sliver
5th May 2009, 22:45
Congress has just about completed the new legislation on credit card "reform".
It doesn't become effective until next year! I sent the following email to my congressmen today. I hope others will also.
Sliver
To: Congressmen Carl Levin and Bart Stupak
I am appalled at the weak attempt by congress to regulate the credit card industry! The proposed legislation gives them 9 months to a year to stop these practices??? If I see a robbery in progress is it morally right for me to say I'll do something about it a year from now?? I see no limits on the fees or interest charged!! Why isn't congress requiring the FED to take immediate action??? The industry says maybe less people will be able to obtain cards if the legislation is too strict. Maybe those people shouldn't have cards!!!
The legislation won't affect myself much because I have one card with no balance due, but I can't stand by and watch a robbery in progress without trying to see justice done. Congress shouldn't either.
Respectfully:
It doesn't become effective until next year! I sent the following email to my congressmen today. I hope others will also.
Sliver
To: Congressmen Carl Levin and Bart Stupak
I am appalled at the weak attempt by congress to regulate the credit card industry! The proposed legislation gives them 9 months to a year to stop these practices??? If I see a robbery in progress is it morally right for me to say I'll do something about it a year from now?? I see no limits on the fees or interest charged!! Why isn't congress requiring the FED to take immediate action??? The industry says maybe less people will be able to obtain cards if the legislation is too strict. Maybe those people shouldn't have cards!!!
The legislation won't affect myself much because I have one card with no balance due, but I can't stand by and watch a robbery in progress without trying to see justice done. Congress shouldn't either.
Respectfully: