Senate Passes Credit Card Overhaul Bill

Posted: Tuesday, May 19, 2009 | Posted by Chico Brisbane | Labels: , , ,

The Senate voted on Tuesday to prohibit credit card companies from arbitrarily raising a person's interest rate and charging many of the exorbitant fees that have become customary — and crippling — to cash-strapped consumers. The overwhelming bipartisan vote of 90-5 was lawmakers' way of telling Americans that they haven't been forgotten amid a recession that has left hundreds of thousands jobless or facing foreclosure.
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