Update on my Credit Card Reform rant

August 9, 2009

A while ago I wrote a letter to the gummint folks about the credit card companies. Senator Robert P. Casey, Jr. has weighed in with an email in which he (or his staff) seem to understand what I was getting at:
After restating what was in The Credit Card Accountability Responsibility and Disclosure Act of 2009 “Credit CARD Act”, the email goes on:
“I understand that many Pennsylvanians need immediate relief from the abusive practices of some credit card companies. If you need immediate assistance, I encourage you to contact my Harrisburg office by calling (717) 231-7540 or writing to 22 S. Third Street, Suite 6A, Harrisburg, PA 17101. “

I will be calling, for sure. I do appreciate the offer of help, but one question still remains: Why are the credit card banks currently allowed to continue with abusive business as usual? Why was this not effective immediately – or at least in the same 45 day period they will be required to give us when they decide to change the terms of agreement?

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