Apparently this bank is heavily into usery these
days: 27.99% APR credit card rate
OUTRAGEOUS ! Almost CRIMINAL !!
You can bet that this
kind of profiteering behavior is going to have a
big-time downside -- can you spell l-a-w-s-u-i-t-s
PBCT SUCKS !
aren't you putting the horse before the
People's is now on notice. we will see how they respond.
if it's not satisfactory, the attorneys will let
fly, and regulatory complaints will be
I tend to go for individual actions. however, I
suppose if it turned out to be a policy problem, and
there was a class that actually could be identified,
then there might be a class action in it.
we will all just have to wait and see.
1-since I don't live in CT, or anywhere else
where People's branche are located, I have no other
2-after being screwed a few years
back by TransUnion (and fighting 3 years with them to
correct errors) I check my credit report twice each year.
yes, US Bank has (in violation of FCRA) placed
derogatory information on our credit report. this info. has
been there for at least 1.5 years. no, there is no
other significant damaging info. on our
3-regarding the illegal USB info? yes, US Bank is being sued
again (we prevailed in the last court case)
have lots of other cards: we don't really need
People's for anything. it's a matter of principle. I think
they are now engaging in abusive, price gouging
tactics. My response these days to unethical or illegal
corporate conduct is to go for the
5-People's has been put on notice, and we are waiting to see
what there response will be. regulatory action is a
hammer we have hung over their heads. we will file
complaints with appropriate state and federal regulators if
satisfaction is not obtained. my experience has been that the
regulators do not/can not do a lot for individual complaints
(especially federal). that is why I've found the courts to be
an effective means to resolve these types of
problems. I suppose we may find out soon if Joe Leibermans
legacy of consumer advocacy lives on in CT.
consumers of this country have been getting screwed every
which way but north recently, by greedy, incompetent,
arrogant corporate interests. it's just time that we, the
consuming public, give a few shots back. I pick my fights
very carefully, making sure all the elements are
satisfied, all the witnesses are available, and all the
duckies are in line, and then I take them on like a pit
bull. you may think this is a waste of time and energy,
but many of the consumer protections you enjoy have
come as a result of the actions of me, and many others
True, which is why I was waiting until the
dividend starting to bump up against 7.0% to think about
buying. PBCT has a good history of maintaining and
increasing the dividend, and that yield would act as a
cushion to keep the price from falling too much,
especially if there is a deflation.
A bigger problem
is that they are concentrated in CT; as CT goes, so
goes PBCT to some extent.
An as for the
There are two anonymous whiners and one person who
appears to have had too many cups of coffee today. This
is hardly a landslide. In the days that I was in the
branches I saw a lot more than two whining customers a
Their protests not withstanding, you would be amazed
how many "bank problems" turn out to be "customer
problems". Banks do make mistakes (and when they do, they
should be held accountable). However, banks balance
every day and errors have to be corrected every day.
How many people do you know that balance their
checkbook every day?
For someone who claims to do
research, you put a lot of credence in two anonymous posts
on unmoderated boards.
Well I for one have been predicting a major
economic slowdown (maybe even serious deflation next year)
since last November.
Bank stocks are very
cyclical, they tend to do well in the period coming out of
recession, and earnings continue to increase through the
growing economy stages.
My point was that, if you
look at the charts, this stocks earnings appear to
refect a general slowdown, comensurate with interest
rate increases and concerns over possibly economic
retreat - its a typical cycle.
So, maybe ya'all
shouldn't be expecting to see any significant earnings
growth until after this latest economic stage has run
Of course, that could take a few
Just my opinion (the stock has had a good run-up of
the past 6 - 7 years: But all good things must
eventually come to an end)
If the rates go up significantly and/or the
economy slows significantly, then PBCT will face an
earnings slow down. So will just about every other bank.
The real question is the quality of the loan
portfolio that they keep; I have no idea what it is like.
Just out of curiosity:
1) How many other PBCT
accounts do you have besides the credit card?
you looked at your credit report to see what happened
to it (if anything) as a result of your problem with
USB? Has anything else happend lately to damage your
3) If there was any damage, have you
taken steps to correct it?
4) If you don't like the
bank, why don't you just go somewhere else to get a
credit card? I used to work there, but I found plenty of
other cards that were just as good (if not better)
I will understand if you don't want to post the
information, but make sure before you go to the authorities
that you have good answers to all those
Finally 5) Why are you posting here instead of just going
to the authorities?
Well, let's see if I can answer.
to follow a number of people (some of whom
apparently post in different places under different IDs)
because they have, in the past, gotten into some very
interesting battles that led to some very interesting
disclosures - not sure that that is what is going to happen
here, but we'll see.
To be clear, there is also
a small entourage of people who apparently follow
*me* around to different boards, just to see what
fireworks I might be going to set off (no, these other
folks aren't alter-egos of myself).
engage in rumor mongering - that's way I haven't laid
any allegations on this board - just asked questions
/ just asked for some
Whenever I do make an allegation, it will be based on
information from verified sources - still doing my research
though, and waiting to see what transpires
If I make a comment, the purpose is not to affect
stock price or otherwise impact the shareholders. But,
I do believe that everyone should have access to
all available information - even the
If there are people out there that don't like PBCT,
or feel that the bank has suddenly headed in the
wrong direction, then their opinions should be heard
and evaluated too. That kind of information does
*not* typically show up in the public record, and
therefore needs special attention.
And yes, I agree
with you that the Longs too often malign the Shorts,
when in fact they probably should be taking some cues
I'll be here, watching and
listening. If thing get hot and juicy, I'll jump in.
Otherwise, I'll just get bored with poor ole PBCT, and go
elsewhere for fun
Later Boys !