carolyn maloney

Wasting no time, the House Financial Services Committee is scheduled to mark up its credit card reform bill next Wednesday, according to a Democratic aide. Sponsored by Rep. Carolyn Maloney (D-N.Y.), the bill includes a slew of new consumer protections, giving card users longer notice of imminent rate increases and preventing banks from hiking rates [...]

Newly-minted Sen. Mark Udall (D-Col.), has scheduled a press call this afternoon to announce his plans to introduce legislation to end the abusive practices of credit card issuers. This isn’t enormous news — as a member of the House, Udall had strongly supported the lower chamber’s version of the Credit Cardholders Bill of Rights, sponsored [...]

After months of proposals, arguments, hearings and public comments, federal regulators today approved new rules to make credit cards more consumer friendly. The changes will prevent card companies from hiking interest rates on existing balances and grant card users a longer window to pay their bills. The new rules take hold in July 2010.
Some Democrats [...]

Sen. Bill Nelson (D-Fla.) offers a new angle today on the Detroit bailout, saying that he’ll support the plan only if the automakers stop trying to kill states’ efforts to tighten emission standards.
California has famously applied for an Environmental Protection Agency waiver forcing emission reductions of 30 percent by 2016. But the automakers claim the [...]