Reid Cosponsors Bill To Halt Rising Credit Card Rates

Nevada Senator Harry Reid is cosponsoring a bill to prevent credit card companies from raising rates until laws change in February 2010. This legislation will specifically stop credit card companies from increasing the annual percentage rate, fee, or finance charge on an outstanding balance -- or from changing the terms on repayments of outstanding balances. In light of the economic struggles facing many Nevadans, Senator Reid said, Im pleased to sponsor the Credit Card Rate Freeze Act because it fights back against unfair lending practices that hurt consumers and helps Nevadans keep more of their hard-earned money.

Category:

News & Politics

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• Nevada
• Senator
• Harry
• Reid
• bill
• credit
• card
• freeze
• act
• consumers
• protect

[Davidbzm01]

Here's how you start to fix all these problems

Everyone.

Take that credit card and cut it up.

Call them and cancel the account.

Dont just stop useing it because they are working on a new penalty charge for "NOT USING" your card.

they will crap themselves when 40 million people call them up.. Then they wont have a choice but to fix it. Its as easy as that...

I declare March 1st 2010 the day we all call For card Co and take control.. pass it on.

[johnnyd63]

Great idea.....After all of my cards are now at 29.99%.Congress fucked this up so bad,it's almost funny.Giving an almost year lead time to an industry that historically has KILLED the consumer.

[drharris2020]

Gee, add this to the list of obvious things the government didn't see coming.