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
07/07/2015 01:03 PM
TAHLEQUAH, Okla. – The Cherokee Nation Supreme Court has set a hearing of 2 p.m. on July 8 for former Principal Chief Chad Smith’s appeal regarding the validity of the June 27 general election in which he was a principal chief candidate. Smith filed the appeal on July 6. In it, he is requesting the Supreme Court rule the principal chief’s election invalid, declare Principal Chief Bill John Baker disqualified for violation of campaign finance laws, declare no mathematical certainty exists to establish the majority of votes for Baker because the Election Commission improperly accepted early walk-in and in-person ballots that should have been rejected, find the commission’s denial of 261 absentee ballots a violation of election law and order a new principal chief election or runoff of the remaining top two candidates. According to the appeal Smith alleges that the EC failed to establish the identity of those attempting to vote. “The Commission is required by statute to establish the identity of those attempting to vote. The Commission failed to comply with 26 CNCA subsections 12 (C)(1) for early walk-in voting and in-person voting in the Tahlequah and other precincts. This violation of the early walk-in and in-person voting procedure results in an improper acceptance ballots that should have been rejected,” the appeal states. It also alleges the EC refused to disclose where 261 absentee ballots were mailed to and states that the commission is bound by law that allows a tribal citizen a list of voters. “The Commission must provide the list by any method available for a nominal fee, as well as making it available at their office for inspection by a Cherokee citizen free of charge,” the appeal states. Smith also alleges Baker violated campaign finance laws by use of personal funds including “failure to report campaign expenditures made with personal funds,” “illegal expenditures to Consumer Logic” and a “violation if Baker paid Consumer Logic through a third party.” Smith also filed a motion in District Court on July 6 for the production of documents against the EC and Baker. Smith requests a list of precinct workers by title, address and precinct worked, the voter sign in books for early walk-in voting and Tahlequah precincts as well as all invoices, scope of work, cancelled payment check or instrument showing date to or from Consumer Logic Inc. from the EC. He also requested the same cancelled payment information from Baker, as well as other financial documents including invoices showing payments from personal funds from Baker referred to from the District Court in CV 2014-569, Smith v. Election Commission. “’While Principal Chief Baker has taken steps to support his re-election campaign for Principal Chief, all activities have been paid for from his own personal funds,’” the motion states. <a href="http://www.cherokeephoenix.org/Docs/2015/7/9414_SC-15-10_1-Appeal_7-6-15.pdf" target="_blank">Click here to view</a>the Appeal Challenging the Validity of Election Outcome. <a href="http://www.cherokeephoenix.org/Docs/2015/7/9414_SC-15-10_2-Motion_7-6-15.pdf" target="_blank">Click here to view</a>the Motion for Production of Documents.
BY STAFF REPORTS
07/07/2015 12:20 PM
TAHLEQUAH, Okla. – The Cherokee Nation is offering free Cherokee storytelling for the whole family every Wednesday from 10 a.m. to 11 a.m. in July at the Cherokee National Capitol gazebo. The event is open to the public as part of the Stories on the Square series and will feature Janelle Adair, former Miss Cherokee 1999-2000, as she engages in the age-old Cherokee art of storytelling. The first story, “Opossum’s Tail,” will be told on July 8. Adair will also be sharing the “Medicine Plant Story” on July 15, “How the Redbird Got His Color” on July 22 and “The Milky Way Story” on July 29. For more information, visit <a href="http://www.visitcherokeenation.com /Docs/2015/7/9414_SC-15-10_2-Motion_7-6-15.pdf" target="_blank">www.visitcherokeenation.com</a>.
BY JAMI MURPHY
Reporter
07/07/2015 09:14 AM
TAHLEQUAH, Okla. – The Cherokee Nation Supreme Court has ordered a hearing for 10 a.m. on July 8 on an appeal filed by Dist. 14 Tribal Council candidate Keith Austin who is challenging the validity of that race’s outcome. Austin filed the appeal around 4:30 p.m. on July 6. That appeal alleges ballots were cast that should not have been accepted, ballots were cast that should have been accepted and two absentee ballot envelopes could not be found. The appeal states “there is one challenged ballot that was rejected that should have been accepted; there are eight voters who live outside of Dist. 14 who are incorrectly registered to vote in Dist. 14 who voted; there are two voters who voted by absentee who ballots were rejected that should have been accepted; there is one voter whose absentee ballot was accepted, but the commission cannot locate his affidavit envelope and there are two absentee voters who the commission has not given voter credit to.” Austin further states in the appeal that 14 votes were cast and shouldn’t have been, three were rejected that should have been accepted and two ballots were lost. “For the forgoing reasons, it is apparent that the results of this election cannot be determined with mathematical certainty and Petitioner Austin requests that the Court order a new election,” the appeal states. Austin lost his Tribal Council bid by six votes in a certified recount on July 2. Check back with the Cherokee Phoenix for an update on this story.
BY JAMI MURPHY
Reporter
07/03/2015 12:48 AM
TAHLEQUAH, Okla. – According to certified recount results, Wanda Hatfield and Betsy Swimmer are still the top two vote-getters who will face each other in the July 25 runoff for the At-Large Tribal Council seat. Following the June 27 general election, Election Commission officials posted results showing Hatfield leading with 25.94 percent of the ballots cast at 1,057 votes. Swimmer was second with 18.9 percent or 770 votes. Following the July 2 recount, Hatfield continued to lead with 1,057 votes, but Swimmer lost seven votes to finish with 763. The Cherokee Phoenix attempted to learn what happened to the seven votes, but as of press time EC officials were unavailable for comment. Swimmer said she was confident the EC had valid numbers. “So I’m pleased that it came out like it did,” she said. “I’m pressing forward and I plan to win the election.” Hatfield said the top three finishers remained the same with the recount and congratulated Swimmer on being in the runoff. “It has been a great experience and the next three weeks will be extremely busy reaching out to the At-Large Cherokee citizens,” she added. Candidate Shane Jett, who requested the recount, received 717 votes in the general election, but saw his vote count lowered to 713 in the recount. Jett said with the 2015 election being his first venture into Cherokee politics it was a learning experience, especially the importance of voters ensuring they cast their ballots correctly. “They (EC) had to throw away over 350 absentee ballots because they either did not sign them, notarize them or fill them out properly. So those votes were never counted,” he said. “It’s important that people slow down and make sure their vote counts. I hope everyone gets out and votes for their candidate of choice because their (Cherokee) Nation is worth it.” The EC performed the recount with CN Supreme Court justices present before certifying the results. Runoff absentee ballots will be mailed on July 13-14 and the runoff election will take place on July 25. All successful candidates are to be sworn into office on Aug. 14, according to the CN election timeline.
BY JAMI MURPHY
Reporter
07/02/2015 11:30 PM
TAHLEQUAH, Okla. – According to the certified results from a July 2 recount, William “Bill” Pearson has beaten Keith Austin by six votes to win the Dist. 14 Tribal Council seat. Original certified results from the June 27 general election showed Pearson receiving 534 votes for 50.5 percent of the ballots cast, while Austin garnered 533 votes for 49.95 percent. Austin filed for a recount, which the tribe’s Election Commission performed. After that recount, Pearson had 525 votes for 50.2 percent compared to Austin’s 519 votes at 49.7 percent. The votes tabulated during the recount consisted of precinct, absentee, early absentee and precinct challenged. The recount had 23 votes less compared to the original count. EC officials said that occurred because of human error when inputting votes. “The challenged ballots from the districts were processed on Sunday (June 28) beginning at ”1 p.m. through 12:11 a.m. on Monday and resulted in 349 out of approximately 700 challenged ballots being accepted,” an EC statement reads. “The 349 ballots were then fed through a voting machine that was pre-defined for absentees, to get the vote count for the various races and candidates. The card from the machine was then placed in the computer to print out the challenged vote results. And unbeknownst to the operator it recorded the ballots as absentee votes then the operator took the printout of challenged ballots and manually entered them for the appropriate race and candidate, resulting in the 349 votes being entered twice.” The EC statement also reads that once this was discovered, those votes entered into the machine under absentee were removed. The challenged votes that were correctly placed in districts remained in those districts. “Resulting in the 349 being correctly counted,” the release stated. The Cherokee Phoenix contacted Pearson but he was unavailable for comment at the time of publication. In an email statement, Austin did not state whether he would appeal the recount results to the Supreme Court but that he appreciated the EC’s hard work. “They have the impossible job of determining a certifiable winner in a race that could not be closer,” Austin wrote. “Obviously, we want to work with the Election Commission and the Supreme Court to help determine that the election results are accurate. Cherokees took the time to vote because they have faith in our Nation. We owe it to them to ensure their intentions are honored and their votes count.” The EC certified the recount on July 2 in the presence of Supreme Court justices. Candidates have until July 6 to appeal election results with the Supreme Court. Provided there are any appeals, the Supreme Court would hear those cases July 7-9. Candidates elected to office during the general and runoff elections are expected to be sworn in Aug. 14, according to the tribe’s election timeline. The runoff election is set for July 25. <a href="http://www.cherokeephoenix.org/Docs/2015/7/9410_ExplanationofRecalculationofVoteCount.pdf" target="_blank">Click here to view</a>the Explanation of Recalculation of Vote Count document.
BY CN COMMUNICATIONS
Cherokee Nation
07/01/2015 06:22 PM
TAHLEQUAH, Okla. — At-Large Tribal Council candidate Shane Jett submitted a formal recount request Wednesday to the Cherokee Nation Election Commission after certified General Election results showed Jett finished third to candidates Wanda Hatfield and Betsy Swimmer. After Election Commission officials tabulated challenge ballots Sunday, results had Jett with 717 votes to Hatfield’s 1,057 votes and Swimmer’s 770 votes. Hatfield and Swimmer are scheduled for a run-off election Saturday, July 25, since no candidate garnered more than 50 percent of the vote, pending the outcome of the requested recount. Election Commission officials are now waiting on a formal order from the Cherokee Nation Supreme Court to begin preparation for the recount. Officials must have the recount completed by Friday, July 3. A recount for the District 14 race was ordered by the Supreme Court on Tuesday after candidate Keith Austin submitted a formal request late Monday. District 14 candidates Keith Austin and William Pearson were separated by one vote in the certified election results.