Media Alert: Janne O'Donnell to Attend White House Signing of Credit Card Bill

(May 22, 2009) Media Contacts:  Roberta Sklar: 917-704-6358, Geoffrey Knox: 212-229-0540

Mother of Son Who Committed Suicide as College Junior and $10,000 in Credit Card Debt To Attend White House Signing Of Credit Card Reform Bill

“I came to Washington ten years ago, after my son Sean committed suicide while in credit card debt, to raise awareness of how credit card companies were preying on our children. Today, we are seeing some reform.”
– Janne O’Donnell

WHEN:        May 22, 2009, 3:00 PM EDT

WHERE:      White House Rose Garden

WHAT:        Janne O’Donnell, a member of the Board of Directors of Americans for Fairness in Lending (AFFIL) will attend today’s Bill Signing for Credit Card Accountability, Responsibility, and Disclosure Act in the White House Rose Garden.

WHY:        The ceremony marks the passage of the nation’s first law reforming credit card lending.  The law will restrict rate increases on existing balances, require fair application of payments, and provide sensible due dates and time to pay.

The law will also protect college students from unscrupulous credit card lenders.  Under the new law, lenders will only be able to issue cards to people under the age of 21 who demonstrate their ability to pay the debt back.  It is designed to prevent students from becoming ensnared in high-interest, high-fee debt, which can have tragic consequences.

WHO:        Janne O’Donnell is the mother is Sean Moyer, a college student who committed suicide on February 7, 1998.  Moyer was a junior at the University of Oklahoma and $10,000 in debt to credit card companies at the time of his death.

“I came to Washington ten years ago, after my son Sean committed suicide while in credit card debt, to try and raise awareness of how credit card companies were preying on our children,” said O’Donnell.  “Finally, thanks to the work of thousands of outraged consumers around the country, and organizations like AFFIL, we are seeing some reform today.  It is wonderful to return to Washington to celebrate this victory.”

Since her son’s death, O’Donnell has worked tirelessly to reform credit card lending to college students.   See http://www.rsok.com/~sean and http://www.affil.org/about/board#Janne.