Democrats Seek To Move Up Credit Card Reform Deadline

Published on October 1, 2009 by Kathleen Munden

Representatives Carolyn Maloney (D-N.Y.) and Barney Frank (D-Mass.) are proposing legislation that will advance the implementation date to December 1, 2009, for the regulations limiting credit card interest rates and fees. The regulations, approved by Congress and signed into law earlier this year by President Obama, were scheduled to take effect on February 22, 2010. The new rules will sharply restrict credit card issuers’ powers to raise interest rates on cardholders’ existing balances, charge some types of fees, and assess cardholders with unreasonable penalties.

Categories: Consumer Law Basics

Trackback URL

http://www.texasbankruptcylawyer.com/consumer_law_basics/democrats-seek-to-move-up-credit-card-reform-deadline/trackback/

Kraft & Associates is a federally designated Debt Relief Agency under the United States Bankruptcy Code. We assist people with finding solutions to their debt problems including, where appropriate, assisting them with the filing of petitions for relief under the U.S. Bankruptcy Code.

Legal Disclaimer: This Blog and all materials on it have been prepared by Kraft & Associates for informational purposes only and not as legal advice. While we do attempt to keep our material up-to-date, we cannot guarantee that it is either complete or current, and it may not reflect the latest legal developments. Do not act upon any information contained in this Blog without seeking the advice of legal counsel licensed in your own state. Kraft & Associates does not wish to represent anyone who is in a state where this Blog fails to comply with all laws and ethical rules of that state. Transmission of this information is not intended to create, and receipt does not constitute, an attorney-client relationship. I am NOT your lawyer until you and I have each signed a written contract stating that I am your lawyer. The attorneys and employees of Kraft & Associates make every effort to reply to e-mail inquiries as promptly as possible. However, we cannot guarantee that we will always be able to quickly respond to your questions. If you have a time-sensitive inquiry, please call us at (214) 999-9999 or (800) 989-9999. Please feel free to send us e-mail with your comments, suggestions or questions. But understand that sending e-mail to our firm or to any attorney in the firm does not establish an attorney-client relationship. Communications between you and an attorney are not privileged until the parties have agreed upon legal representation and we cannot agree to maintain the confidentiality of such communications. Please do not send confidential information to us via e-mail without first communicating directly with us by telephone. E-mail is not a secure medium of communication. Links to other Blogs or to Web sites are not intended as endorsements of the linked sites. The linked sites are not under the control of Kraft & Associates and we are not responsible for the contents of any linked site. If you have read this whole disclaimer, congratulations on your perseverance. Please let us know any way we can help you. The entire contents of this Blog are copyright © 1997-2009, Kraft & Associates. All rights reserved. In addition, certain articles at this site are reprinted with permission as indicated therein.

Texas Bankruptcy Lawyer