Senate Pushed On Credit Card Measures

Law360, New York (March 7, 2007, 12:00 AM EST) -- Consumers should have the right to sue a credit card company if they become victims of the company’s illegal activities, a consumer advocate attorney told a Senate subcommittee Wednesday.

The Permanent Subcommittee on Investigations held a hearing on questionable credit card practices, including how grace periods, interest rates and fees are applied and disclosed. The hearing drew upon a September 2006 General Accounting Office report, which detailed a host of finance charges, fees and disclosure practices associated with 28 popular credit cards.

“When I announced the...
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