http://www.cherokeephoenix.orgCreditcard 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)

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
Senior Reporter – @cp_jmurphy
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.

News

BY ASSOCIATED PRESS
04/28/2017 04:00 PM
ALBUQUERQUE, N.M. (AP) — One of North America's most prominent powwows is set to begin in New Mexico in the wake of pipeline protests in North Dakota that became a historic display of Native American solidarity. The Gathering of Nations is one of the world's largest gatherings of indigenous people. Last year's event attracted about 3,000 dancers from hundreds of tribes in the U.S., Canada and Mexico. It routinely draws at least 80,000 visitors. The event that opens Thursday in Albuquerque is intended to be nonpolitical, but Larry Yazzie, its official announcer, said people will be reminded why they are coming together, and that the "water protectors" — those who joined the pipeline protests — will be acknowledged. "There will be plenty of people there who have been to North Dakota," Yazzie said. "The spirit will be there." The protests were staged after the Standing Rock Sioux and other tribes said the pipeline threatened their sovereignty, religious rights and water supply. The Crow tribe — a traditional foe of the Sioux — joined the demonstrations. In August, authorities arrested about 750 demonstrators, including actress Shailene Woodley and Green Party presidential candidate Jill Stein. In February, authorities dispersed the last remaining holdouts in advance of spring flooding season. The Gathering of Nations will be held at Expo New Mexico after the organization parted ways in a public spat with its longtime host — the University of New Mexico and its basketball arena. The new venue also hosts the New Mexico State Fair and will give powwow vendors more space while providing visitors with a more intimate feeling amid a smaller powwow arena. "It's going to have its growing pains. It's a change," Yazzie said. "But I think a lot of people are excited to see the new place, and we will have a lot of dancers ready to compete." The Gathering of Nations began in 1983 in a gym at present-day St. Pius X High School and moved to Expo New Mexico soon after. The event then relocated to the University of New Mexico. A character in the 1998 movie "Smoke Signals" said the Gathering of Nations was such a powerful pan-Indian event that it would have kept Columbus away had it been around in 1492. Dan Mourning, general manager of Expo New Mexico, said officials have been working for a year to prepare for the revamped Gathering of Nations. Mourning expects attendees to embrace a new indoor Indian trading market and live entertainment at "Stage 49." For the first time, a medical marijuana developer and dispensary will help sponsor the event. Representatives of Ultra Health will pass out pamphlets and brochures about medical marijuana and ways attendees can apply to the program.
BY STAFF REPORTS
04/27/2017 04:00 PM
TAHLEQUAH, Okla. – Six Cherokee Nation citizens, five of whom are CN citizens, recently formed an AAPC chapter in Tahlequah. The AAPC is the nation’s largest training and credentialing association for the business side of medicine. Those forming the chapter are CN citizens Melinda Mefford, Janice Horton, Jaycie Robbins-Bogart, Barbara Weavel and Deanna Chandler, as well as CN employee Gina Fletcher. Fletcher serves as the chapter president while Mefford is vice president. Horton is secretary, and Robbins-Boggart is treasurer. Weavel serves as the education officer, while Chandler covers new member development. “The new chapter was requested because local residents who are members of AAPC had to drive to Tulsa, Fayetteville (Arkansas) or Fort Smith (Arkansas) for monthly meetings,” Fletcher said. “These meetings provide not only networking with other coders and billers, but also provide continuing education units at no cost. These CEUs are necessary to maintain AAPC certification. We’re so excited to be able to offer these opportunities to our local membership.” According to a press release from the new chapter, local chapters provide an opportunity for health care professionals to share common interests, questions, information and concerns. Local chapters also provide AAPC with feedback on programs, trainings and current trends facing the health care community, it states. “AAPC local chapters are crucial for our industry; they’re at the grass roots where true networking and education take place,” AAPC CEO Jason VandenAdkker said. “Our members receive assistance and encouragement from those who have ‘done it’ before them. We’re very proud of our local chapters officers who volunteer to promote the profession and give back to others because someone gave to them.” AAPC has more than 500 chapters across the county. In addition, the chapters provide an education forum, offer networking opportunities and establish an environment where less-experienced members may interact, learn and be mentored by those with more experience. For more information about AAPC certification and local chapters, visit <a href="http://www.aapc.com" target="_blank">www.aapc.com</a>.
BY STAFF REPORTS
04/27/2017 12:15 PM
CATOOSA, Okla. – Hard Rock Hotel & Casino Tulsa recently joined the ranks of the best hospitality establishments in the country when the American Automobile Association honored it with its Four Diamond Rating. Cherokee Nation Entertainment’s largest entertainment property is now recognized as one of North America’s select accommodations. Fewer than 6 percent of the 28,000 AAA-approved and diamond-rated establishments in the nation receive the prestigious distinction. “This honor affirms our commitment to remain a premier entertainment destination,” Martin Madewell, Hard Rock Hotel & Casino Tulsa senior director of hospitality services, said. “We are proud to see the dedicated efforts of our staff be nationally recognized and ranked alongside the most elite establishments in the U.S.” According to AAA, a Four Diamond property is one that is “refined, stylish with upscale physical attributes, extensive amenities and high degree of hospitality, service and attention to detail.” AAA, the world’s largest publisher of travel information and one of the world’s largest leisure travel agencies, rates more properties than any other rating entity. Lodging establishments and restaurants receive a rating of one to five diamonds. AAA uses full-time, professionally trained evaluators to inspect each property annually. Diamond ratings appear in online travel guides, on the club’s website and via the AAA Mobile app as well as the printed Arkansas, Kansas, Missouri & Oklahoma TourBook® guide. For more information about AAA and Diamond Ratings, visit <a href="https://www.ok.aaa.com" target="_blank">https://www.ok.aaa.com</a>.
BY STAFF REPORTS
04/26/2017 04:00 PM
CATOOSA, Okla. – Restoring Identities after Sexual Exploitation, RISE, will have its second annual “Rise to Freedom Gala” on June 2 at the Hard Rock Hotel & Casino Tulsa. The event begins at 6 p.m. and will host guest speakers Kylla Lanier, “Truckers Against Trafficking” deputy director, and sex traffic survivor Dr. Amanda Reed. Tickets for the event are $100 and can be purchased at <a href="https://squareup.com/store/rise-corp/" target="_blank">https://squareup.com/store/rise-corp/</a>. RISE was created after Cherokee Nation citizen Keri Spencer’s daughter asked her if they could help those who have been sex trafficked so they created a church program to educate children and parents on what to look for regarding sex trafficking. From that, Spencer spearheaded RISE. “RISE is a 501(c)(3) nonprofit. I actually am the founder…and serve as the executive director,” she said. “RISE exists to open a long-term residential facility for girls in Oklahoma that are ages 12 to 18 who have been sex trafficked or commercially sexually exploited.” For more information about RISE or to donate, visit <a href="http://www.riseshelter.org" target="_blank">www.riseshelter.org</a>. For more information about the event, call 918-822-3539 or email <a href="mailto: kerispencer.rise@gmail.com">kerispencer.rise@gmail.com</a>.
BY STAFF REPORTS
04/25/2017 03:00 PM
LONGMONT, Colo. – First Nations Development Institute on April 20 published a report that clears up a longstanding “urban legend” that has had a negative impact on Native communities. The report “Twice Invisible: Understanding Rural Native America” challenges the commonly held belief that the majority of American Indians and Alaska Natives live in cities and urban areas. The report looks closely at U.S. Census data and uses a definition of “rural” areas developed by the Housing Assistance Council that is calculated with a formula that takes into account population and housing density. Using this definition, First Nations’ researchers found that 54 percent of American Indian and Alaska Native people live in rural and small-town areas on or near reservations, contrary to common belief. “An outdated measure of ‘urban’ areas has been used by the Census Bureau for a long time,” First Nations President and CEO Michael E. Roberts sad. “Their definition of ‘urban’ includes small towns of less than 4,000 people. We felt the need to clear up some misconceptions and, in doing so, hopefully improve the distribution of resources to these rural and small-town areas. This is part of our longstanding work of elevating the Native voice and working to change the narrative about American Indian and Alaska Native people. We don’t want rural communities to be left out.”?? First Nations Associate Director of Development Eileen Egan said the institute kept hearing from different foundations that they were using the statistic that 72 percent of Native Americans live in urban areas, which is often reported by researchers. “That didn’t sound right to us. We felt a responsibility to dig deeper since it impacts the distribution of resources. We know that most of our grantees and many of our partners reside and work in remote, small-town areas that we, or anyone, would never define as ‘urban,’” she said. Raymond Foxworth, First Nations vice president of Grantmaking, Development and Communications, said First Nations’ mission has always been to work with rural American Indian and Alaska Native communities, which are often left out of mainstream funders’ program areas. “The erroneous 72 percent statistic was being widely used to direct money away from these rural areas, where the populations often struggle with higher poverty rates and many other economic and social disparities,” Foxworth said. “We felt it was important to understand where this number was coming from and how accurate it was. We feel it is much more accurate to say that 54 percent of American Indians and Alaska Natives, or a majority, live in rural and small-town areas.” ?? In addition, the report found that the majority of American Indians and Alaska Natives, or 68 percent, live on or near their home reservations. “We understand the challenges associated with using Census data to understand rural Native America, but we believe that only with carefully analyzed data can we have an accurate understanding of rural Native America, and make rural Native America visible again,” Sarah Dewees, First Nations senior director of Research, Policy and Asset-Building Programs, said. “We hope this report will be useful to funders and nonprofit staff who are designing programs to effectively serve Native American people.”?? The full report can be downloaded at <a href="http://www.firstnations.org/knowledge-center/strengthening-nonprofits" target="_blank">http://www.firstnations.org/knowledge-center/strengthening-nonprofits</a>.
BY STACIE GUTHRIE
Reporter – @cp_sguthrie
04/25/2017 08:15 AM
CATOOSA, Okla. – According to an economic impact study, the Cherokee Nation’s financial influence on Oklahoma exceeded $2.03 billon in 2016, growing from $1.5 billion in 2014. Dr. Russell Evans, an Economic Impact Group principal and Oklahoma City University assistant professor of economics, conducted the review. He released his findings during an April 21 forum at the Hard Rock Hotel & Casino Tulsa. “What we find is that the Cherokee Nation operations here in northeast Oklahoma in 2016 had an over $2 billon impact on northeastern Oklahoma. Supporting nearly 18,000 jobs, just under $800 million dollars in income here in northeast Oklahoma,” he said. “It’s a tremendous source…and perhaps even more valuable given the general state of the state’s economy last year.” The study shows the tribe employs more than 11,000 direct and contract employees across the United States, with a majority being in Oklahoma. “$500 million is being paid out in northeastern Oklahoma to workers of Cherokee Nation Businesses and Cherokee Nation government offices. They’re taking back to their communities and spending in their local communities,” Evans said. “The Cherokee Nation directly produces or directly buys from local vendors almost $1.5 billon worth of goods. These are the revenues that are generated by this operation, the Cherokee Nation as well as purchases being made by the businesses and government operations of local vendors. So nearly $1.5 billon in direct economic activity in this area of Oklahoma we can trace back to the Cherokee Nation.” Evans said the “significance” of the tribe’s economic impact might affect economic development patterns “well into the future.” “I want to kind of keep in the back of your mind as you think about the true significance of the economic impact of the Cherokee Nation operations, it’s not just what the Cherokee Nation is doing today from who they employee and what they buy, but it’s also what I suspect we’ll see is that it’s also going to affect patterns of economic development well into the future,” he said. During the forum, Principal Chief Bill John Baker said it’s “amazing” to see the impact the tribe is generating in the state. He added that approximately 40 years ago, when the tribe re-organized as a government, the CN was producing an impact of $0 compared to the approximately $2 billon it produced in 2016. “Five short years ago we rolled out an economic impact on Oklahoma of the Cherokee Nation of almost $1 billon. How amazing that in 40 short years we went from $0 economic impact to a billon dollars. Today you have an economic impact statement…that says the Cherokee Nation had an economic impact last year of over $2 billon,” he said. According to a CN press release, studies of tribe’s economic impact have been conducted every two years since 2010. Reports from 2010, 2012 and 2014 showed the tribe’s economic impact as $1 billion, $1.3 billion and $1.55 billion, respectively. For more information, visit <a href="http://www.cherokeenationimpact.com" target="_blank">www.cherokeenationimpact.com</a>. <strong>Total compact for 14-county jurisdiction, according to <a href="http://www.cherokeenationimpact.com" target="_blank">www.cherokeenationimpact.com</a>.</strong> County Output Jobs Income Adair $67.9 million 902 $37.1 million Cherokee $275.9 million 5,910 $220.9 million Craig $14.3 million 273 $10.5 million Delaware $186 million 1,371 $56 million Mayes $163 million 781 $24.8 million McIntosh $1.8 million 13 $696,672 Muskogee $113 million 952 $40.3 million Nowata $26.4 million 263 $10.2 million Ottawa $3.2 million 53 $989,474 Rogers $386.3 million 2,923 $135 million Sequoyah $152.1 million 1,200 $49.8 million Tulsa $592.8 million 2,626 $181.1 million Wagoner $6.6 million 48 $1.2 million Washington $48.8 million 475 $16.8 million