Institutionalized Immorality: Finance Site Names Most Evil Banking Acts of 2011

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CreditCardAssist.com Includes Arresting Customers for Closing Accounts, Illegally Harassing Widows In List,

Despite new regulations that might lead consumers to believe that big banks are safer than last year, the fact of the matter is that they're more at risk than ever before.

The banking industry’s bad habit of illegally harassing widows for their deceased spouse’s debt has won top spot on the CreditCardAssist.com list of the Worst Things Banks Did to Consumers in 2011. The popular personal finance site declared an incident this summer where a Florida woman was called by debt collectors constantly throughout her husband’s wake to be the most despicable banking act of the year -- but it was a close call. The article, which details the most reprehensible actions of the financial industry in 2011, is intended to serve as a warning to Americans planning on doing business with corporate banks in 2012.

"Despite new regulations that might lead consumers to believe that big banks are safer than last year, the fact of the matter is that they're more at risk than ever before," says CreditCardAssist.com founder Bill Hazelton. "The actions of the banking industry last year were the worst that we've ever seen."

One Wall Street bank had customers arrested for trying to protest unfair policies by closing out their accounts, according to news site NakedCapitalism.com. Another caused a pregnant woman to miscarry by hounding her for weeks and destroying her credit rating -- all over a check that the bank had already cashed. Two major credit card issuers sued a small restaurant for $1.3 million using data that they allegedly fabricated. In 2011, immorality became institutionalized in banks across the country.

Hazelton expects continued upheaval in 2012 as more and more consumers look to move their accounts from the large, national banking conglomerates to smaller locally-owned credit unions. “The banking industry needs a wake-up call,” he says. “Hopefully the migration of customers will make it listen.”

Bill Hazelton, founder of CreditCardAssist.com, has been advising consumers and business owners on the perils of the credit industry since 2004. Under his guidance, the site has grown into one of the leading credit card information resources on
the Internet and its on-site reports have been cited by the San Francisco Chronicle, the New York Post, Yahoo! News and more.

To learn more about CreditCardAssist.com or to schedule an interview with Bill Hazelton, please email Matt Hoff at Matt(at)contentfac(dot)com.

More information and the entire report can be viewed here.

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