[Congressional Record Volume 155, Number 78 (Wednesday, May 20, 2009)]
[House]
[Page H5806]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   CREDIT CARDHOLDERS' BILL OF RIGHTS

  (Mr. SIRES asked and was given permission to address the House for 1 
minute.)
  Mr. SIRES. Mr. Speaker, now is the time to stand up for American 
consumers. Too many families and hardworking Americans are struggling 
through this difficult economic recession. Credit card companies that 
charge unwarranted and unanticipated fees have been hitting Americans 
hard during our economic hardship. Despite massive government 
intervention to encourage lending, many credit card companies are still 
cutting back on credit, imposing new fees and raising rates--even for 
those who pay on time and never go over the limit. This is 
unacceptable.
  In passing the Credit Cardholders' Bill of Rights, we will even the 
playing field by providing critical protections against these unfair, 
yet all too common, credit card practices. This bill will also provide 
tough new regulations on credit and companies in order to protect 
consumers from excessive fees, enormous interest rates, and unfair 
agreements.
  Ending abusive credit card practices that continue to drive America 
deeper and deeper into debt is a critical element in our economic 
recovery.

                          ____________________