NY Congress members team up on Credit Cardholders' Bill of Rights

[tylerdee]

Source: Creditcards.com

It's Round 2 for Congress and the Credit Cardholders' Bill of Rights. New York Rep. Carolyn Maloney today said she is reintroducing the pro-consumer credit card bill for consideration by the new 111th Congress.

Read more: http://www.creditcards.com/credit-card-news/credit-cardholders-bill-reintroduced-1282.php

[meegbear]

1. As someone who had their rates jacked up to 31%, I say ...

GET IT PASSED NOW!!

[pjt7]

2. New York Rep. Carolyn Maloney

should be appointed NY Senator. She's the real deal.

[clear eye]

7. Amen n/t

[Hawaii Hiker]

3. They HAVE to do something with credit card abuses

I mean, it's one thing to raise someone's rates if they don't pay their bill(s), go over their limit, BUT some companies are raising people's rates because they exceeded 50% of their total credit availability, or they have too many hard inquiries on their credit report....Credit card companies are sky-rocketing interest rates for so many reasons, you can't even keep track of them all...

The credit card companies are truly abusing their power & Congress needs to step in....

[napi21]

4. How does this differ from what a dept of the Fed. Reserve already

approved? These new regs are to take effect in 2010.

http://www.ots.treas.gov/?p=PressReleases&ContentRecord_id=4a2b42c5-1e0b-8562-eb93-76deb8152159

[alstephenson]

5. It's my understanding that they would be implemented immediately.

Instead of in 2010.

[roguevalley]

6. 2010 is ruination for too many. if they can bail out the fuckers who

did this to us, they can bail out us.