[Congressional Record (Bound Edition), Volume 155 (2009), Part 8]
[House]
[Page 10890]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   CREDIT CARDHOLDERS' BILL OF RIGHTS

  (Mr. KAGEN asked and was given permission to address the House for 1 
minute.)
  Mr. KAGEN. Mr. Speaker, in these difficult economic times, we, as 
leaders, must ask ourselves the question, whose side are we on? Are we 
on the side of people--the consumers, the taxpayers, and hardworking 
families across the Nation? Well, I certainly am.
  Today, I rise in favor of the Credit Cardholders' Bill of Rights. For 
too long, hardworking Americans have been victimized by high fees, high 
interest rates, and confusing credit card agreements that these 
companies can change at will.
  The Credit Cardholders' Bill of Rights protects everyone from the 
unfair and often abusive practices that credit card companies put on 
everybody. It prevents credit card companies from unfairly increasing 
interest rates on existing balances.
  The Credit Cardholders' Bill of Rights will protect everyone. It ends 
unfair penalties for cardholders who pay on time, and it protects 
vulnerable consumers from high fees due to subprime credit cards. In 
short, it prevents these companies from constantly moving the goalposts 
and taking advantage of ordinary people who have done nothing wrong.
  Let's pass the Credit Cardholders' Bill of Rights and build a better 
Nation for everyone.

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