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fees, sudden rate increases
(Image from article: "Obama Favors Limits on Credit Card Fees")

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Credit Card Crackdown Bill Heads to President

Credit Card Crackdown Bill Heads to President

In 361-64 vote, House gives final approval to legislation, ensuring that Obama will be able to sign the bill into law by Memorial Day.

 

Obama Favors Limits on Credit Card Fees

Obama Favors Limits on Credit Card Fees

In his weekly radio address, the president said Americans “have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all too common to our credit card industry.”.

 

Credit card legislation nearing success

Legislation to rein in credit card practices and eliminate sudden rate hikes and late fees that have entangled millions of American consumers is getting closer to becoming law, bolstered by presidential pressure and the backdrop of economic calamity.

 

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