[Congressional Record Volume 156, Number 23 (Tuesday, February 23, 2010)]
[House]
[Page H654]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                                CARD ACT

  (Mr. KLEIN of Florida asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. KLEIN of Florida. Mr. Speaker, on Monday, we saw a tough new law 
go into effect. The CARD Act cracks down on the abusive practices of 
some credit card companies and contains strict protections for 
consumers long overdue, including banning unfair interest rate 
increases and outlawing abusive fees and penalties by credit card 
companies.
  Putting this law into effect marks a new day for consumers and 
families in my district in south Florida. We finally have put in place 
some commonsense provisions to ensure that hardworking people aren't 
unfairly taken advantage of by credit card companies.
  Too many of us have seen the tricks used by credit card companies--
whether it is changing the date the bill is due or doubling or tripling 
the interest rates with no notice at all. I am glad to say those days 
are long gone.
  This bill lives up to its name as a true Credit Card Holders' Bill of 
Rights. I look forward to working with my constituents to continue to 
make sure that we put the needs of local consumers first.

                          ____________________