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Tag Archives: Congress

On House floor, congressman goes all Edward Scissorhands on credit cards

Daniel Ray

Gesturing forcefully, and almost Howard Beale-like in his zeal, Rep. Hansen Clarke used his five-minute speech to call on all Americans to cut up their credit cards — and then whipped out a pair of blue-handled scissors to demonstrate. Roll the tape, C-SPAN!

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Emily’s list: Halloween edition

Emily Crone

BOO! It’s Halloween, and that means it’s time to get scared. But are your bank accounts and credit card statements frightening you instead of haunted houses and horror movies? Read these posts from the best of the personal blogosphere to help you face your financial fears.
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Congressional testimony: Student credit card issuers under investigation

Daniel Ray

Credit card issuers’ marketing practices on college campuses got a raking-over from a congressional subcommittee Thursday, and one witness said it’s about to get worse: The agreements between colleges and card companies are under investigation by the New York Attorney General, one witness revealed.
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Card issuers get an earful from House Democrats

Daniel Ray

The “Credit Cardholders Bill of Rights” bill got a first hearing in the House Thursday, and it doesn’t bode well for an industry that says it needs no additional oversight to have the overseers recount personal tales of how they got stiffed by their credit card issuer.
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Congresswoman circulates far-reaching credit card bill

Daniel Ray

Congressional heat on the credit card industry just turned up a notch. A key congresswoman is floating a bill that would abolish many of the card issuers’ practices that consumers find most offensive, including double-cycle billing, universal default and hiding rate changes in tiny type.
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