Borrowers Given a Fair Shake
Borrowers Given a Fair Shake
A Historic Day for American Credit Cardholders
President Obama, with key congressional supporters from both sides of the aisle looking on, signs the historic Credit Cardholders' Bill of Rights into law on Friday, May 22, 2009.
Dear [ Decision Maker ] , On behalf of Americans seeking some shelter from this teeming economic crisis, thank you for passing the Credit Cardholders' Bill of Rights. We applaud you for doing your part to clean up abusive credit card practices by supporting the Credit Cardholders' Bill of Rights law. The whistle has finally been blown on unfair credit card industry business tactics that have mired Americans in debt for years. The Credit Cardholders' Bill of Rights came just in time. If deceptive card activities continued unchecked--as happened with subprime mortgages--the results would be even more devastating for America's cardholders and our struggling economy. Thank you for bolstering regulation and ushering in real reform. The Credit Cardholders' Bill of Rights is a victory for fair play and a step towards financial recovery. Your pro-consumer vote on this historic legislation will be remembered.
In appreciation, |
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| Background Information |
Financially troubled credit-card borrowers often owe more in penalty fees and interest charges than for purchases or cash advances.
