Obama to hold town hall meeting on credit cards this week
Obama to hold town hall meeting on credit cards this week
Dodd sponsored The Credit Card Accountability, Responsibility and Disclosure (or Credit CARD) Act (S. 414) -- a tougher Senate version of the Credit Cardholders' Bill of Rights, which passed by an overwhelming 357-70 vote in the U.S. House of Representatives on April 30. Senate passage was less certain, however, until Dodd and Shelby worked out a bipartisan compromise. Senate Majority Leader Sen. Harry Reid praised the Dodd-Shelby legislation. Dodd sponsored The Credit Card Accountability, Responsibility and Disclosure (or Credit CARD) Act (S. 414) -- a tougher Senate version of the Credit Cardholders' Bill of Rights, which passed by an overwhelming 357-70 vote in the U.S. House of Representatives on April 30. Senate passage was less certain, however, until Dodd and Shelby worked out a bipartisan compromise. Senate Majority Leader Sen. Harry Reid praised the Dodd-Shelby legislation.
"It's a very important piece of legislation. It's bipartisan in nature," Reid said.
The legislation in both the House and Senate largely mirror sweeping new federal rules scheduled to take effect July 1, 2010. The bills also include additional consumer protections endorsed by the White House that call for transparency, fairness in billing and marketing, disclosure and oversight of credit cards. Lawmakers said they wanted to codify the federal rules into law so they would be more difficult to revise."
Blogger Note:
Check out this heavily editted Bill (from above). The First 47 pages are stricken!
.PDF file: (S. 414)
Dodd sponsored The Credit Card Accountability, Responsibility and Disclosure (or Credit CARD) Act (S. 414) -- a tougher Senate version of the Credit Cardholders' Bill of Rights, which passed by an overwhelming 357-70 vote in the U.S. House of Representatives on April 30. Senate passage was less certain, however, until Dodd and Shelby worked out a bipartisan compromise. Senate Majority Leader Sen. Harry Reid praised the Dodd-Shelby legislation. Dodd sponsored The Credit Card Accountability, Responsibility and Disclosure (or Credit CARD) Act (S. 414) -- a tougher Senate version of the Credit Cardholders' Bill of Rights, which passed by an overwhelming 357-70 vote in the U.S. House of Representatives on April 30. Senate passage was less certain, however, until Dodd and Shelby worked out a bipartisan compromise. Senate Majority Leader Sen. Harry Reid praised the Dodd-Shelby legislation.
"It's a very important piece of legislation. It's bipartisan in nature," Reid said.
The legislation in both the House and Senate largely mirror sweeping new federal rules scheduled to take effect July 1, 2010. The bills also include additional consumer protections endorsed by the White House that call for transparency, fairness in billing and marketing, disclosure and oversight of credit cards. Lawmakers said they wanted to codify the federal rules into law so they would be more difficult to revise."
Blogger Note:
Check out this heavily editted Bill (from above). The First 47 pages are stricken!
.PDF file: (S. 414)
posted by gr8fuldaniel | 9:40 AM
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