Pelosi: Credit Cardholders' Bill of Rights Protects Americans
Speaker Nancy Pelosi released the following statement on the Credit Cardholders' Bill of Rights, which was approved by the House Financial Services Committee today and will be considered on the House floor next week.
"The Credit Cardholders' Bill of Rights protects Americans against the unfair and often abusive practices of credit card companies. Americans should never be subject to excessive credit card fees, sky-high interest rates, and unfair, incomprehensible agreements that credit card companies revise at will. But during a recession, with so many families in economic peril, these practices can be devastating.
"This legislation is a departure from an era of government indifference to anti-consumer practices. I commend Congresswoman Carolyn Maloney for her tenacious work on this legislation in the face of continued opposition from corporate interests. I look forward to a strong, bipartisan vote in favor of the Credit Cardholders' Bill of Rights and to working with the Senate to send this critical pro-consumer legislation to President Obama for his signature into law."
I support this long over due legislation and my hope it passes both houses and goes to Presidents Obama's signature. It must be done quickly because many working familes are being scammed by these credit card companies and the american people should never be subject to such practices of excessive credit card fees, sky-high interest rates, and unfair, incomprehensible agreements that credit card companies revise at will.
thanks
Posted by: Daniel Ramirez Jr | April 23, 2009 at 12:17 PM