Credit Card Industry Defeated – For Now

The American News Project produced this great video on last week’s credit card victories in Congress. As the video explains, these victories were huge milestones for the consumer movement.

The video features AFFIL favorites Travis Plunkett of the Consumer Federation of America and Ed Mierzwinski of US PIRG.  It points out that even after these recent victories in Congressional subcommittees, the industry will keep pushing to delay further action, because, as Ed puts it, “each delay means another customer whose rate they can raise, and whose penalty fees they can impose.  And they want that money.”