Creditcard users will be better off after new credit card laws go into effect inFebruary. (Photo by Jami Custer)

New credit card laws designed to help consumers

Creditcard users will be better off after new credit card laws go into effect inFebruary. (Photo by Jami Custer) Creditcard users will be better off after new credit card laws go into effect inFebruary. (Photo by Jami Custer)
Creditcard users will be better off after new credit card laws go into effect inFebruary. (Photo by Jami Custer)
BY JAMI MURPHY
Reporter
11/30/2009 07:14 AM
TAHLEQUAH, Okla. – This year credit card companies and consumers were introduced to new laws designed to help protect consumers. Some laws went into effect in August, but others will not take effect until December and late February.

According to one Cherokee Nation employee, these laws have been needed for several decades because the credit card industry has gone unregulated, raising interest rates and changing terms of credit card contracts for millions of customers while they could.

“With the current economy and financial institutions being held to a stricter code of ethics and operations, reform was just a matter of time,” Deborah Vanderpool, a Self-Sufficiency supervisor with the tribe’s Commerce Group, said. “Consumers have been subject to unscrupulous credit card practices for decades, and we’ve still got a few months until we are fully protected.”

In response to the laws, many banks and credit card issuers have tightened standards for issuing cards, and most all have made it more difficult to qualify for a credit card.

“In a survey of the largest national banks, including 19 that issue credit cards, 68 percent indicated to bank examiners that they had tightened credit card lending standards during the 12-month period ending March 31, 2009,” Vanderpool said.

She said the new laws would affect people who use or will use a credit card and that benefits of these changes are huge for consumers.

In the past, credit card issuers could change account terms, including interest rates and fees, without giving much notice. Now, according to the new laws, lenders must give account holders at least 45 days advance notice of significant changes.

Other big changes include informing customers of the right to cancel an account and that cancelling does not require the users to immediately pay off the balance. Further changes include:

• Monthly credit card bills must disclose the dates by which payments must be received to avoid late penalties and the dates that late fees will be charged to the accounts.
• Card issuers must include warnings in monthly statements indicating consumers who only make minimum payments that the amount of time it will take to pay off the debt in full and the interest they will pay will increase.
• Card issuers must disclose whether interest rates will increase if one or more payments are not received on time and what the penalty interest rate will be. This notice must appear on the monthly statement near the payment due date.
• Consumers can opt out of significant changes in terms to their accounts, including interest rate hikes and increase in fees and other charges.
• Cardholders who are more than 60 days late making payments do not have the right to opt out of APR increases.
• Credit card issuers must inform card users of the right to cancel when they mail the 45-day advance notice of the change in terms.
• Opting out is not considered defaulting on the account and should not be penalized by the card issuers.
• Issuers cannot demand payment in full of the outstanding balance or charge monthly maintenance fees on closed accounts if the consumer rejects the changes in terms.
• Opting out does not include raising minimum monthly payments required as this would actually be better for the consumer and pay off the card balance earlier.

“Currently opting out of interest rate hikes is only granted at the card issuer’s discretion and is not a consumer right,” Vanderpool said. “Opting out will allow the consumer to pay the old, lower interest rate but will not allow further purchases on the card.”

She said there are three methods for repaying balances on accounts that have been closed by consumers choosing to reject changes. They are: paying the balance over at least five years, charging a minimum payment that is up to twice the percentage charged before the change in terms and using the same repayment plan used on the account at the time the consumer rejects the change in terms.

Vanderpool said retroactive interest rate hikes on existing balances are banned except when an introductory period ends, the interest rate is tied to an index and is variable, the card user completes the terms of a workout plan for debt repayment or fails to comply with a workout plan or the card user is more than 60 days late making monthly payments.

Vanderpool said consumers younger than 21 who are not authorized users on a parent’s account must show proof of income to repay credit card loan or have an adult co-signer if they want accounts in their own names.
About the Author
Reporter

Jami Murphy graduated from Locust Grove High School in 2000. She received her bachelor’s degree in mass communications in 2006 from Northeastern State University and began working at the Cherokee Phoenix in 2007.

She said the Cherokee Phoenix has allowed her the opportunity to share valuable information with the Cherokee people on a daily basis. 

Jami married Michael Murphy in 2014. They have two sons, Caden and Austin. Together they have four children, including Johnny and Chase. They also have two grandchildren, Bentley and Baylea. 

She is a Cherokee Nation citizen and said working for the Cherokee Phoenix has meant a great deal to her. 

“My great-great-great-great grandfather, John Leaf Springston, worked for the paper long ago. It’s like coming full circle. I’ve learned so much about myself, the Cherokee people and I’ve enjoyed every minute of it.”

Jami is a member of the Native American Journalists Association, and Investigative Reporters and Editors. You can follow her on Twitter @jamilynnmurphy or on Facebook at www.facebook.com/jamimurphy2014.
jami-murphy@cherokee.org • 918-453-5560
Reporter Jami Murphy graduated from Locust Grove High School in 2000. She received her bachelor’s degree in mass communications in 2006 from Northeastern State University and began working at the Cherokee Phoenix in 2007. She said the Cherokee Phoenix has allowed her the opportunity to share valuable information with the Cherokee people on a daily basis. Jami married Michael Murphy in 2014. They have two sons, Caden and Austin. Together they have four children, including Johnny and Chase. They also have two grandchildren, Bentley and Baylea. She is a Cherokee Nation citizen and said working for the Cherokee Phoenix has meant a great deal to her. “My great-great-great-great grandfather, John Leaf Springston, worked for the paper long ago. It’s like coming full circle. I’ve learned so much about myself, the Cherokee people and I’ve enjoyed every minute of it.” Jami is a member of the Native American Journalists Association, and Investigative Reporters and Editors. You can follow her on Twitter @jamilynnmurphy or on Facebook at www.facebook.com/jamimurphy2014.

News

BY JAMI MURPHY
Reporter
04/17/2015 04:30 PM
TAHLEQUAH, Okla. – According to campaign disclosure reports released on April 15, Principal Chief Bill John Baker has raised more than $830,000, which is more money than all other candidates combined, including two Tribal Councilors who are no longer campaigning for seats. According to the Cherokee Nation’s Election Commission, the first campaign disclosure report was due April 15. A report consists of a beginning campaign fund balance and ending balance. Also included are contribution amounts, in-kind donations, loans, expenditures and advertising statements. Of those running for principal chief, Baker raised the most with $815,054.77 in monetary donations and $17,262.22 in in-kind donations for at total of $832,316.99. He loaned his campaign $4,220 bringing the balance to $836,536.99. After expenditures, his ending balance was $434,934.41. According to the disclosure reports, all other candidates combined raised $572,488.69. Included in that total is Tribal Councilor Cara Cowan Watts, who campaigned for the principal chief seat but did not file to run, and Tribal Councilor Julia Coates, who the EC and CN Supreme Court ruled ineligible to run for the deputy chief seat because she didn’t meet residency requirements. Former Principal Chief Chad Smith received $92,850 in monetary donations and no in-kind donations. He loaned his campaign $10,072.97 bringing the balance to $103,780. After expenditures his ending balance was $50,120.64. Former CN Community Services Group Leader Charlie Soap raised $30,400 while loaning his campaign $7,565.46, bringing his balance to $37,965.46. After expenditures his ending balance was $24,943.56. State Rep. Will Fourkiller’s contributions totaled $10,800. He loaned his campaign $3,153.67 for a balance of $13,953.67. After expenditures his ending balance was $8,538.49. Cowan Watts raised $71,429 in direct contributions and $8,086.99 in in-kind donations for $79,515.99. She loaned her campaigned $50,013.87, which includes direct expenditures, according to the disclosure report. After expenditures her total came to $23,410.88. Also, according to her report, she returned several contributions. In the deputy chief race, incumbent S. Joe Crittenden raised $77,250 with $10,606.50 in in-kind donations. Crittenden loaned his campaign $2,255 making his total revenues $90,111.50. His ending balance for the campaign was $52,517.92 after expenditures. Tribal Councilor Lee Keener totaled $8,450 in direct contributions with $942.27 in in-kind donations for a total of $9,392.27. He loaned his campaign $1,272. After expenditures, his campaign fund was $6,519.97. Coates raised $10,200 with no loans to the campaign. Her ending campaign balance was $0 after expenditures. The Supreme Court on April 13 affirmed the EC’s ruling that stated Coates did not live within the tribe’s jurisdiction 270 days before the June 27 general election, which is required for a deputy chief candidate. To view any candidate’s disclosure report click the links below. <strong>Principal Chief Candidates</strong> <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_bjbakerfinancials_addition_april.pdf" target="_blank">Click here to view</a> Bill John Baker's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_bjbakerfinancials_addition_april.pdf" target="_blank">Click here to view</a> Bill John Baker's campaign financial disclosure report addition. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_csmithfinancials_april.pdf" target="_blank">Click here to view</a> Chad Smith's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_csoapfinancials_april.pdf" target="_blank">Click here to view</a> Charlie Soap's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_wfourkillerfinancials_april.pdf" target="_blank">Click here to view</a> Will Fourkiller's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_ccwattsfinancials_april.pdf" target="_blank">Click here to view</a> Cara Cowan Watts' campaign financial disclosure report. <strong>Deputy Chief Candidates</strong> <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_sjcrittendenfinancials_april.pdf" target="_blank">Click here to view</a> S. Joe Crittenden's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_lkeenerfinancials_april.pdf" target="_blank">Click here to view</a> Lee Keener's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_jcoatesfinancials_april.pdf" target="_blank">Click here to view</a> Julia Coates' campaign financial disclosure report. <strong>Tribal Council Candidates</strong> <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_banglenfinancials_april.pdf" target="_blank">Click here to view</a> Buel Anglen's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_bberryfinancials_april.pdf" target="_blank">Click here to view</a> Brian Berry's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_bgirtyfinancials_april.pdf" target="_blank">Click here to view</a> Brandon Girty's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_bkmccoyfinancials_april.pdf" target="_blank">Click here to view</a> B. Keith McCoy's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_bmckeefinancials_april.pdf" target="_blank">Click here to view</a> Benjamin McKee's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_bswimmerfinancials_april.pdf" target="_blank">Click here to view</a> Betsy Swimmer's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_bwarnerfinancials_april.pdf" target="_blank">Click here to view</a> Bryan Warner's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_cbunchfinancials_april.pdf" target="_blank">Click here to view</a> Corey Bunch's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_dlayfinancials_april.pdf" target="_blank">Click here to view</a> Dick Lay's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_dmatlockfinancials_april.pdf" target="_blank">Click here to view</a> Darell Matlock Jr's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_dpatzkowskifinancials_april.pdf" target="_blank">Click here to view</a> Dora Patzkowski's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_dreedfinancials_april.pdf" target="_blank">Click here to view</a> Deb Reed's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_dwalkingstickfinancials_april.pdf" target="_blank">Click here to view</a> David Walkingstick's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_kaustinfinancials_april.pdf" target="_blank">Click here to view</a> Keith Austin's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_khollowayfinancials_april.pdf" target="_blank">Click here to view</a> Kenneth Holloway's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_kpkilpatrickfinancials_april.pdf" target="_blank">Click here to view</a> Kathy Kilpatrick's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_lbolinfinancials_april.pdf" target="_blank">Click here to view</a> Linda Bolin's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_lpritchettfinancials_april.pdf" target="_blank">Click here to view</a> Larry Pritchett's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_nfullbrightfinancials_april.pdf" target="_blank">Click here to view</a> Natalie Fullbright's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_pfoxfincancials_april.pdf" target="_blank">Click here to view</a> Pamela Fox's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_rgofffinancials_april.pdf" target="_blank">Click here to view</a> Ron Goff's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_rjordanfinancials_april.pdf" target="_blank">Click here to view</a> Rex Jordan's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_rsierrafinancials_april.pdf" target="_blank">Click here to view</a> Ryan Sierra's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_scrittendenfinacial_april.pdf" target="_blank">Click here to view</a> Shawn Crittenden's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_sjettfinancials_april.pdf" target="_blank">Click here to view</a> Shane Jett's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_tbrownfinancials_april.pdf" target="_blank">Click here to view</a> Trey Brown's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_tjonesfinancials_april.pdf" target="_blank">Click here to view</a> Thomas Jones' campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_wbpearsonfinancials_april.pdf" target="_blank">Click here to view</a> William Pearson's campaign financial disclosure report. <a href="http://www.cherokeephoenix.org/Docs/2015/4/9179_whatfieldfinancials_april.pdf" target="_blank">Click here to view</a> Wanda Hatfield's campaign financial disclosure report.
BY STAFF REPORTS
04/17/2015 02:00 PM
ROLAND, Okla. – After working at the Cherokee Casino Roland for 25 years, Arvil Norman Wolfe has decided to retire. Hoping for some extra money during the Christmas season, Wolfe went looking for a part-time job in 1990, the same time Cherokee Nation opened the doors to its first casino, Cherokee Bingo Outpost in Roland. “Cherokee Nation put an ad in the Southwest Times Record looking for part-time employees,” Wolfe said. “I applied and was hired immediately.” Wolfe was born in Lees Chapel, a small town on the outskirts of Muldrow. He graduated from Muldrow High School in 1956 and currently resides in Dora, Arkansas, with his wife, Alta. He enjoys his family and fishing for large-mouth crappie and catfish. He decided to retire in April because he celebrates 57 years with his wife. They also share the same wedding anniversary of her parents and her sister. “There has been enormous growth since I’ve been with the company. It’s unbelievable, really,” he said. “At this point in history, the Cherokees are really on the move.” Over the years, he has seen the company transform into an economic engine for the area, hiring thousands of people since he was first hired. Wolfe was an employee in 1997 when $1.2 million was spent for additions and an improved ventilation system. He was also there in 2002 for a remodel and in April 2014 when the tribe broke ground on a new, $80 million casino and hotel. “I would like to thank Arvil for his many years of service to our Roland casino and the Cherokee Nation,” said Shawn Slaton, interim CNB CEO. “Arvil is a stellar employee and a great example to all of us. We will certainly miss him. We wish him the best in his retirement and hope he enjoys it fishing.”
BY STAFF REPORTS
04/17/2015 12:00 PM
TAHLEQUAH, Okla. – The Cherokee Nation Election Commission discussed the transportation of ballot boxes on April 14 at the Election Services Office. The EC discussed how it would administer money for gas to individuals who are hired to deliver ballot boxes to each precinct in the jurisdiction. However, the commission wanted more information on credit cards so it tabled discussion until more information was received. The commission voted to approve the precinct official manual with minor cosmetic changes. The manual will dictate the processes used by precinct officials to during the 2015 election. Other action discussed including the approval of past meeting minutes as well as entering into executive session where no action was taken.
BY ASSOCIATED PRESS
04/17/2015 10:00 AM
EDMOND, Okla. (AP) — Chickasaw Nation Gov. Bill Anoatubby (ANNA'-tubby) will be the commencement speaker at the University of Central Oklahoma's spring 2015 ceremony for the College of Education and Professional Studies. The ceremony is scheduled for 3 p.m. May 8 in UCA's Hamilton Field House in Edmond. Anoatubby has served as Chickasaw Nation governor since 1987 and is now in his seventh term in that post.
BY ASSOCIATED PRESS
04/16/2015 02:00 PM
OKLAHOMA CITY (AP) — The National Park Service has announced a $4.103 grant to the Chickasaw Nation of Oklahoma. The grant announced Wednesday is one of eight awarded nationwide under the Native American Graves Protection and Repatriation Act. The act requires museums and federal agencies to inventory and identify Native American human remains and cultural items in their collections, and to consult with culturally affiliated Indian tribes, Alaska Native villages, and Native Hawaiian organizations regarding repatriation. The grants are to assist in the repatriation of individuals and sacred objects, objects of cultural patrimony and funerary objects back to the tribes and others.
BY WILL CHAVEZ
Senior Reporter
04/16/2015 12:00 PM
TAHLEQUAH, Okla. – The 12 Cherokee Nation participants for the 2015 “Remember the Removal” ride were introduced on April 13 during the Tribal Council meeting. This year’s participants are Shawna Harter, 18, Tahlequah; Hailey Seago, 18, Claremore; Caleb Cox, 19, Miami, Oklahoma; Tanner Crow, 19, Tahlequah; Maggie McKinnis, 16, Hulbert; Kayla Davis, 19, Stilwell; Tennessee Loy, 22, Kenwood; Haylee Caviness, 18, Tahlequah; Wrighter Weavel, 19, Tahlequah; Alexis Watt, 21, Afton; Tristan Trumbla, 24, Tahlequah; and Billy Flint, 25, Tahlequah. The cyclists were chosen by a committee and must complete required trainings and history courses from February through May to go on the trip in June. “Remember the Removal” ride coordinator Joseph Erb said the riders are doing well and have been putting in extra training on their bikes in addition to their weekend rides. The group is slowly building up their mileage and will tackle 30-plus miles on April 18-19. Erb said he wants the cyclists to be able to ride at least 70 miles in one day before the group departs in early June. The cyclists and their chaperones will leave Tahlequah on June 3 for Cherokee, North Carolina, where they will join up with seven cyclists from the Eastern Band of Cherokee Indians. The EBCI has been participating in the ride since 2011. The 19 cyclists will begin making their way to Oklahoma on June 7 from New Echota, Georgia, along the Northern Route of the Trail of Tears and arrive on June 25 in Tahlequah. New Echota served as the tribe’s capital before the forced removal. The CN cyclists have been training since March to be ready for the challenge of riding an average of 60 miles a day during the three-week trip that retraces the Northern Route. This overland route was used by Cherokee detachments that left southeastern Tennessee in the autumn of 1838 and traveled through Kentucky, Illinois, Missouri and Arkansas before reaching Indian Territory in the spring of 1839. Of the estimated 16,000 Cherokees who were forced to make the journey to Indian Territory from southeastern Tennessee and other sites in the old CN, 4,000 died from exposure, starvation and disease. The public may follow this year’s journey on <a href="http://www.facebook.com/removal.ride" target="_blank">www.facebook.com/removal.ride</a>.