Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Editorial For Valentines Day break up with a bank
MADISON, Wis. (2/16/10)--For Valentine’s Day, consumers should break up with their banks, according to the Madison, Wis.-based Center for Media and Democracy. An editorial in Saturday’s Madison, Wis.-based Capital Times said the center hosts the Bankster USA Project “which is challenging both the abuses of big banks and the bailouts of those institutions by the federal government.” Banks have hamstrung American consumers with $700 billion in credit card debt because of exorbitant interest rates charged by the big four U.S. banks that issue 90% of all credit cards: Bank of America, Chase, Citi and Wells Fargo, the newspaper said. On average, big-bank issued credit cards charge interest rates that are 20% higher than those charged for local bank and credit union cards, the paper added. The paper adds: “This Valentine’s Day is the perfect time to end your abusive relationship with big banks that have a stranglehold on our country,” Bankster said. “They’ve been lying, gambling, cheating and they seem to think they can just keep getting away with it forever. Now’s the time to tell them you want to bank with someone who actually cares about you and whose interest rates don’t exceed their actual interest.” To read the editorial, use the link.
Other Resources

RSS print
News Now LiveWire
.@BelvoirFederal revamped the checking acct. it offers to active duty military members and achieved 23% growth on the product in 1 mo.
12 hours ago
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
16 hours ago
The 54th Western CUNA Management School graduated 89 students on July 25.
16 hours ago
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
17 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
7 25 ago