Just when Congress put the damper on some of the most onerous fees credit card companies try to charge, — surprise — the companies are figuring out loopholes to get around the new laws.
The new laws try to prevent companies from tacking on fees for payments by phone. But some credit card companies have started a new fee for “expedited” payments made through a live operator. Some companies are even trying this when the payment is being made at the last minute.
Consumers should demand rebates for these fees. A bankruptcy case will wipe them out of course, but its not going to be worth it for a typical debtor to file just because of minor fees. In this situation, vigilance by the consumer is the best defense; debtors running in to these improper loopholes should consider filing a complaint with the Comptroller of the Currency or the Federal Reserve Board.
By Doug Beaton