Question of the Week: Credit Cardholders’ Bill of Rights Act
These questions are culled from phone calls, letters, faxes and e-mails sent to my Thousand Oaks, Solvang, and Washington offices. Each week I will add another question and answer.
Week of May 1, 2009
• Question: What position did you take on the Credit Cardholders’ Bill of Rights Act?
→ Answer: Thank you for contacting me about H.R. 627, the Credit Cardholders’ Bill of Rights Act of 2009. I voted for the bill.
This legislation aims to level the playing field between credit card companies and consumers. It would protect cardholders against arbitrary rate increases, due date gimmicks, and misleading terms. It would prevent credit card companies from imposing excessive fees on cardholders. It also would require Congress to provide better oversight of the credit card industry.
With my support, the House of Representatives passed H.R. 627 on April 30, 2009, by a vote of 357-70. It now awaits consideration by the Senate.
For more information about my economic positions, please see my Economy page.
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