Avoid falling prey to corporate loopholes. Check for regulatory violations, document your hardships vigilantly, seek arbitration, and ensure timely paperwork. Defend your credit card claim, don’t become another default statistic.
Author Archives: Howard Gutman
Citibank Credit Card Claims
Citibank breached customer rights by hiking credit card interest rates without proper reevaluation during its post-2008 economic recovery. This violation of the Truth in Lending Act has been flagged by the Bureau of Consumer Financial Protection. Meanwhile, customers can potentially counteract the bank’s claims by documenting hardship, exploring arbitration, or seeking legal advice. Don’t just sit there—fight back!
Consequences of Failing to Reevaluate Interest Rates under the CARD Act
Defying the CARD Act provisions demanding regular review and revamping of credit card interest rates can wreck havoc on financial institutions. Legal penalties and enforcement actions await non-compliant credit card companies. Such negligence also undermines consumer protections, potentially overcharging clients and inflicting financial woes on them. It thus opens a can of worms, marred reputation, financial liabilities, and postpones consumer defense options like arbitration, breach of laws, and disputing charges. In the credit card industry, CARD Act compliance is a gateway to trust and competitiveness. Be warned!
Credit Card Defense 