Dodd warns banks
June 5, 2009 | alternatives, federal legislation, industry | Comments (1)The chairman of the Senate Banking Committee, Chris Dodd (D-CT) said this yesterday:
“While we just scored a tremendous victory for consumers against unfair and abusive credit card practices, we’re now seeing that a few banks have applied some of the same unscrupulous practices to bank accounts,” he said.
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“At a time when so many families are already struggling to make ends meet, automatic overdraft charges and other excessive fees are forcing consumers deeper into debt,” said Dodd, the author in the Senate of recently adopted legislation curbing high credit card fees and sudden interest rate increases.
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Dodd might want to be worried about one of his best buddies, Angelo Mozilla former Chairman of Countrywide Mortgage being indicted yesterday.