House Passes Credit Card Crackdown Legislation
The House moments ago passed a bill placing new restrictions on companies that issues credit cards by a vote of 361-64. The vote follows yesterday's Senate passage of the bill, which now heads for President Obama's promised signature.
The House also passed an amendment to allow firearms owners to carry their weapons into national parks, 279-147.
The bill includes a number of restrictions on credit card companies, which advocates say are designed to protect card holders, such as prohibiting card issuers from retroactively raising interest rates on card customers unless their bills are more than 60 days past due.
You can read more provisions of the bill here.
May 20, 2009; 2:26 PM ET
Categories: The Ticker | Tags: Obama, credit cards
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