Consumer Law

Hearing on Credit Card Consumer Protections

By Jeff Sovern

The Financial Institutions and Consumer Credit Subcommittee (Chairman Maloney, D-N.Y.) of the House Financial Services Committee is scheduled to hold a hearing tomorrow titled "The Credit Cardholders' Bill of Rights: Providing New Protections for Consumers.  The hearing is on HR 5244, described as a bill to amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes.  The witnesses scheduled to appear include: Sen. Ron Wyden, D-Ore.; Sen. Carl Levin, D-Mich; credit card abuse victims Steven Autrey, Susan Wones, Marvin Weatherspoon, Stephen M. Strachan; Sandra Braunstein, director of the Federal Reserve?s Consumer Affairs Division; Marty Gruenberg, the FDIC?s deputy director; Julie Williams, the OCC?s deputy director and general counsel; John Bowman, the OTS?s general counsel; John Carey, Citi Cards?s chief administrative officer and executive vice president, Larry Sharnak, American Express?s executive vice president and general manager; Carlos Minetti, Discover Financial Services?s executive vice president; Travis B. Plunkett Consumer Federation of America?s legislative director; Linda Sherry of Consumer Action; and Ed Mierzwinski of U.S. Public Interest Research Group. 

Full post as published by CL&P Blog on April 16, 2008 (boomark / email).