Senate votes to limit credit card rate changes
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May 19th, 2009 12:44 |
WASHINGTON – The Senate voted on Tuesday to prohibit credit card companies from arbitrarily raising a person’s interest rate and charging many of the exorbitant fees that have become customary — and crippling — to cash-strapped consumers.
The overwhelming bipartisan vote of 90-5 was lawmakers’ way of telling Americans that they haven’t been forgotten amid a recession that has left hundreds of thousands jobless or facing foreclosure. (more…)
