GOP senators block effort to freeze credit card interest rates
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- bansheewail
- added this
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more from Current Tonight:
http://rawstory.com/2009/11/gop-senators-blocking-effort-freeze-credi...
Republican senators on Wednesday blocked an effort to debate a bill that would prevent credit card companies from raising interest rates ahead of new regulations coming into force next year.The move angered congressional Democrats who were pushing for an emergency freeze on credit card rates.
"I’m extremely disappointed that the financial health of millions of American taxpayers has been completely brushed aside by a handful of Wall Street banking interests in the US Senate," Rep. Betsy Markey (D-CO) said, as quoted in the Coloradoan.
Sen. Chris Dodd (D-CT), who heads the Senate Banking Committee, had authored a bill that would have prevented credit card issuers from hiking interest rates ahead of a new law coming into effect in February that restricts how and when rates can be raised.
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- groups:
- Current Tonight, US Politics
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- tags:
- News and Politics, US Politics, Money, Finance, 6 more
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artemis6
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A new low . May they rot .
- 3 months ago
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artemis6
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neocongo
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There's just no defense for this kind of corporate ass licking. At least the 10% of Democrats who are blue dogs have to get corporate campaign contributions. Republicans and their Senate and House members need no funds. They just like the taste of corporate ass.
- 3 months ago
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neocongo
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pigmonkey
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God forbid we help out the small guy.
- 3 months ago
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pigmonkey
