Legislators Push Early Start For Credit Card Rules

Publication: NPR

Author: Audie Cornish


10/06/2009 - The new Credit Card Reform Act is supposed to protect consumers against high fees, surprise hikes in interest rates and abusive billing practices. The law passed in May and is not set to take effect until February. But with the holiday shopping season just weeks away, some lawmakers on Capitol Hill are pushing to move up the start date. They complain that credit card companies have been taking advantage of the lag time: raising interest rates, slashing credit limits and switching customers from fixed-rate to variable-rate cards.

Nick Bourke of the Pew Safe Credit Cards Project talks about the provisions of the law on NPR's "Morning Edition."

Listen to Audie Cornish's story Legislators Push Early Start For Credit Card Rules or read the transcript on NPR's Web site.

Pew is no longer active in this line of work, but for more information visit the Safe Credit Cards Project on PewHealth.org.

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