launching their $14,448.00 debit that finished me and closed my business. No certified mail,No court order,no levee,no heart. I was making progress to bring my bus. line of credit account current. We are an HVAC contractor in central Ca. We have sustained 78% decrease in business income over a 4 year period. We need to pull together in community.not chop the heads off our wounded and then clean their pockets ! Nice job Wells Fargo
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 EntryNo: 664
 Date: Monday
04:34 PM
18.05.2009
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I was searching the internet to see if Wells Fargo has a complaint dept. and found this website. Of course Wells Fargo doesnt list their complaint dept on their website. As a business owner I get several checks a year from customers that have accounts with them. When I try and cash these checks I have to show 2 forms of ID give my finger print and THEY MUST BE ABLE TO REACH THE CUSTOMER BY PHONE TO VERIFY THAT THEY WROTE ME THE CHECK. If they cant get ahold of the person who wrote me the check they refusse to cash it and make me feel Im a criminal.
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 EntryNo: 663
 Date: Monday
12:37 PM
18.05.2009
Mozilla/4.0 (compatible; MSIE 8.0; Windows NT 6.0; WOW64; Trident/4.0; GTB6; Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1) ; SLCC1; .NET CLR 2.0.50727; Media Center PC 5.0; .NET CLR 1.1.4322; OfficeLiveConnector.1.3; OfficeLivePatch.0.0; .NET CL L Anderson
Internet Explorer United States of America
I have a small business and have banked with Wells for over 25 years. I deposit a check on Sat and I have a receipt for funds available on the following Mon. Guess what, NOT. I am trying to down load copies of our checks but I can't do that, their site is upgrading. I have had it with Wells
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 EntryNo: 662
 Date: Sunday
07:59 PM
17.05.2009
Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 6.0; GTB5; FBSMTWB; SLCC1; .NET CLR 2.0.50727; Media Center PC 5.0; .NET CLR 3.0.04506) Tracy
Internet Explorer United States of America
im so pissed, I just got off the phone with a wells fargo rep because i couldnt pay my car payment, this -BADWORD- -BADWORD- started to threaten me!! saying she is going to take my car because im 1 day late, she said to sell some of my posesstions to pay theam. what a -BADWORD-. im thinking of filing Bank rupcey and say -BADWORD- theam all, Im so tired of everytime I turn around people want money from me, I lost my job May 1 2009 and cant pay this months payment, I did find a job but cant start till a week from tuesday, I told her Id make the payment up the next 3 months and she said it wasnt exceptble can they call u on a sunday and can they threaten u like that? Id like to know
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 EntryNo: 661
 Date: Thursday
10:14 PM
14.05.2009
Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 6.0; GTB6; SLCC1; .NET CLR 2.0.50727; Media Center PC 5.0; .NET CLR 3.0.04506) Scott H.
Internet Explorer United States of America
I had bought a house and car in January and March, respectively, and had 10,400 credit limit on my Wells Fargo Visa...today it was reduced to 750...how the -BADWORD- do you go that bad, the inept customer service told me about so-called delinquient record (how was I able to buy a house and car with deliquencies???) I closed my account, and soon going to take my business elsewhere. WELLS FARGO -BADWORD- SUCKS DONKEY BALLS!
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 EntryNo: 660
 Date: Thursday
03:00 PM
14.05.2009
Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1; Tablet PC 1.7; .NET CLR 1.0.3705; .NET CLR 1.1.4322; .NET CLR 2.0.50727; .NET CLR 3.0.4506.2152; .NET CLR 3.5.30729) Jim
Internet Explorer United States of America
I needed a money order to send to a guy in oklahoma for some custom steel work I was having done, when I went to the local branch I asked how much is the charge for a $700 money order, got the deer in the headlights look and was referred to the branch manager, she immediately wanted to know my account number. I informed her that she would have to use my mortgage account info as I do not bank with them, she still refused saying wells fargo mortgage is not the same as well fargo financial, ended up waisting over 1.5 hours of my time to set up a BS account, I told her and the personal banker I had to mess with that this is the stupidist thing I have ever heard of, 150 years ago I could walk into a bank in New York, get a money order and have it be good five weeks later when I got to california, this is a cornerstone of their business, apparently neither of them had any history lesson about the company they work for, needless to say I am in the process of getting a new mortgage loan from a credit union. I pray they will call me and ask me why they lost my account, got the stupid hookers name written down and everything
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