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Rep. Barney Frank: They've Had Five And A Half Months To Study It
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From : NancyPelosi
Added: Nov 5, 2009
This afternoon, the House passed H.R. 3639, the Expedited CARD Reform for Consumers Act to speed up the credit card reforms. This bill will move up the effective date for nearly all of the credit card reforms to December 1, 2009 and marks another step forward in bringing consumers badly-needed relief. If abusive practices by the credit card industry had not accelerated with passage of the law, there would be no need to move up the implementation date. Chairman Barney Frank speaks out against the Republican Motion to Recommit saying, 'if this was so complicated to figure out, how do the banks manage to be able to increase so quickly? Apparently the banks have this problem--when it comes to implementing a law they're working with typewriters, when it comes to raising your rates retroactively... '
Category : News
Added: Nov 5, 2009
This afternoon, the House passed H.R. 3639, the Expedited CARD Reform for Consumers Act to speed up the credit card reforms. This bill will move up the effective date for nearly all of the credit card reforms to December 1, 2009 and marks another step forward in bringing consumers badly-needed relief. If abusive practices by the credit card industry had not accelerated with passage of the law, there would be no need to move up the implementation date. Chairman Barney Frank speaks out against the Republican Motion to Recommit saying, 'if this was so complicated to figure out, how do the banks manage to be able to increase so quickly? Apparently the banks have this problem--when it comes to implementing a law they're working with typewriters, when it comes to raising your rates retroactively... '
Category : News
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