BBB Under Scrutiny

Link: http://www.bbbroundup.com

One of the great things about the internet is that is allows for social advocacy journalism. This story is based on information furnished to bbbroundup by one such individual.

Top credit card company executives are scheduled to meet with Obama administration officials today (Thursday, April 23, 2009) at the White House. Topics of discussion: legislation aimed at curbing deceptive practices and improving transparency in bank/credit card lending practices and interest rates. We thought it would be an interesting exercise to look at leading credit card and financial institutions through the eyes of the Better Business Bureau.

Great news! According to the Better Business Bureau, we're in good hands. Our banking institutions and credit card companies all seem to be fine, upstanding pillars of the community, at least the BBB thinks so. Mind you, this is the same BBB that published a report stating complaints against Financial Services institutions were at or near the top of the total complaint list for 2008. Can't imagine why the White House is even calling the meeting when obviously there's nothing to fix (at least in the eyes of the Better Business Bureau). By the way, all of these fine financial institutions are members of the Better Business Bureau with the possible exception of MasterCard.

The Links to The Financial Institutions BBB Grades
American Express
Bank of America
Citigroup
Wells Fargo
JP Morgan Chase
Capital One
Discover
Visa
MasterCard