Blind Eye

Whoa!!

I wonder whether the banks/credit card issuers and Bank Negara are in cahoots with each other: Most unaware of RM250 limited liability

If this Clause (and it probably is, whether it has been taken out of context is another thing though) is true, the question would be:

1. Why has Bank Negara failed to inform the public?
2. Why are the banks/CC issuers ignoring this clause?
3. Knowing that banks/CC issuers are ignoring the clause, what have they done about it?

To me this seems to be one of the worse forms of dereliction of duty!!! If Bank Negara cannot protect us even with such law in place who could? Certainly not the hitherto ignorant consumer!! Can the erstwhile 'cheated' consumer now sue both the government and bank/CC issuers for this? I hope so!

And this makes me wonder what other consumer rights we are still blissfully unaware of...