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Credit Card Fairness for Consumers
May 12, 2009 — Democratic Senators today joined consumer protection advocates in discussing new legislation to put fairness and common sense back into credit cards. The bipartisan CARD Act (Credit Card Accountability, Responsibility and Disclosure) is authored by Senator Dodd and cosponsored by Senators Levin, Menendez, Merkley, and 18 others. Democrats are working to protect consumers from excessive fees, ever-changing interest rates and complex contracts seemingly designed to keep people in debt. Their plan will also strengthen oversight of the credit card industry.
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The Senate will convene at 2:00 p.m. and proceed to a period of morning business until 3:00 p.m. with Senators permitted to speak for up to ten minutes each. Following morning business, the Senate will resume consideration of H.R.3590, with Senator Reid, or designee, permitted to offer the first amendment to the Reid substitute; further, that Senator McConnell, or designee, be permitted to offer the next amendment to the substitute with no other amendments in order during Monday's session. There will be no roll call votes during Monday's session.
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