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SFCU and the Credit Card Act
We're here for you! -
11/02/2009
Happy Monday Morning! I hope you all had a great weekend! Since the passage of the Credit Card Act we have seen a rush of card issuers sending out disclosures to raise rates, lower limits and add new card fees! None of which are very consumer friendly which was the intent of the law. The intent of the law was to remove credit card practices deemed unfair or deceptive by the Federal Reserve. However, what HAS happened is exactly the opposite. The Today Show had a segment on this craziness. Here is the link: http://today.msnbc.msn.com/id/26184891/vp/33478122#33478122 The good news in all of this is your credit union is still the best place to come! We have your best interests in mind and we strive to always do the right thing. Both what is fair for our member and the credit union. It's great to see the credit union industry given credit for being consumer friendly. It was in hard times like these that credit unions were created. The philosophy of People Helping People is still alive and well.
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