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| U.S. Senate Committee on Homeland Security and Governmental Affairs |
| Permanent Subcommittee on Investigations |
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| Title: Credit Card Practices: Unfair Interest Rate Increases |
| Date: 12/4/07 |
| Time (EST): 9:30 AM |
| Place: Dirksen Senate Office Building, Rm. 106 |
| The Permanent Subcommittee on Investigations has scheduled a hearing, "Credit Card Practices: Unfair Interest Rate Increases," for Tuesday, December 4, 2007, at 9:30 a.m., in Room 106 of the Dirksen Senate Office Building.
The Subcommittee hearing will examine the circumstances under which credit card issuers may increase the interest rates of cardholders who are in compliance with the terms of their credit cards. This hearing will be a followup to the Subcommittee’s March 2007 hearing, which examined practices related to credit card grace periods, interest charges assessed against debt that was paid on time, and excessive fees.
Witnesses for the upcoming hearing will include a panel of cardholders who experienced interest rate increases, as well as representatives from credit card companies. |
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| Member
Statements |
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| Witnesses
Testimony
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Panel 1
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MILLARD GLASSHOF
[View
PDF]
, Consumer
, Milwaukee, WI |
Panel 2
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ROGER C. HOCHSCHILD
[View
PDF]
, President and Chief Operating Officer
, Discover Financial Services
, Riverwoods, IL |
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BRUCE L. HAMMONDS
[View
PDF]
, President, Bank of America Card Services
, Bank of America Corporation
, Wilmington, DE
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RYAN SCHNEIDER
[View
PDF]
, President for Card Services
, Capital One Financial Corporation
, McLean, VA |
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