Weigh In on Prototype Credit Card Agreement
While Republicans in Congress were busy undermining the Consumer Financial Protection Bureau, the CFPB was busy doing its job.
CFPB is asking consumers to weigh in on a prototype credit card agreement that is shorter, written in plain language and explains key features up front. Take a look here, and let CFPB know what you think. It’s all part of the agency’s Know Before You Owe campaign.
CFPB reports that a recent study by J.D. Power showed that some two-thirds of credit cardholders say they don’t completely understand how their cards work. Many complaints stem from a misunderstanding of card terms. Credit card debt is estimated at $700 billion.
U.S. Unemployment Worsens to 9.8 Percent, More Jobs Lost Than Expected
U.S. job loss worsened in September, with 263,000 lost, moving the official unemployment rate from 9.7 percent to 9.8 percent and underlining how the nation’s economic crisis is a jobs crisis. The new data out today by the U.S. Department of Labor means some 15.1 million workers have lost their jobs since the recession began in December 2007.
The official 9.8 percent unemployment rate is bad enough, but a more realistic—and horrible—picture of what’s really going on in this nation is the unemployment data that includes those not counted in the official figure, such as those who have given up looking for work: That’s a stunning 17 percent unemployment rate—some 26 million workers who need jobs or full-time work but cannot find it.
