Attorney General Says Credit Card Companies Are Abusing Consumers
November 01 2005
The WV Attorney General's Office kicked off a special series of open forums in Raleigh County Tuesday night.
Story by Christine Winter
Attorney General Darrell McGraw's office says the financing of consumer debt is the nation's fastest growing business, making over $30 billion in profits last year alone.
McGraw is traveling across the state to host informational meetings about the problem. He says creditors are preying on those who are financially vulnerable.
"The first thing we all need to do is to be highly responsible about the use of credit cards... We should be careful about the number of credit cards we get. And we should avoid the solicitations," said McGraw.
The Attorney General's Office is asking lawmakers to step in and make some changes for consumers. They include new legislation to keep credit card marketers away from college campuses. McGraw also wants to stop the insurance industry from using credit scores to determine insurance rates.
The next forum in Southern West Virginia will be held on Wednesday, December 7, at the CASE Senior Center in Princeton. The forum, which starts at 5:30pm, is free and open to the public. Other meetings will be held at locations across the state over the next few weeks. For more information, call 1-800-368-8808.