Today's Hearing on The Credit Cardholders’ Bill of Rights
The House Subcommittee on Financial Institutions and Consumer Credit is holding a hearing today on H.R. 5244, The Credit Cardholders' Bill of Rights. The prepared testimony of the witnesses is available on the Subcommittee's hearing page. Four consumers are testifying along with other financial services regulators (from the Federal Reserve, FDIC, OCC, and OTS), card industry executives (from Citi Cards, American Express, and Discover) and consumer groups (Consumer Federation of America, Consumer Action, and US PIRG).
Update: CNNMoney.com reports on the hearing and testimony by Sen. Carl Levin and Sen. Ron Wyden who both urged the House to take action on the legislation.
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