Congress
HIGHLIGHT
During this time of economic crisis, common sense legislation currently before the House and Senate would restore much-needed balance to the card issuer and cardholder relationship. Prohibitions on excessive issuer penalty fees, “any time / any reason” changes in terms, and bait and switch interest rate hikes are among the proposed solutions.
Credit Card Reform = A Fair Shake for Borrowers
Years of irresponsible lending have put borrowers in a very vulnerable position in this continually faltering economy. It is possible that 2009 will be one of the worst years on record for credit card users, but swift passage of the Credit CARD Act means substantive help is on the way to curb abusive industry practices.
- Congressional Research Service Memo re H.R. 627
May 12, 2009This memorandum provides a comparative analysis of H.R. 627 (the Credit Cardholders’ Bill of Rights Act of 2009), as passed by the House on April 30, 2009, and the amendment in the nature of a substitute prepared by the Senate Banking Committee.
- Testimony of Kathleen Keest In Regards To HR 2309
May 12, 2009Testimony of Kathleen E. Keest on behalf of the Center for Responsible Lending, Consumer Federation of America, and the National Consumer Law Center before the Subcommittee on Commerce, Trade and Consumer Protection Committee on Energy and Commerce in regards to H.R. 2309: The Consumer Credit and Debt Protection Act.
