- Report: #134854
Report - Rebuttal - Arbitrate
Complaint Review: All The Big Banks: Bank Of America, Citibank, JPMorgan, Wachovia
All The Big Banks: Bank Of America, Citibank, JPMorgan, Wachoviawww.citibank.com New York, New York U.S.A.
All The Big Banks: Bank Of America, Citibank, JPMorgan, Wachovia ripoff interest charges based on false reporting of "prime rate" New York New York
*UPDATE EX-employee responds: US Prime Rate Set By Alan Greenspan Not Credit Card Companies
*Consumer Suggestion: You Said It. They pay like 2 to 3% interest on a saving account and charge some poor dumb b*****d 24.9% interest on a charge card or auto loan.
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The prime rate is defined as the best rate of interest for the banks biggest and best customers such as General electric, general motors, ibm,etc., but in facts, the banks are reporting a false prime rate to the Wall Street Journal and the New York Times so that they can use this rate to charge consumers 3% more than they should. This is just the biggest rip-off in the U.S. Billions of dollars are stolen from the consumers every year and the U.S. Court systems are helping them to steal from all of us.
Denville, New Jersey
This report was posted on Ripoff Report on 03/13/2005 07:44 PM and is a permanent record located here: http://www.ripoffreport.com/r/All-The-Big-Banks-Bank-Of-America-Citibank-JPMorgan-Wachovia/New-York-New-York/All-The-Big-Banks-Bank-Of-America-Citibank-JPMorgan-Wachovia-ripoff-interest-charges-b-134854. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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