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Credit card bill hailed by consumers, abhorred by bankers (access required)

by Rebecca Tonn

Published: May 5,2009

Time posted: 10:43 am

Tags: Credit Card Holders' Bill of Rights, Independent Bankers of Colorado

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At first glance, the Credit Card Holders' Bill of Rights seems to protect consumers, because it would ban retroactive rate hikes, double-cycle billing, misleading contract language and issuance to applicants under age 18. But financial industry pundits don't support all components of the bill because of what it could cost the banking industry. The bill, H.R. 627, ...





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