House Approves Credit Cardholders' Bill of Rights
Thursday, April 30, 2009
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WASHINGTON, D.C. – House Majority Whip James E. Clyburn today released the following statement on HR 627 the Credit Cardholders Bill of Rights.
“A deal’s a deal. And finally with the Credit Cardholders’ Bill of Rights, Americans can be assured that the agreement they enter into with credit card companies won’t be arbitrarily changed without their knowledge. It protects against arbitrary interest rate increases; unfair penalties; due-date gimmicks; misleading terms; and other unfair practices. As Americans struggle with job loss and a slowing economy this legislation comes at the right time by leveling the playing field with common sense regulations.”
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