WASHINGTON, D.C. – Congressman Ike Skelton (D-MO) announced today that Congress has approved H.R. 627, the Credit Cardholders’ Bill of Rights, a bipartisan bill that would put in place tough new protections for consumers facing excessive credit card fees, high interest rates, and incomprehensible agreements that credit card companies revise at will. 

“As Congress and the nonpartisan Government Accountability Office have studied credit card industry practices, it has become clear that the industry has been mistreating its consumers.  And, while I am pleased that the Federal Reserve took action last December to better regulate the credit card industry, it is important for Congress to now make their regulations even stronger by giving them the full force of the federal law.  
 
“The Credit Cardholders’ Bill of Rights will level the playing field between credit card issuers and cardholders by applying common-sense regulations.  It is a significant step forward in protecting consumer rights.  And, it serves as an example of how we can learn important lessons from our financial difficulties as a nation.

“Also, as a supporter of our Second Amendment right to bear arms, I am pleased that H.R. 627 includes a bipartisan amendment added in the Senate to ensure those who visit America’s national parks and wildlife refuges may carry a concealed firearm, if doing so is permitted under state law.  This provision will provide more uniform gun regulations on our federal lands and will ensure that law-abiding Americans who meet the gun safety requirements of state law may carry a concealed firearm without disarming,” said Skelton.

          Today, the U.S. House of Representatives approved H.R. 627.  During consideration of H.R. 627 in the U.S. Senate, an amendment on carrying concealed weapons in national parks and wildlife refuges was introduced and approved.  The Senate approved its version of the Credit Cardholders’ Bill of Rights, which included the gun-related amendment, on May 19, 2009.   H.R. 627 will now be sent to the President.  He has indicated that he will sign the bill into law.

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Congressman Ike Skelton (D-MO) serves as Chairman of the House Armed Services Committee . For further information, please contact Rebecca Loving or Whitney Frost at 202-225-2876, or check Congressman Skelton’s website at http://www.house.gov/skelton.