"... McGraw is asking the court to order the companies to stop violating state law, to pay each customer who has been a victim of its practices from $200 to $3,700 each and to fine the companies and Abessinio $5,000 for each violation. ..."
Why does McGraw want to fine Cross Country Bank and Applied Card Systems $5,000 for each violation, but the victims get only $200 to $3,700 each?
I think they should pay for the cost of the investigation, and if the AG has to make a profit, add 10% or whatever they need to make.
CCB customers have been been subjected to harrassment and illegal collection practices for many years.
"McGraw sued Cross Country Bank, its subsidiary Applied Card Systems and Rocco A. Abessinio, who owns both companies."
Don't know why the AG can sue a CEO but I can't.
"Googel said the attorney general’s office has received at least 200 consumer complaints against Applied Card and Cross Country since November 1997."
Only 200? How many THOUSANDS of complaints has the FTC received about the CRAs?
"McGraw’s suit is actually a response to a lawsuit Cross Country had filed against his office earlier this month. Cross Country sought to block McGraw’s use of private lawyers and information from a former employee’s affidavit in his office’s investigation of the company."
CCB sued the AG?
What are things coming to? CCB has been on my list of banks NOT to do business with for many years.
Rocco should go to the Grey Bar Hotel.
Can I go from house to house and take $50 here and few hundred there, year after year?
I don't think so.
Why can corporations steal our money and ruin our lives and the CEOs don't go to prison?
"Cross Country Bank "promotes its credit cards as a way for credit-impaired consumers to establish their credit rating,’’ according to the lawsuit. "Many consumers find, however, that their credit rating is worse after obtaining a CCB credit card."
The same is true for Capital One. At least CCB reports the credit limits.
Evil thugs like James McAfee at the Federal Reserve Bank know it and couldn't care less.
Posted by Christine at March 18, 2004 09:34 AM