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.
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
Senior Reporter – @cp_jmurphy
12/08/2016 12:00 PM
TAHLEQUAH, Okla. – The Cherokee Nation attorney general’s office filed a lawsuit on Nov. 28 in the U.S. District Court for the Western District of Oklahoma against the United States, Department of Interior, Bureau of Indian Affairs and other agencies claiming the federal government mismanaged the tribe’s trust funds. According to a CN Communications release, the suit asks the U.S. to give an “accurate accounting of the Cherokee Trust Fund, which includes property, land, funds and other resources.” The lawsuit states the intent is to “resolve accounting and related equitable claims” that the CN brings against the federal government and some of its agencies and bureaus relating to the government’s management of the CN’s trust fund, including money generating obligations owed by the government to the CN. “Within the Trust Fund, the United States held and managed vast resources for the Nation including inter alia, money; proceeds from the sale of land or profits from the land; money from surface leases for agriculture, surface, oil and gas mining leases, coal leases, sand and gravel leases, businesses, and town lots; income from property owned by the Nation’ buildings; the Nation’s records; and money resulting from treaties or other agreements,” the lawsuit states. During an April 28 Rules Committee meeting, prior to the Tribal Council’s approval of the litigation, Attorney General Todd Hembree said the lawsuit’s purpose was to have a proper accounting of and to rectify any and all trust violations or trust responsibilities that were not fulfilled by the U.S. to the CN. “This is a monumental lawsuit. We discussed the details of the arrangement…This does involve treaty rights. So therefore, in accordance with the Consent to Litigation Act, before going forward we must have a council resolution,” Hembree said. “ This is a once-in-a-lifetime type of suit, and we hope to be very judicious in its prosecution and to be a game changer for the Cherokee Nation when it’s all complete.” When the Tribal Council discussed the lawsuit on April 28, Tribal Councilor Dick Lay asked if there was any kind of waiver of sovereign immunity included with the legislation. Hembree said “no” and that the lawsuit wouldn’t require a waiver either. “It is very advantageous for the Cherokee Nation. The way it’s structured, if I was the plaintiff in this lawsuit I’d be comfortable with it,” Hembree said. According to the suit, outside attorneys representing the tribe are from the Indian and Environmental Law Group in Tulsa, Hunsucker Goodstein PC in Washington, D.C., and Askman Law Firm in Denver. The Cherokee Phoenix requested costs for the outside attorney contracts through CN Communications and a Freedom of Information Act request on Dec. 5, but as of press time neither had been received. Some Tribal Councilors during the April 28 meeting said other tribes had seen success with similar lawsuits against the U.S., so in essence the groundwork had already been laid for the CN. Tribal Councilor David Thornton said the case was not expected to be resolved quickly, but over several years. Hembree said he hopes to prosecute the case within three years, but believes both sides would settle at some point. <a href="http://www.cherokeephoenix.org/Docs/2016/12/10841__nws_161205_TrustLitigation.pdf" target="_blank">Click here to read</a>the complaint document.
BY ASSOCIATED PRESS
12/08/2016 10:00 AM
STILLWATER, Okla. (AP) — A judge has refused to move the trial of a woman charged with crashing into spectators at the Oklahoma State homecoming parade and killing four. The Payne County district judge on Tuesday turned down the request by attorneys for 26-year-old Cherokee Nation citizen Adacia Chambers. Defense attorneys argued that Chambers couldn't get a fair trial in Payne County because of pretrial publicity. Judge Stephen Kistler also rejected other motions, including one to suppress statements made by Chambers, who witnesses said commented about being suicidal following the October 2015 crash. Other motions denied include one to suppress autopsy photos of victims and to order the families of victims not to show emotion while in court. Chambers has pleaded not guilty to four counts of second-degree murder and 42 counts of assault and battery.
BY LINDSEY BARK
Staff Writer
12/08/2016 08:00 AM
TAHLEQUAH, Okla. – According to unofficial results, Joe Bunch won the Dec. 5 runoff for United Keetoowah Band principal chief against Anile Locust. Unofficial results show Bunch received 58.64 percent of the votes (302 votes) while Locust received 41.36 percent (213 votes). A total of 515 UKB citizens voted in the tribe’s nine districts. Bunch said he thanks the UKB citizens for “overwhelmingly” electing him for his first full term as principal chief. He has served as interim-principal chief since May after the Tribal Council voted to remove former Principal Chief George Wickliffe from office, a decision that the UKB courts later upheld. “I look forward in using my 32 years experience in tribal government moving our tribe forward. It will be an honor and privilege working with federal agencies in resolving our shortage of federal resources provided to all federally recognized tribal governments,” Bunch said. “I plan to move our tribe forward by getting land in trust, re-establish our gaming portfolio and develop our economic status while safeguarding our rich Keetoowah tradition and heritage. Thank you Keetoowah voters for your confidence in me.” In a Facebook post, Locust commented about conceding the race to Bunch. “It was truly a great race for the office of the chief. I had fun. I met a great bunch of people, and I was honored to have so many people support me…Pray for Joe Bunch and the rest of our leaders as this is what we are commanded to do,” she states. The Cherokee Phoenix contacted Locust for comment but she declined. Bunch was expected to be sworn into office on Jan. 7. According to the UKB Election Board, results would not be official until five days after the date of the election for any protests, appeals or recounts of election votes.
BY STAFF REPORTS
12/07/2016 12:00 PM
PARK HILL, Okla. – The Cherokee Heritage Center will close to the public for 16 days beginning Jan. 1 after another season of promoting Cherokee history and culture. “This has been a busy year for the heritage center, and we have welcomed visitors from across the country,” Tonia Hogner-Weavel, interim CHC director, said. “We are thankful for the generous support of all of our sponsors and donors and look forward to bringing a full, fun-filled schedule again in 2017.” As the tourism season winds down, CHC will operate under holiday hours effective Dec. 1. The CHC will be closed to the public Dec. 23-26. From Dec. 27-31, it will open from 9 a.m. to 5 p.m. Tuesday through Saturday. From Jan. 1-16 it will close to the public, and from Jan. 17 to May 27 it will open from 9 a.m. to 5 p.m. Tuesday through Saturday. Guided tours through the ancient village Diligwa will be offered twice daily at 11 a.m. and 3 p.m. While the CHC operates independently from the tribe, it continues to promote tourism within the Cherokee Nation. More than 50,000 guests visited the CHC throughout the year, taking advantage of everything the organization has to offer. In addition to permanent exhibits and archives, CHC featured four exclusive exhibits, four art shows, monthly cultural classes, group tours and various educational events. It is located at 21192 S. Keeler Drive. For information on 2017 season events, operating hours and programs, call 1-888-999-6007 or visit <a href="http://www.CherokeeHeritage.org" target="_blank">www.CherokeeHeritage.org</a>.
BY STAFF REPORTS
12/07/2016 09:30 AM
TAHLEQUAH, Okla. –Deputy Chief S. Joe Crittenden issued a statement today regarding the 75th anniversary of the attack on Pearl Harbor. His statement is as follows: “President Franklin D. Roosevelt said Dec. 7, 1941, is a date which will live in infamy, and those words ring as true today as when he gave the famous speech 75 years ago. The attack on Pearl Harbor changed the course of history for our great country and the lives of those men and women serving at Pearl Harbor and those who served in World War II. As Cherokee Nation citizens and Americans, I encourage you to take a moment today and recognize and honor the brave men and women who gave the ultimate sacrifice on that day. Also, remember to keep in your mind and heart those who answer the call to protect our freedoms and country today, especially on this day of remembrance when the United States faced and overcame its greatest challenge.”
BY STAFF REPORTS
12/06/2016 12:00 PM
TAHLEQUAH, Okla. – Cherokee Nation officials will attend area Christmas parades with floats during the holiday season. At 6 p.m. on Dec. 9, the CN will have a float in the Christmas Parade of Lights in Tahlequah. The tribe will also have a float in Catoosa’s Christmas Parade, which begins at 2 p.m. on Dec. 10. The tribe will also have a float in the Christmas Parade in Jay, which begins at 2 p.m. on Dec. 10, as well as the Christmas Parade in Hulbert, which begins at 6 p.m. on Dec. 10. Finishing out the holiday parade season, the CN officials will have a float in the Christmas Parade of Sallisaw, which begins at 6 p.m. on Dec. 10.