The Credit Cardholders’ Bill of Rights: Providing New Protections for Consumers

Thursday, March 13, 2008, 10:00 a.m., 2128 Rayburn House Office Building
FI and Consumer Credit

 Subcommittee on Financial Institutions and Consumer Credit to Hold Hearing on the Credit Cardholders’ Bill of Rights

Washington, D.C. – Rep. Carolyn B. Maloney (NY-14), Chair of the Financial Services Subcommittee on Financial Institutions and Consumer Credit, announced today that the subcommittee will hold a hearing on the “The Credit Cardholders’ Bill of Rights: Providing New Protections for Consumers,” Maloney’s legislation to end abusive credit card industry practices and provide important consumer protections to credit cardholders.  The subcommittee will hear from consumers, legal and economic experts, and credit card industry representatives. 

Subcommittee Chairwoman Maloney said, “In recent years, the playing field between card companies and cardholders has become very one-sided.  A credit card agreement is supposed to be a contract, but what good is a contract when only one party has any power to make decisions?  We need to level the playing field, and the balanced reforms in this legislation will help do just that.”