Rocky Road for Credit Card BillQuicklink submitted by Laudyms Permalink
|House Democrats are pushing legislation- the Credit Cardholders' Bill of Rights, sponsored by Rep. Carolyn Maloney (D-N.Y.)-that would force card companies to disclose looming rate increases, eliminate confusing fees and cease the retroactive application of hiked rates to existing balances. Republicans, siding with the banks, prefer to leave the task of reform to federal regulators, who are crafting new rules for the industry.|
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