Congress Eyes Credit Card Reform In 1st Senate Hearing.

From: Credit Union Journal | Date: January 29, 2007| Author: | Copyright information

WASHINGTON -- The new Democratic-controlled Congress last week began a series of hearings on the credit card industry that are expected to result in legislation to rein in credit card issuers, increase consumer disclosures and possibly regulate the multi-billion market for interchange fees.

The Democrats made it clear they plan to revisit some of the issues swept aside by the previous, Republican-controlled Congress during the debate over bankruptcy, which was led by the credit card industry.

"I would like to put the credit card industry and the issuing banks on notice, ...

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