Video archive of the US Congress

House Proceeding 04-29-09 on Apr 29th, 2009 :: 0:51:40 to 0:54:05
Total video length: 5 hours 24 minutes Stream Tools: Stream Overview | Edit Time

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Gwen Moore

0:51:36 to 0:51:58( Edit History Discussion )

Gwen Moore: to the due date to trip umthe coupers. those are the -- up the consumers. this is our opportunity to say to the consumers, we're on their side. thank you, mr. chairman. the chair: the gentleman yields back the balance of mr. gutierrez: i recognize the gentleman from new york who i enjoy working with on judiciary and also on financial services,

Gwen Moore

0:51:40 to 0:54:05( Edit History Discussion )
Speech By: Gwen Moore

Gwen Moore

0:52:05 to 0:52:26( Edit History Discussion )

Gwen Moore: the gentleman from, mr. >> i want to thank the former chairwoman of the subcommittee for her persistence on behalf of american families. i rise to ask for support of this very important bill because i feel strongly we must stop the unfair practices that have take care of -- advantage of

Gwen Moore

0:52:27 to 0:52:47( Edit History Discussion )

Gwen Moore: consumers. 30-plus page contract they are signing onto. credit card issuers then hit consumers with rate increases and fees, always with the excuse, well, it's in the contract. i'm ok with needing a lawyer to close down a house but regular people shouldn't need a lawyer just to get a credit cardment we must make sure credit cards have fair rules.

Gwen Moore

0:52:48 to 0:53:08( Edit History Discussion )

Gwen Moore: i hear time and again from people in my district who have seen their interest rates substantially increased on their credit cards or the limits decrease for arbitrary reasons or no reason at all. this is an issue that crosses into every part of my district. without fail, someone shares some story each time i'm at home. one, for instance, is a reverend

Gwen Moore

0:53:09 to 0:53:29( Edit History Discussion )

Gwen Moore: . he saw his credit card company raise the rate on his church's existing balance to more than 36%, even though he had evidence that his bill was always paid on time and believe me, this baptist church showed no risk of default or of running away. the credit cardholders' bill of rights takes is important steps

Gwen Moore

0:53:30 to 0:53:51( Edit History Discussion )

Gwen Moore: to level the playing field. it provides that customers receive 45 days' notice, it requires that every statement display a clear due date and finally and most important to my constituents, the credit cardholders' bill of rights. raising rates on pre-existing balances means that issuers are

Gwen Moore

0:53:52 to 0:54:06( Edit History Discussion )

Gwen Moore: raising rates on funds already dispersed to -- dispersed to customers and that's not fair. they've taken advantage of american families, small businesses and even churches that are too responsible to run away or default, but to financially -- too financially

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