AFFIL and other groups commend Presidential action on credit cards

(April 23, 2009)  In the wake of the President’s meeting today with credit card executives, a broad coalition of national consumer groups and nonprofit organizations commended the President for his strong statements in support of curbing abusive practices and urged the Administration to offer specific proposals soon for broad, timely legislative reform.

The groups also applauded passage by the House Financial Services Committee yesterday of the Credit Cardholders Bill of Rights, championed by Rep. Carolyn Maloney. The Maloney Bill, as well as legislation moving to the Senate Floor sponsored by Senator Chris Dodd, signals a focus on real consumer protections and a welcome change to credit card company business as usual.

As Rep. Maloney’s bill moves to the House floor, we urge the Senate to take up Sen. Dodd’s Credit CARD Act and commit to credit card reform and a fair shake for millions of American cardholders.

See a PDF of the statement.