Dear Mr. Ron Wyden,

My name is Gordon and I am lifetime Oregon resident. I am writing you to express my frustration in hopes that you can offer some assistance to my situation.

Recently I went through a layoff and was required to borrow money for basic subsistence for my family and to keep my home. I have subsequently (most fortunately) found employment and am once again employed. Unfortunately I borrowed $30, 000 through a very difficult period and am doing everything in my power to repay this debt to the lender in a timely and prompt manner. The lender in this situation is Chase Bank.

I paid one payment late (ONE DAY LATE, ONE TIME) and the interest rate jumped from 6% to over 19%. That change in terms has resulted in the monthly payment nearly doubling, and the net result is real hardship for me and my family.

I called Chase and expressed this situation to them requesting concession. They callously advised that are acting within the terms of the contract and the law and clearly had no interest, whatsoever, in helping me through this very difficult situation.

It is mind boggling to me how my tax dollar can assist a company such as CHASE through their recent difficult situation, and in turn they have the ability to financially "rape" me.

In my opinion, the ability for large banks to do this to good paying customers (literally sinking customers with interest rate hikes) is akin to white collar crime on a MONUMENTAL SCALE. It is my understanding that representatives (such as Chris Dodd and Barney Frank) have accepted substantial contributions (in the $ millions) from Chase over the past two years for “campaign contributions”. I cannot help but wonder if one of the driving reasons for Chase’s generosity to these representatives of our US Government to insure that the US Government does not act in the best interest of its people, but rather in the best interest of Chase Bank in situations such as this one.

Your response on this matter is greatly appreciated.

Kindest Regards,