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    Thursday, May 17, 2007

    The Credit CARD Act

    Usually, I have a natural suspicion of obviously-named bills (see: Patriot Act, No Child Left Behind, etc.).  Not in this case.  I bring you... The Credit CARD Act if 2007 .
    A BILL

    To amend the Consumer Credit Protection Act to ban abusive credit practices, enhance consumer disclosures, protect underage consumers, and for other purposes.

    Where discovered?  Why, The Consumerist, of course.  It's easier to buy into a bill when they are into it.
    The Credit CARD Act Of 2007 is a bill currently before Congress aiming to end some of the credit card industry's anti-consumer practices. Among H. R. 1461's proposals:

    • Advance notice of interest rate increases
    • End universal default clauses, the premise that they can raise your credit card interest rate if your credit score changes
    • Prohibit credit cards being issued to minors without a parental signature

    Here's your chance to stem unadulterated evil, people.  Don't blow this.  Support positive changes in the things that drive you crazy in your everyday life, then marvel at the improvements in your daily existence.

    1 Comment:

    Anonymous said...

    Now if only they could do something about credit cards offering air miles and actually letting you use the miles when you want to.

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