Is there any organization fighting against the credit card companies?

I know usury and extortion are supposed to be illegal, but are there any group sout there trying to stop the credit card companies in their tracks?

Public Comments

1. I don't think so.. I wish there was.. Charging 25% interest is robbery (and they wonder why so many people file bankruptcy on them)..They are the only ones who can get away with that.. If I loaned u money and charged you even 12% interest.. I would go to jail. or get a heavy fine
2. No. since credit card companies are regulated by the federal government there would be little point in fighting with them. With few exceptions credit cards are issued by banks, though some are issued through third parties such as triple A, they are still owned by a bank. ( in the above example the bank would be MBNA/Bank of America) Credit card companies are regulated by states as well. since the federal government only controls the manner by wich credit must be offered each state gets to choose what other restrictions apply. Since people have to go to the credit card company to get credit and can be restricted or denied there are no real grounds to oppose them. no one is making anyone apply for a credit card.
3. The organization that best fits what you're looking for would probably be the Consumers' Union. Among its other activities, the Consumers Union is actively engaged in lobbying for certain legislative and regulatory reforms of the credit card industry that would benefit consumers.
4. Someone has to question the legality of the law that governs the Credit Card companies and point out that the law allows the companies to practice Usury and extortion. The card companies will always defend itself that it was allowed by law to operate in such a manner and will always be shielded by it. Question the law that allows them to do it. This will be a long and tiring process, and will definitely go to the Supreme court.