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




                 CREDIT CARDHOLDERS' BILL OF RIGHTS ACT

  (Mr. HALL of New York asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. HALL of New York. Madam Speaker, I rise today in support of the 
Credit Cardholders' Bill of Rights. It's about time that we passed 
legislation to protect consumers from the abusive practices of credit 
card companies. Consumers have paid the price for a lack of regulation 
with excessive fees, sky-high interest rates and unfair, 
incomprehensible agreements that credit card companies revise at will.
  The Credit Cardholders' Bill of Rights will end these practices, 
leveling the playing field for people who play by the rules. It 
requires credit card companies to give cardholders advance notice of an 
interest rate hike; it ends tricks and traps that make cardholders 
incur rate hikes and unreasonable fees, and it shields cardholders from 
misleading terms while protecting vulnerable consumers from fee-heavy 
subprime cards.
  Today's Credit Cardholders' Bill of Rights will help families and 
small businesses in the Hudson Valley and across the Nation. I urge its 
passage.

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