Credit Card Companies Promise to Come Clean on Fee Disclosures

Pinocchio BusinessSpeaking of [tag-tec]credit card companies[/tag-tec], have you heard three of the top ten are promising to be kinder and gentler to customers?


They’re vowing to cut  exorbitant [tag-ice]fees and penalties[/tag-ice]. And they’re going to be more up front about all those hidden fees from now on. 


In fact, Chase Bank USA CEO Richard Srednicki forgave customer Wesley Wannemacher of over $4000 of fees and interest poor Richard owed on his credit card.


Doesn’t that make us feel good? 


I can’t help wondering if the fact that Wannemacher was planning to testify before the Senate Permanent Subcommittee on Investigations about owing $7500 in interest and penalty fees on an original  [tag-self]debt[/tag-self] of $3200  had anything to do with it.   Hmmmm?


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