Delegation urges credit card companies to end unfair hikes (Los Alamos Monitor) PDF Print E-mail

Los Alamos Monitor
October 8, 2009

Wednesday, Reps. Harry Teague, Martin Heinrich and Ben Ray Luján joined 15 of their colleagues in the House in sending a letter to the country’s major credit card companies, calling on them to pledge to not change the terms on consumer credit card accounts ahead of federal credit card reform legislation slated to go into effect early next year.

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“Earlier this year Congress and the Administration took action to prevent credit card companies from taking advantage of hardworking families with the Credit CARD Act, a bill I cosponsored,” said Congressman Ben Ray Luján. “Unfortunately credit card companies are attempting to circumvent this law by rapidly hiking up interest rates before the law takes effect. I urge these companies to stop these rate increases that are hurting families across the country.”

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