In a follow up to a previous article we posted, MarketWatch is reporting:
Senate leaders have reached a bipartisan compromise on credit card reform legislation that the full chamber could vote on this week. The top Democrat and Republican members of the Senate Banking Committee have agreed to a bill that would limit fees, enhance disclosures and curb some rate practices seen as unfair and predatory by consumer groups. The Senate compromise lessens some restrictions in an earlier version of the bill, and allows a lender to raise interest rates on an existing balance if a consumer’s payment is 60 days late.
This bill has not been signed into law yet, but because of wide support and the current economic situation, it is highly likely to pass. We will be sure to inform you when the bill becomes law. If you are overwhelmed with credit card debt, hopefully this will ease some of the burden. In addition, feel free to contact us if you need help with credit repair.
If you need help with credit repair or wish to sign up for our credit repair services go to www.creditbureauexperts.com
Tags: credit legislation, credit repair, credit repair services