The Geek Professor » Customer Abuse http://www.thegeekprofessor.com Making tech easy for everyone Thu, 02 Feb 2012 01:11:53 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Every Bank Abuses You With Credit http://www.thegeekprofessor.com/every-bank-abuses-you-with-credit/ http://www.thegeekprofessor.com/every-bank-abuses-you-with-credit/#comments Fri, 30 Oct 2009 11:31:22 +0000 Jeremy http://www.thegeekprofessor.com/?p=863 If you suspected all the banks were greedy jerks, it looks like now there's some evidence to support that theory. Every single bank tested currently engages in practices that would be against the law if the new credit protection law were already in effect.

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One hundred percent of credit cards offered online by the leading bank card issuers continue to include practices that will be outlawed once legislation passed in May takes effect next year.

What this hardly surprising bit of news is saying is that every single bank, because they've been allowed to thus far, uses abusive and deceptive credit practices. It just boggles my mind when people say the market can "regulate itself". I wonder why several hundred years of abuses isn't enough evidence of just how wrong that is.

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