[Congressional Record (Bound Edition), Volume 155 (2009), Part 9]
[House]
[Pages 11163-11164]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 CREDIT CARDHOLDERS' BILL OF RIGHTS ACT

  (Ms. JACKSON-LEE of Texas asked and was given permission to address 
the House for 1 minute.)
  Ms. JACKSON-LEE of Texas. Madam Speaker, enough is enough. Today, I 
rise to add my appreciation to Carolyn Maloney and to all of those who 
finally got it all in place to be able to say ``no'' to the credit card 
abuses that have been abusing Americans on a constant basis.
  H.R. 627, the Credit Cardholders' Bill of Rights, is imperative to be 
passed today. It ends unfair, arbitrary interest rate increases, and 
lets consumers set hard credit limits. It stops excessive over-the-
limit fees, ends unfair penalties for cardholders who pay on time, 
requires the fair allocation of consumer payments, protects cardholders 
from due-date gimmicks. As well, it

[[Page 11164]]

has amendments that will stop the proliferating and the sale of credit 
cards to college students.
  Can you imagine having a credit card and having a contract, and all 
of a sudden, like an adjustable rate, your rate spikes up without any 
knowledge and without any notice? It stops the small print where they 
can say all manner of things and never, never get the truth told.
  Thank you for H.R. 627.

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