Credit Card Bill of Rights Passes out of House Financial Services Committee

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H.R.627, Credit Cardholders' Bill of Rights Act of 2009, passed out of the House Financial Services Committee today.

Yet there are reports Obama will meet with 14 executives over credit cards this week and will want modifications to the bill.

Will we see more consumer rights or will they be weakened is the question?

Last Congressional session the house overwhelmingly passed a Consumer bill of rights only to have it die in the Senate.

Here is the Actual Bill Text.

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Nice that it effectively ends random rate increases

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But sad to see that it doesn't provide an absolute cap on interest rates and total debt load of the consumer.
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Executive compensation is inversely proportional to morality and ethics.

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Maximum jobs, not maximum profits.

Senate passes Financial Investigation commission

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I missed this on Wednesday, the Senate passed an amendment to create an independent, bi-partisan commission to investigate the causes of the financial crisis.

I haven't read the amendment but the fact it is based on the 9/11 commission is probably good.

The one in the house is claimed to be "non-partisan" but is having "leadership" pick 6 Dems to 4 GOP and ya know, do we really want Pelosi and Reid picking the investigators?