This surprises us
May 21, 2009 | Center for Responsible Lending, alternatives, federal legislation, industry | Comments (0)The Center for Responsible Lending praised the credit card bill without even tweaking Senators about not passing a rate cap. From the story:
The Center for Responsible Lending, one of numerous consumer advocacy groups that had long sought credit card reform, praised the Senate’s action.
“This bill, which received overwhelming bipartisan support, will provide consumers with significant protections from industry practices that extract billions of dollars in unfair fees and interest from cardholders every year. We applaud the Committee for crafting safeguards for millions of American families at a time when our country is experiencing the worst downturn since the Great Depression,” said CRL’s president, Michael Calhoun, in a statement.
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