As Credit Card Interest Rates Rise, Angry Consumers Speak out!

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Ann Minch has had enough and has decided to stage a "debtor's revolt"! Angered by an unfair and uncalled for spike in her interest rate, she turned to YouTube.

Ann recorded a public message to Bank of America calling for a "Debtor's Revolt after learning her interest rate had been jacked-up to 30%.  Her video has been seen by a quarter of a million people. Ann may not realize it, but her sentiments echo what millions of other consumers are feeling!

Ann's Video message to Bank of America:
I've decided to it's time to take a stand against the banksters' usury and greed! If our founding fathers were willing to sacrifice their LIVES for our FREEDOM, then I can certainly sacrifice my credit score and be willing to be sued. I'm staging a DEBTOR'S REVOLT


Ann reports she received a call from a Bank of America executive who agreed, after a little negotiation, to restore her interest rate to its previous level of 12.99%.

Kudos to Ann for taking a stand! For more of Ann's story see a great piece in the Huffington Post.

Boatloads of consumers continue to complain about an array of unfair creditor tactics that include rate hikes, credit limit cuts and an increase in fees and mandatory minimum payments. The proposed Consumer Financial Protection Agency (CFPA) will reinstate the first line of defense that protects consumers from dangerous financial products.  By issuing strong rules that apply nationwide and cover all products and lenders and then by vigorously enforcing those rules, the CFPA will issue a minimum set of safety requirements for all financial products and help establish a regulatory "floor". Tell Congress we need accountability.

Even better, the CFPA will restore a second line of consumer protection defense: state government.

Read my recent SunSentinel Blog: Mad as Hell and not taking it anymore!

And an earlier... Consumers want financial reforms!

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WHUUUUUUUH WHOOOOOO! Go Ann, Go! She's right we need think about changing the way we do banking just as they have. They may not like how we do it either. Denise, I did call my local credit union after reading one of your articles but I found out I needed to be a city employee to bank there. Maybe the credit unions will change their policy to. Thanks to Ann and people like you we can have our voices heard.

Go Ann, Go! There are over 4,000 comments about this on the Huffington Post. Denise I have been reading your blog for a while now and agree with you and Ann that people should speak up. You are both an inspiration. Never before have we had so much coming against us. If I had a video camera i would make my own video, but for now I will make a comment of support.

Agree! Greedy credit card companies might have pushed too far. This is why I only use my debit card now. No more plastic for me and no more free money for them.

I applaud the spirit of this woman; who wouldn't want to "stick it to the man?" But I think that the way she approached it was wrong. I honestly don't think that she fully understands the consequences of her actions. recently posted a brief response making several suggestions on what should could have done to resolve the situation and walk away from BofA without wrecking her finances for the foreseeable future.

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