House Passes the Credit Card Bill of Rights

Written by admin - 2 Comments

In case you missed it, the House of Representatives has passed the Credit Card Bill of Rights by a 312-112 margin. This bill, which still has to pass the Senate and be signed into law by the President, puts into law a number of new regulations designed to protect Americans from “abusive lending practices.”

Honestly, I’m surprised that slightly more than a quarter of the House would vote against this, as there’s no real downside for the people they’re supposed to be representing. Interestingly, the House Democrats voted 228-1 in favor of the measure, whereas House Republicans voted 111-84 against it. If you’re curious to see how your Rep voted, you can check the list here.

Published on September 26th, 2008 - 2 Comments
Filed under: Credit Card News
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Comments (scroll down to add your own):

Shows you where their priorities lie, I guess.
Comment by Blaine Moore — Sep 26th 2008 @ 4:36 pm
Besides seeing who voted for or against this bill, I’d like to know what exactly is in it that would be considered “abusive lending practices” and how this bill would address such things.
Comment by Buubs — Nov 26th 2008 @ 5:20 am