Credit board is folly
Published Friday July 3rd, 2009
Leave it to Canada's bloated Senate to come up with the idea for another federal bureaucracy.
The Senate banking, trade and commerce committee has recommended creation of a new oversight board to regulate fairness in Canada's credit and debit card systems. We agree consumers need to be protected from exorbitant credit card fees, but creating another federal bureaucracy to track this industry is folly.
Look no further than the ineffective Canadian Radio-television and Telecommunications Commission (CRTC) to see how taxpayer funds are wasted on an organization of little value. Among the CRTC's duties is to monitor Canada's do-not-call list, but their feeble attempts to control telemarketers have been exposed for all to see.
We don't need $100,000-a-year bureaucrats sitting in Ottawa to be our advocates.
Disabled
Search Articles
More CE Network Sites & Partners:
Comments (3)
All comments are subject to the site Terms of Use. For a full commenting tutorial click here.
Our editorial team relies on filtering technology and our visitor community to identify inappropriate comments. In the event that a site user has submitted offensive content that has evaded our filter, please select the option to Flag As Inappropriate presented within the comment. Thank you for helping to keep this site clean.
The "Do-not-call" list was a bit of a Horse Manure plan by the current government to calm the public who are rather annoyed with calls during suppertime. It was poorly put together and has been abysmally useless - but don't you DARE to try to blame this on the CRTC. The Government in charge foisted this on us....SHAME.
Credit Cards are a totally different matter and over the years we have been subjected to MASSIVE interest charges that would not be allowed in other parts of our society. These charges have surely cost the Maritime provinces huge amounts of money.
The companies issuing the cards have shown by their actions over the years that they are not interested in anything other than removing money from our pockets. It's a horrible injustice that we've waited this long to do something about it.
NOW GET ON WITH IT!!
I can't believe people actually complain about this. When you apply for a credit card for 18.9% then rack it up, come time to make payments they start sulking about the rate??? Come on, what do you think your getting yourself into? If you don't like the rate, need not apply or do not carry a balance.....ridiculous....
We certainly don't need another board created to take care of it. We have more than enough overpaid government members now. Just give them something to do for a change.