A Quote by Jeff Merkley

For too long, tricks and traps in mortgages, credit cards, and other financial transactions have stripped wealth from working families.

Jeff Merkley

Quote Topics

Cards Credit Credit Card Credit Cards Families Financial Long Other Stripped Too Transactions Traps Tricks Wealth Working

Quote Author

Jeff Merkley
American - Politician
Born: October 24, 1956

Big banks churn out page after page of incomprehensible fine print to obscure the cost and risks of checking accounts, credit cards, mortgages and other financial products. The result is that consumers can't make direct product comparisons, markets aren't competitive, and costs are higher. If the playing field is leveled and the broken market fixed, a lot more money will stay in the pockets of millions of hard-working families. That's real stimulus - money to families, without increasing our national debt.

Elizabeth Warren

No. It is not acceptable that the 6 largest financial institutions in this country have assets of almost 10 trillion dollars, and issue half of the mortgages and two-thirds of the credit cards. That is too much wealth and power in the hands of a few. If Teddy Roosevelt were alive today he'd tell us to 'break them up.' And he'd be right. These huge banks must be broken up.

Bernie Sanders

It's critical to level the playing field, to make prices and risks clear up front, so when someone signs on for a student loan or a mortgage or a credit card, they know the tricks and traps hidden in the fine print. That's why the Consumer Financial Protection Bureau has been working on a new financial aid shopping sheet. A shorter, two-page credit card agreement, a simpler mortgage disclosure form. All those are aimed toward helping people understand the basic bargain.

Elizabeth Warren

There are lots of families who - who make irresponsible purchases. There are also a lot of families who have debt on credit cards because they use those credit cards to pay for medical bills.

Elizabeth Warren

Families rely on financial services more than ever, but those who need them most - who struggle to make ends meet - too often must contend with sky-high interest rates and tricks and traps buried in the fine print of their loan products.

Elizabeth Warren

Don't cut up your credit cards, the problem is not the cards, it's the lack of financial literacy of the person holding the cards and always make the best out of a bad situation

Robert Kiyosaki

Meaningful rules in the consumer credit market can accelerate economic recovery. Rules would increase consumer confidence and, more importantly, weed out all the tricks and traps that sap families of billions of dollars annually.

Elizabeth Warren

I pay my credit cards in full every month - as well as all my bills and mortgages.

Sonja Morgan

The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.

Elizabeth Warren

The Fed contributed to the financial crisis, keeping interest rates too low for too long. I give them credit for responding and stabilizing the economy and the financial sector during the crisis. But then they tried to do too much with quantitative easing that went on forever, just dramatically exploding their balance sheets.

Kevin Brady

I'm not extravagant, so I won't need to rein it in too much. Me and my friend make each other cards. I love being creative and making things. But a better credit crunch idea is to not even bother sending cards.

Konnie Huq

Too many of us are vulnerable, and I look forward to working with AARP to advise people about the safest ways to conduct their financial transactions and manage social media.

Frank Abagnale

My transactions are above board: I do not have money deposited in other accounts and have transparently declared all assets. My real wealth is, however, my experience as cofounder of Infosys and as Aadhar Chairman, which gave away 60,000 crore identity cards to people of India as promised.

Nandan Nilekani

Secured cards can be helpful credit rebuilding tools for two reasons. First, because of the collateral, you can get them at a time when you're not likely to be approved for nonsecured cards. And as long as you maintain an on-time payment history, they can help you start to build a recent credit history that's fairly pristine.

Jean Chatzky

So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages, credit cards, student loans, bank loans and other obligations that they have less to spend on goods and services. So markets shrink. New investment and employment fall off, and the economy is falls into a downward spiral.