On July 31, 2008, the Credit Cardholders Bill of Rights Act of 2008 passed through the House Financial Services Committee. This bill aims to curb outrageous credit card practices like: bait and switch contract clauses, outrageous interest rate increases, prohibiting credit cards to minors, etc.
It is important for all of us to call our local representative. Please click here for a link to all the Florida members of the House of Representatives to find your local representative and contact them today. This bill needs to become law. It is not the best that our leaders can do, but it is a start. Remember, our elected officials have to play politics with the lobbyists. So, please call your local representative and ask them to vote for H.R. 5244 as it exists today. Otherwise, our leaders may muck up the bill with amendments.
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Credit Cardholders Bill of Rights Act of 2008
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