Seattle man fights back against credit card industry

February 8, 2010 by Todd Murray · 1 Comment 

John Clinton Tuttle is mad at the credit card industry and is not going to take it anymore. Tuttle has launched a campaign against the industry by placing stickers (yes, stickers) on ATMs all over Seattle. The stickers say “Stand up to the rich bankers!” and direct people to Tuttle’s website www.creditcardrevolt.com for more information. And although Congress recently passed the Credit CARD Act, which imposes some restrictions on the credit card industry, Tuttle calls the law “total baloney” and proposes these five reforms instead:

  1. Print the interest rate on each card;
  2. Limit contracts to 1 page;
  3. Cap interest rates at 15%;
  4. Show transaction fees on sales receipts;
  5. Require online calculators so people can easily check their bill for accuracy

Although trying to stop the credit card industry by putting stickers on ATMs is kind of like trying to stop a train by throwing rocks at it, I certainly admire Tuttle’s spirit. And I think that the first three of his proposed reforms are great ideas that would go a long way toward creating meaningful disclosure of credit card terms.

Huffington Post | Credit-Card Protester Sticks It To Banks — With Stickers | February 8, 2010

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About Todd Murray
I'm a consumer rights lawyer in Minneapolis, Minnesota. I sue debt collectors that harass and abuse people, defend debt collection lawsuits, and sue repossession companies that wrongfully repossess cars and trucks.

Comments

One Response to “Seattle man fights back against credit card industry”
  1. Nick says:

    I like where Mr. Tuttle is headed with this. Too often we sit back and play the victim of the agreements we enter into. Too little anyone takes proactive steps toward a resolution that would benefit everyone AND makes a complex problem easily understood. Way to go Mr. Tuttle…

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