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Keep Writing, Faxing, Calling, Visiting, Your Representatives in Congress

Change is coming.  Today, the House Financial Services Committee approved a credit-card “bill of rights” (H.R. 627), by a vote of 48-19.  What should bring hope to a lot of the readers here, is the fact that our Representatives are hearing us loud and clear.  From a Bloomberg article written today:

“Lawmakers say they’re under increasing pressure from constituents to respond to rising interest rates and abrupt changes to consumers’ accounts.  Senator Robert Menendez, a New Jersey Democrat, cited complaints to his office in an April 20 letter to the U.S. Treasury and urged the department to consider restrictions on any bank receiving government support under the Troubled Assets Relief Program.”

The credit card companies have had their way for too long.  Contact your Representative, or Senator.  Let them know that the Fed Rules that are going into effect next year are not enough.  Changes in terms for “any reason,” at the sole discretion of the credit card companies, leaves no choice for the consumer, and we must demand action.

The time to act is now.  Representative Steny Hoyer has stated that he believes a vote on the bill will come next week.  The Obama administration is set to meet with executives of the credit card industry tomorrow.  We can, and we must end these abusive practices.