The Banks Are Doing It Again!

by

First the banks suckered us into borrowing too much on our homes. Now they are aggressively pushing credit card debt upon us, again. All without oversight or regulation.

I receive blank checks in the mail from banks every week. Just put in the amount and you have found money, regardless if you want it or need it or the cost.  And last week I got a credit card in the mail from Bank of America. “Here is your replacement card” they write. Except that I do not have a B of A card to be replaced.  But never mind. Just activate your Visa Signature card and begin reaping the awards (rewards).

Is there no regulation prohibiting unsolicited offers for unwanted funds or credit?

What if these cards get into the hands of thieves? Using my name and credit to get cash and merchandise? I wouldn’t know it was happening (until I get my bill) because I didn’t ask for it.  Who is minding the store?

In the meantime the chief executive of Bank of America is receiving $10 million in pay for the year 2010.

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