The House of Representatives recently passed the Credit Cardholders Bill of Rights. Next, the Senate needs to pass companion legislation so the bill's important consumer protections can become law. Send an email to Senator Christopher Dodd, Chair of the Banking Committee, and ask him to include credit card rescue legislation in the “bailout” Congress is considering. We need Senator Dodd to send a message that Wall Street isn’t the only street in America that matters to Capitol Hill!
Please protect credit card consumers as part of legislation you are considering that would rescue lending firms. I recently became aware of credit card industry “insiders” speaking out against the deceptive practices their firms used to keep consumers on a perpetual debt treadmill. We need the Senate to ensure that cash-strapped consumers won’t continue to be gouged by these deceptive and unfair practices by many of the same financial institutions that will benefit from the “bailout” proposed by the Administration. Please send the message that Wall Street isn’t the only street in America that matters to Capitol Hill.
The traps and tricks that credit card companies use to increase their profits are causing credit card balances for many families to balloon out of control, pushing them towards financial catastrophe. Americans now carry about $850 billion in credit card debt. The number of families that are behind in paying their credit card bills – a sign of serious financial problems to come – are at their highest level since the recession of 2002. Thank you for your attention.