Quantum Windbag
Gold Member
- May 9, 2010
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Interesting how unions do the same things they hate banks for. Can't wait for the fake Cherokee to jump in and call them out for it.
This Bank Bashing Union Is Making Money With A High-Interest Credit Card - Business Insider
Consider, for example, the SEIU New Rewards Visa Card and the AFL-CIO Union Plus card. With each new enrollment and subsequent swipe of the card, the union bags a fee and a percentage respectively. This turns into huge money: In FY2011, according to its LM-2 filing with the Department of Labor, the AFL-CIO received approximately $28,163,266.00 from credit card revenue.
Given the labor movements high-wattage rhetoric against the big banks, issuing credit cards to union members seems like an odd revenue source for Big Labor to pursue.
After all, SEIU has blasted the banks for pushing credit cards and other banking products with unfair rates or traps in the fine print. Furthermore, theyve enlisted their members to report banks offering new products designed to push consumers further into debt.
This Bank Bashing Union Is Making Money With A High-Interest Credit Card - Business Insider