Making Credit Cards Work for Consumers

For thousands of Sudbury residents, facing this economic recession has meant exhausting our savings and putting daily items on our credit cards. Far too many of our friends and neighbors are finding their debt mounting while credit card companies change the rules, boost their interest rates, and collect record profits.
 
Due to a shocking lack of regulation, credit card companies have taken advantage of Canadian consumers by changing their accounts and interest rates any time, applying increasingly abusive fees and penalties.

Thanks to the leadership of Glenn Thibeault and the NDP, these practices will soon come to an end.
 
Since being selected as the New Democrat’s consumer protection critic, Glenn Thibeault has repeatedly challenged the Harper government to be accountable on the issue.
 
“Out of control fees and interest charges continue to drain the pockets of hard-hit consumers and businesses,” Thibeault challenged, “…credit card companies are hurting their own revenues by hiking interest rates and pushing Canadians even further toward default or bankruptcy. When will the government realize that reasonable limits are needed to ensure all Canadians survive this economic crisis and not just credit card companies?”
 
On April 27th, the House of Commons approved Mr. Thibeault’s motion to limit the most egregious practices of credit card companies. Supported by all but the Harper conservatives, the motion requires the government to bring a law into effect to regulate fees, taking Canadians out from under the thumb of these companies.  
 
“The Harper government has been sitting back and trusting credit card companies to police themselves. They just don’t get it,” said Thibeault. “New Democrats have always fought to protect consumers from being gouged and this motion will push the government to take real action.”
 
Contact our office at (705) 673-7107 for more info, or to tell us your story of misbehaving credit card companies.