Video archive of the US Congress

House Proceeding 04-30-09 on Apr 30th, 2009 :: 0:42:40 to 0:44:35
Total video length: 2 hours 32 minutes Stream Tools: Stream Overview | Edit Time

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Luis V. Gutierrez

0:42:36 to 0:42:56( Edit History Discussion )

Luis V. Gutierrez: the right thick for consumers and saving them thousands that can be put straight back into the economy. i urge my colleagues to support this amendment and the underlying bill. i yield back. the chair: the gentleman from texas. mr. neugebauer: i yield back the balance of my time. the chair: the gentleman from illinois.

Luis V. Gutierrez

0:42:40 to 0:44:35( Edit History Discussion )
Speech By: Luis V. Gutierrez

Luis V. Gutierrez

0:42:57 to 0:43:17( Edit History Discussion )

Luis V. Gutierrez: mr. gutierrez: i yield myself the remaing time. the chair: the gentleman is recognized for a minute and a half. mr. gutierrez: first of all,s that simple, common sense practice for consumers. it says you had an interest rate of 10% on the first $100 you took, then the credit card company raises it to 20%, take

Luis V. Gutierrez

0:43:18 to 0:43:39( Edit History Discussion )

Luis V. Gutierrez: another $100, and the minimum payment is $30 on the $200 but you make a payment of $50. what happens with that $20 extra over the minimum payment, it goes to reduce the debt on the highest interest rate first. therefore the consumer is protected from the hike. i want to say that this

Luis V. Gutierrez

0:43:40 to 0:44:00( Edit History Discussion )

Luis V. Gutierrez: amendment comes after conversations of the president and the white house with the credit card industry, it was sent over here to the house, i'm proud to join the gentlelady from maryland in proping this common sense amendment to protect consumers. just think, you have a chance to put consumers first in

Luis V. Gutierrez

0:44:01 to 0:44:22( Edit History Discussion )

Luis V. Gutierrez: allowing them to pay down the debt at the highest interest rate after the credit card company changed the rate on you. that's all this really does. it's a very consumer oriented. that's what i think we should be about here today. the chair: the question is on the amendment offered by the gentleman from illinois. those in favor say aye. those opposed, no.

Luis V. Gutierrez

0:44:23 to 0:44:37( Edit History Discussion )

Luis V. Gutierrez: in the opinion of the chair, the ayes have it. the amendment is agreed. to it is now in order to consider amendment number five

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