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Angry Consumers Flood Federal Reserve Board with Complaints on Credit Card Practices; Over 8,200 Consumers Tell of Abuses
By:
Sbyrnes
On: 2008-07-01
On: 2008-07-01
(Boston, MA—July 1, 2008) More than 8,200 angry citizens have flooded the Federal Reserve Board’s inbox since it invited personal comments regarding a proposed new rule to end "Unfair or Deceptive Acts or Practices." Sarah Byrnes, Campaign Manager of Americans for Fairness in Lending (AFFIL), released the following statement on this exceptional outpouring of consumers’ support for regulation and their frustration over unfair credit card practices and overdraft loan abuses:
"American consumers are mad as hell and they’re not taking it anymore. Especially when it comes to credit card companies and their abusive practices."