Video archive of the US Congress

House Proceeding on Apr 30th, 2009 :: 0:41:50 to 0:44:35
Total video length: 1 hours 12 minutes Stream Tools: Stream Overview | Edit Time

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Anna G. Eshoo

0:41:48 to 0:42:08( Edit History Discussion )

Anna G. Eshoo: excuse me. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves his time. the gentleman from california. mr. perlmutter: thank you, madam speaker. i would yield two minutes to the gentlewoman from california, ms. eshoo. the speaker pro tempore: gentlewoman from california is recognized for two minutes. ms. eshoo: i thank the gentleman for yielding the time

Anna G. Eshoo

0:41:50 to 0:44:35( Edit History Discussion )
Speech By: Anna G. Eshoo

Anna G. Eshoo

0:42:09 to 0:42:29( Edit History Discussion )

Anna G. Eshoo: and for his effective management of the rule. i'm very proud to be on the floor today to support the credit cardholders' bill of rights. and i think it's about time that this bill came to the floor. why? there's a demand on the part of the american people because they know they're being abused. there are two bills that come

Anna G. Eshoo

0:42:30 to 0:42:50( Edit History Discussion )

Anna G. Eshoo: every month to almost every household. certainly one, the utility bill. people study that. and the other, their credit card bill. now, there's no doubt in my mind that america really has to go on a credit diet. and that we will come through this economic cris in a different and a better way.

Anna G. Eshoo

0:42:51 to 0:43:11( Edit History Discussion )

Anna G. Eshoo: but credit is very important in our country because 2/3 of our national economy is comprised of consumer spending. and so credit cards, how they are used and what people are charged in that usage is very important. in recent months customers have seen their credit card payments

Anna G. Eshoo

0:43:12 to 0:43:32( Edit History Discussion )

Anna G. Eshoo: skyrocket with sudden and sharp increases in interest rates, confusing repayment schedules, all in an effort for the banks and the credit card companies to recoup their financial losses from other things that they've done. good, stable credit card customers have watched as their existing balances tripled and

Anna G. Eshoo

0:43:33 to 0:43:53( Edit History Discussion )

Anna G. Eshoo: even graud rupeled without warning and without justification. -- quadrupled without warning and without justification. credit card defaults are at an all-time high. when we reform this, this is going to help stimulate our economy by putting more dollars back not hands of consumers -- back into the hands of

Anna G. Eshoo

0:43:54 to 0:44:14( Edit History Discussion )

Anna G. Eshoo: consumers and not in the coffers of credit card companies. they will not penalize cardholders who pay on time or shift allocation of payments to maximize interest rates. it's a rope-a-dope system that's being foisted on the american people and we all know it. that's why we have to take this step today.

Anna G. Eshoo

0:44:15 to 0:44:36( Edit History Discussion )

Anna G. Eshoo: i salute representatives maloney and gutirez for their tenacity in bringing this bill to the floor. this, and the american people will know by the votes in the house who's standing on their side. thank you. the speaker pro tempore: the gentlewoman's time has expired. the gentleman from texas. mr. sessions: thank you, madam

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