Las Vegas, NV Dear FRONTLINE, Your report, which I just watched tonight, was very disturbing because it was so unbalanced.Yes, I will agree that credit card businesses position themselves to make maximum profit by selling their credit card services.If I choose to make a deal with the devil, I know that I'm getting involved in Dave Sucsy Lubbock, Texas Dear FRONTLINE, I am about to receive my "first (secured) credit card". Now at 46 years old, I have learned that I am not the best manager of my money.So my partner will help me to control my use of the card.Dugan as Comptroller of the Currency (August 19, 2005; p. Judge Crater Flushing, NY Dear FRONTLINE, Fantastic show! Not only are the banks still charging uncapped interest, late fees and all kinds of other fees; they continue to mail out credit card and balance transfer offers with all your personal information on them.A4), the article indicates Dugan's view, that "bank fees finance its [OCC] 9 million dollar budget, not taxpayer money." Sole source funding from the industry that it regulates. The solution is simple: the government needs to rewind 15 years to fair interest rates and fees with caps.We need a grassroots movement to force card issuers to stop cheating consumers.Joe Douglas Anchorage, Alaska Dear FRONTLINE, I use to have credit cards a few years ago and I got into trouble with them.
I complained that MBNA put in a 24 hour extra delay in crediting Internet payments, something no other credit card company did for a weekday Internet payment before PM. How can any credit card holder expect due process from a Federal agency that acts as a paid adjunct of the banking companies it regulates, in possible violation of the Tumey decision (the later Dugan decision restricted the findings in Tumey v. The answer is you don't get due process from the OCC, just lies from their friendly white-haired PR spokesperson.No problem, according to an MBNA vice president, so no problem for the OCC, the national banks' lapdog. Judge Crater Flushing, NY (The last time I used my real name, in my letter to the OCC, my MBNA rate jumped to 29%.In a Wall Street Journal article on the appointment of John C. MBNA was in the process of selling itself to Bank of America, so my complaint may have riled someone at MBNA).I was shocked to learn that the OCC did not include the consumer as the number one reason for their existence.The institutions practices come across as very shady.But what is really alarming and far more irresponsible is your lopsided reporting of the whole issue.At no time did you explain how the consumer has the ultimate power in this issue, what that power is, and how to use it.The biggest issue revealed in this story is the complicity of the federal government in allowing abusive practices by credit card issuers, including the failure of the OCC (Office of Comptroller of Currency) to prohibit unfair practices and the willingness of Congress to pass legislation which benefits card issuers.When I saw Eliot Spitzer being interviewed, it made me wonder if the card issuers and the federal government were somehow involved in the disclosure of his visits with prostitutes.Also my other half went through a similar situation with credit cards and he will not have them ever again either. We also got tired of being riped off by the credit card industry.We send all offers from credit card companies with a note telling them we won't pay there high fees and interest and do not send any more offers and they don't.