Dodd Pushes for Credit Card Law Sooner Than Later
October 27th, 2009 • Related • Filed Under
By nemski
The House Financial Services Committee has passed legislation that will push up the start date of the credit card law from February 22nd to December 1st, reports The New York Times. The credit card law is an attempt to regulate the fees charged and other practices implemented by credit card companies (let’s not call them banks) that some may label as unfair and predatory.
The credit card companies say that the recent activity of raising interest rates has nothing to do with the impending implementation of the credit card law. Yeah, right.
Comment by Unstable Isotope on 27 October 2009 at 10:34 am:
I hope Democrats learn from this in regards with the health care legislation too. These private companies will screw us as long as they can unless forced not to.
Comment by cassandra_m on 27 October 2009 at 1:24 pm:
Dodd’s effort here would freeze the rate and fee increases credit card companies are furiously implementing which is a good thing.