Bank of America Credit Card Complaint

Bank of America Credit card department,

APR or interest rate North Carolina

Back in - - I was able to get a no-rewards credit card for a very low interest rate ( Prime + 2.99 % ). Today, I can find no similiar card that I can apply for. The lowest rate I see now is Prime + 8.00 %. Yet, in an artcle on -/-/- entitled " CFPB Warns of Flaws in Credit Card Market '' CFPB Director - - is reported by the - to have said in prepared remarks before a - conference : " At the same time, we found that credit is now cheaper and more available and the credit card business has remained an attractive, profitable business for banks, with default rates that are now at historic lows, '' - said. " In short, more effective regulation has created a safer, more affordable credit card market with more opportunities available to consumers. Responsible lenders are now able to do business on fair and transparent terms. That is a remarkable achievement. '' - said this concerning the - CARD act and the effects on the card market derived from it. Well, if he is right that the CFPB " found that credit is now cheaper and more


I would like Director - - or the CFBP in general to issue an apology for saying that. It is blatantly untrue, and would like to see a description of the " findings '' that support lower credit card prices. ( Please feel free to forward these " findings '' to my email ). It is both hypocritical and unethical for the CFPB to claim to find instances of deceipt among financial companies yet make such fallacious and demonstratably false statements as the one given in the - -. Card prices have INCREASED since the implimentation of the CARD act, not decreased, and any insinuation to the contrary is deceptive and unfair.