H.R. 627

Folks, I just left the House floor and couldn’t wait to report the good news that the Credit Cardholders’ Bill of Rights (HR 627) just passed in the House.

A special ‘thank you’ is particularly in order for Congresswoman Maloney of New York, who championed the legislation, and our own Representatives Brad Miller and Mel Watt who supported the measure through the Financial Services Committee.

The Credit Cardholders’ Bill of Rights will provide crucial protections against a number of unfair credit card practices, such as the arbitrary interest rate increases that have become all too common in these times of economic uncertainty.