Hague to charge American Banks

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Hague to charge American Banks soon?

Bank Lobbyist controlling Congress.
Since the Bank's toxic sub-prime paper debacle
not one new regulatory law has been
enacted.

The Banks can still do it all over again.

The banks got $2.7 Trillion dollars
from the Feds. for their misdeeds.
( and the Republicans don't what
to give 1/3 that amount for Americans
to have access to health care. G )

CIT Bank just lost Billions
of the taxpayer funds from the
bail out Congress gave them.

Since Congress is impotent
when it comes to banking regs.
maybe the Hague Courts,
"Crimes Against Humanity"

Caused World Wide Depression.

They did almost bring down
the World Banking community.

While the sub-prime debacle
didn't cripple America, it did
wound us.

10% unemployment for USA.

"American Banks charged
with "Crimes against Humanity"
in the Hague World Court."

Some one should hurry up and
break them up before someone
serves them.

Send the Loan Sharking Bank CEO's
to a Grand Jury.

Can you spell Indictments?

If Congress won't regulate them,

maybe the Justice Dept. can arrest

some of them?


Gerald

Internet Anthropologist Think Tank: Greenspan father of the Sub-prime debacle

.

CIT files bankruptcy, tax payers to loose Billions

CIT's move will wipe out current holders of its common and preferred stock, likely meaning the U.S. government will lose the $2.3 billion it sunk into CIT last year to prop up the ailing company.

SOURCE: NPR

(Jeffrey M. Peek of CIT Group, the major small-business lender now in bankruptcy, received about $100,000 RAISE this year. G)

Related articles by Zemanta

• Goldman gets $1 billion if CIT goes under (money.cnn.com)
• CIT files bankruptcy, tax payers to loose Bilions (tech.bl0x.info)
• Bank of America: $2.2 billion loss (money.cnn.com)
• Program to Buy Bad Assets Nearly in Place, U.S. Says (nytimes.com)
• Hague to charge American Banks (warintel.blogspot.com)

CREDIT CARD CO. :CRIMINALS helping terrorism

Image by guano via Flickr

The Washington Post says federal regulators plan to announce new rules for the credit card industry.

FED REGULATORS ARE IN CREDIT CARD INDUSTRY'S POCKET.

THEY ARE TRYING TO USE BAND AIDS TO FIX ECONOMIC BEHEADINGS.

THE CREDIT CARD INDUSTRY IS A THREAT TO THE GWOT,

ID THEFT IS EPIDEMIC AND THE CREDIT CARD COMPANYS ARE MAKING MONEY OFF

THE CRIME, CHARGES, FEES, INTEREST , AND CHARGES.

THE CREDIT CARD COMPANIES HAVE INCORPORATED IN STATES WITH OUT ANY CONSUMER FRAUD LAWS.

AND TERRORIST ARE FINANCING THE WAR WITH ID THEFT PROCEEDS.

AND THEMSELVES ARE ENGAGING IN CRIMINAL ENTERPRISE WITH USURY CREDIT CARD CHARGES, SOME AS HIGH AS 97%.

THE CREDIT CARD COMPANYS ARE THE NEW MAFIA. g

"The proposed regulations, which could be finalized by year's end, would label as "unfair or deceptive" practices that consumers have long complained about," the paper says. "That includes charging interest on debt that has been repaid and assessing late fees when consumers are not given a reasonable amount of time to make a payment. When different interest rates apply to different balances on one card, companies would be prohibited from applying a payment first to the balance with the lowest rate."

MORE:

Feds seek to curb 'unfair, deceptive' charges for credit cards, overdrafts

Federal regulators are moving ahead with new rules to stop "unfair and deceptive" practices involving credit cards and bank overdraft fees.

The Federal Reserve approved the changes today, a day after the Office of Thrift Supervision and the National Credit Union Administration signed off. As USA TODAY's Kathy Chu explains, the proposal would:

• Bar issuers from raising interest rates on existing debt, except under certain conditions, such as when a promotional rate expires or when a borrower pays 30 days or more late.
• Prohibit issuers from calculating one month of finance charges based on two months' worth of activity, a punitive practice called double-cycle billing.
• Require card issuers to apply monthly payments that exceed the required minimum at least partly to higher-rate card debt. Borrowers often face varying interest rates on credit card debt, for cash advances, balances transferred and purchases.
• Prevent financial institutions from charging checking-account customers a fee for paying an overdraft — unless the customer has had the chance to opt out of this payment.

Read the announcement and the full proposal (pdf) issued yesterday by the Office of Thrift Supervision.

The public will have 75 days to comment, and the regulators expect the rule to be final by the end of the year.

No immediate comment from the American Bankers Association, though ferocious opposition is likely to come.

Here's more from the Wall Street Journal, The New York Times, Washington Post, CNNMoney and the Associated Press.

Keep reading for more specifics.

Read more...

Posted by Michael Winter at 07:17 PM/ET, May 02, 2008 in Money | Permalink | Comments (0)
BUT ALOW 97% INTEREST CHARGES, REGULATORS ARE SHILLS FOR THE American Bankers Association,

g