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Alessandro Machi

User Profile Image Alessandro Machi
Member since : Jun-01-2009 (Verified)
1 Ideas, 14 Comments, 7 Votes

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Ideas Posted

It is important to allow consumers the right to just say no when a bank or credit card company changes terms on a pre-existing financial agreement. The consumer was faithfully honoring the existing agreement, suddenly the bank changes the terms of the deal and the consumer has no say in the matter?

Huh? What country is this anyways? Credit Card Companies are feasting on struggling families right now, and the consumer right to OPT OUT is not a law! Chase Bank has abused this loophole and other Credit Card Companies are soon to follow suit.

-Alessandro Machi

http://www.Daily-Protest.com
Displaying 1 - 25 of 4205 Ideas
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Comments Posted

Alessandro Machi 8 months ago
First of all, you can see what a sham the recent credit card reform bill act was because no mention of OPTING OUT is in the act.

I am going to recommend DEMANDING Chase bank offer arbitration.

Talking points include, the lure of the offer was to pay off higher interest cards and save money. If Chase accelerates the monthly minimum payment they are baiting and switching what the original offer was supposed to help alleviate.

Remember, ALL OF THE CHASE CUSTOMERS GETTING HIT with the CHANGE IN TERMS AND NOT BEING ALLOWED TO OPT OUT, OVER A MILLION OF THEM, ARE ON-TIME PAYING CUSTOMERS! Chase Bank is deliberately trying to default their most reliable customers, and I consider this to be either a conspiracy or treason, and should be investigated by the FBI.

I believe that Chase Bank thinks it is more profitable to default their customers than to be an ally in these times.

DEMAND Arbitration, you'll probably have to fax a letter to the proper department, but that info should be available through customer service.
Alessandro Machi 9 months ago
I should add that Chase Bank also did not allow 400,000 thousand of their most reliable and on time paying customers to opt out either after Chase Bank changed terms.
Alessandro Machi 9 months ago
Even though you voted no on my idea

http://opengov.ideascale.com/akira/dtd/4487-4049, I won't vote no on your idea.

However, you really should respect other ideas and not just glibly vote them no while treating your own ideas so seriously.
Alessandro Machi 9 months ago
Wrong, Wrong, Wrong, Wrong, Wrong, Wrong, Wrong, Wrong,Wrong, Wrong, Wrong, Wrong, Wrong, Wrong, Wrong, Wrong, I just can't say it enough.

Chase bank DID NOT ALLOW me to opt out over their most recent change in terms.

This arrogant act by what may be the most hated bank on the planet has resulted in over a dozen lawsuits from all over the country, and more on the way.

sheesh.
Alessandro Machi 9 months ago
You still are not understanding the issue at hand. I enter an agreement with the bank over a financial deal, we both agree to the terms.

Then suddenly, the bank changes the terms and says you have no say so in the matter.

This is where the right to opt out comes in. I should already have the right to say, "no thanks", I don't agree to your NEW CHANGE IN TERMS.

I agree to pay off the debt based on the agreement ALREADY IN PLACE.

That is what this is about.
Alessandro Machi 9 months ago
OPT OUT allows people to say no to a change in terms initiated by the banks as long as that person has not broken the existing contract.

OPT OUT then requires the person to continue to pay off the debt according to the already agreed upon terms, and the person agrees to continue to pay off the debt while also not using the card anymore.
Alessandro Machi 9 months ago
You did not understand the topic then. It is the BANKS that are making changes in PRE-EXISTING AGREEMENTS and then not allowing the customers to OPT OUT.

Chase Bank just did this to their best customers by raising the monthly minimum payment by 150% above and beyond what it was for people who had low interest loans and had never been late on a payment.

Chase Bank did NOT allow the customers to opt out. This is financial slavery. The original agreement was for a low interest loan for the life of the loan, if Chase wants to change the terms fine, BUT, the consumer should have the right to OPT out of the agreement and continue paying off the card at the already agree upon terms.
Alessandro Machi 9 months ago
I noticed you voted on my idea even though it is running over 90% yes.

I think my idea is reasonable. I won't return your no vote but I will let other people see what you voted no on.

http://opengov.ideascale.com/akira/dtd/4487-4049
Alessandro Machi 9 months ago
This is a very clever idea. I wonder if the plant life would suffer if it started growing in a landfill.
Alessandro Machi 9 months ago
I think you should consider a different title, Tax Simplification and Awareness Act. People should be sent a notice from the IRS every year that states the approximate percentage that they paid in taxes, ALL TAXES.
Alessandro Machi 9 months ago
rob, you were one of but less than a handful who voted AGAINST this idea http://opengov.ideascale.com/akira/dtd/4487-4049.

Over 90% approve of this idea, if you had voted yes instead of no, it would have been even higher.

You have no credibility with me for voting against allowing consumers the right to OPT OUT when the banks changes terms of a financial agreement already in place and won't allow the consumer to opt out of the change in terms.
Alessandro Machi 9 months ago
OPTING OUT should NOT result in your credit score being reduced. Punishing someone for exercising good judgement by closing a credit card that has changed terms for the worse is not fair or ethical.

Yet apparently, the way FICO scores work right now, your credit score may get reduced because you closed a credit card, and that is simply an unjust action.
Alessandro Machi 9 months ago
Thank you to everyone else that voted yes on this idea.
Alessandro Machi 9 months ago
Two people out of the first 28 have voted this idea down, meaning 26 have vote for the idea.

rob_in_harford_md and juanramos777, please leave a comment here and explain why you are against something that the first 24 people who voted all agreed is a good idea.