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Credit Card Industry Defeated for Now
Hidden penalties, sudden interest rate hikes, and deceptive language are just a few of the questionable tactics used by credit card companies to extract money from increasingly stressed consumers. Now, some on Capitol Hill are trying to regulate the more abusive practices.
With bills actually moving through both houses of Congress, the credit card lobby is finding itself on the defensive, and turning out in force to oppose the legislation.
Keywords: Economy, Government, American Bankers Association, Carolyn Maloney, Christopher Dodd, Congress, Consumer Federation of America, consumers, credit, credit cards, debt, Ed Mierzwinski, Ho, Jeb Hensarling, Kenneth Clayton, Obama, Senate Banking Committee, Travis Plunkett, USPIRG
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