It seems as the economy is finally on the upswing. After all of the hoopla about Obama’s first 100 days in office and his progress, many like myself wonder when the stimulus bill will actually trickle down and start helping the middle class. Our taxpayer money has invested millions into banks to keep their liquidity up. These banks in return are supposed to be giving homeowners and businesses access to credit they deserve.
However, I think the banks have taken advantage of the bailout and have tightened their lending criteria compounding the original issue. It’s just another way the consumer is held accountable for a greedy industry. One point that I agree on with Obama is his fight to end senseless credit card rate hikes. Many companies, fearing new legislation to ban increases, have started notifying good customers that their limits have been slashed and their rates have been increased.
I guess being a small business owner that takes responsibility for his original terms and agreement won’t ever understand how corporations can hide behind their customer service and take advantage of lengthy terms that their lawyers so masterfully created for situation like this.

Tags: banks, Business, Cards, Credit, middle class, obama, rates