By Rita R. Robison
As the run up to the 2012 election begins, it seems to be getting more difficult for politicians to make the right choices for consumers.
Good progress was made after President Obama was elected with health care reform, improvements to federal product safety laws, credit card reform, and the federal financial regulatory reform law, including the creation of the Bureau of Consumer Financial Protection.
However, big banks and big corporations are big donors, so interest in consumer issues has been waning as politicians begin to focus on their reelection campaigns next year.
Updating of toxic chemical laws and climate change regulations are stuck in Congress, while conservatives pound away at the consumer legislation passed, try to destroy environmental laws, and strip the budget of important programs for consumers, especially the low-income.
The largest banks will only be allowed to charge retailers 12 cents per transaction on debit card purchases beginning next month, rather than the current average fee of 44 cents per transaction. Higher fees are usually passed on to consumers, so this is a victory for merchants and consumers.
However, Washington Post financial columnist Michelle Singleton recommends not using debit cards at all. Instead she advises consumers to use cash and to negotiate to get lower prices for cash purchases.
