{"id":194749,"date":"2008-08-21T17:33:00","date_gmt":"2008-08-21T22:33:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/21\/banks-object-to-credit-card-regulation\/"},"modified":"2008-08-21T17:33:00","modified_gmt":"2008-08-21T22:33:00","slug":"banks-object-to-credit-card-regulation","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/21\/banks-object-to-credit-card-regulation\/","title":{"rendered":"Banks Object to Credit Card Regulation"},"content":{"rendered":"<p>There&#8217;s a big surprise, they <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601213&amp;sid=aaa1JxMwNFRM&amp;refer=home\">want to continue to treat their customers like garbage<\/a>.<\/p>\n<p>This bill is pretty mild:<\/p>\n<ul>\n<li>Requires 45 days&#8217; notice of interest rate increases<\/li>\n<li>prohibits companies from changing the terms of the contract at any time for any reason, so called &#8220;Universal Default&#8221;.<\/li>\n<li>Makes issuers mail billing statements 25 days before the due date, instead of the current 14-day minimum.<\/li>\n<li>Require that payments be applied to all balances proportionally, as opposed to the lowest (often introductory) rate first.<\/li>\n<\/ul>\n<p>But even this <span style=\"font-weight: bold;\">very<\/span> weak tea is too much for the banks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There&#8217;s a big surprise, they want to continue to treat their customers like garbage. This bill is pretty mild: Requires 45 days&#8217; notice of interest rate increases prohibits companies from changing the terms of the contract at any time for any reason, so called &#8220;Universal Default&#8221;. Makes issuers mail billing statements 25 days before the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[998,1004,1020,985],"tags":[],"class_list":["post-194749","post","type-post","status-publish","format-standard","hentry","category-congress","category-finance","category-legislation","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194749"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=194749"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194749\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}