ABSTRACT

President Obama Discusses Credit Card Principles Following Meeting with Credit Card Executives [April 23, 2009]   [open pdf - 56KB]

"President Obama met with representatives from the credit card industry this afternoon [April 23, 2009] to discuss the impact of the current economic crisis on consumers. He has been a strong proponent of cleaning up the practices of the credit card industry since he was a Senator and he called for measures to strengthen consumer protection in the credit card market during the campaign. Credit cards have been made unnecessarily complicated for consumers, often leading them to pay more than they reasonably expect. The Federal Reserve has taken a strong first step towards improving disclosures and ending unfair practices. Leaders in the House, including Chairman Frank and Representatives Maloney and Gutierrez, and in the Senate, including Chairman Dodd and Senator Levin, have drafted bills that will codify and strengthen these new regulations." The President also highlighted some principals that may be part of final legislation.

Publisher:
Date:
2009-04-23
Copyright:
Public Domain
Retrieved From:
White House: http://www.whitehouse.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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