Spratt Votes to Protect Credit Card Customers

WASHINGTON – U.S. Rep. John Spratt (D-SC) voted to provide credit card customers with fundamental protections against unfair and deceptive credit card practices, such as due-date gimmicks, double-cycle billing, excessive fees, and issuing cards to minors.

The Credit Cardholders’ Bill of Rights (H.R. 627) passed the House on April 30 by a vote of 357-70.

“This legislation will help to level the playing field between customers and credit card companies and give consumers the tools to manage their credit responsibly”, said Spratt.

The Credit Cardholders’ Bill of Rights will:


· Protect cardholders against arbitrary interest rate increases

· Prevent cardholders who pay on time from being unfairly penalized

· Protect cardholders from due-date gimmicks

· Prevent companies from using misleading terms and damaging consumers’ credit ratings

· Empower cardholders to set limits on their credit

· Require card companies to fairly credit and allocate payments

· Prohibit card companies from imposing excessive fees on cardholders

· Protect vulnerable consumers from high-fee subprime credit cards

· Bar issuing credit cards to vulnerable minors

Consumer Protection Workshop Tuesday

In today’s troubled economy consumers need protection more than ever. With unemployment high, rising costs, and con artists working overtime to come up with new and clever ways to target and exploit the vulnerable, consumers need information and education in order to defend themselves against fraud and make wise choices in the marketplace.

In observance of National Consumer Protection Week (March 2 – 8), several state and federal agencies and private sector partners are offering a Consumer Protection Workshop on Tuesday, March 3, 11:30 a.m. – 4:30 p.m., at the South Carolina Department of Consumer Affairs, 3600 Forest Drive, Columbia. The workshop is free to consumers and will include a light lunch for the first 100 people to register, sponsored by Silver Nation.

The workshop will include presentations on general scams and fraud, Identity Theft and the new legislation in South Carolina, credit repair, mortgage fraud, investment basics and investment scams. Representatives from the US Postal Inspection Service, US Attorney, Federal Trade Commission, IRS, FBI, Attorney General, Lt. Governor, and the Department of Consumer Affairs will be on hand for presentations and to answer questions, as well as having informational exhibits and take home materials available.

For more information on the Consumer Protection Workshop or to register for this important conference, call 803-734-4296