Video archive of the US Congress

House Proceeding 04-30-09 on Apr 30th, 2009 :: 1:52:20 to 1:53:55
Total video length: 2 hours 32 minutes Stream Tools: Stream Overview | Edit Time

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Thomas E. Petri

1:52:16 to 1:52:36( Edit History Discussion )

Thomas E. Petri: the chair recognizes the gentleman from virginia. mr. perriello: mr. chairman, i yield myself such time as i may consume. the chai the gentleman is recognized. mr. perriello: i rise today in support of my amendment requiring credit card companies to have a six-month minimum period for promotional rates. credit card companies should not have the r of consumers with confusing policies. today the voices of

Thomas E. Petri

1:52:20 to 1:53:55( Edit History Discussion )
Speech By: Thomas E. Petri

Thomas E. Petri

1:52:37 to 1:52:57( Edit History Discussion )

Thomas E. Petri: accountability and common sense have a chance to fight back against many of the problems that got us into this economic mess in the first place. if you can't sell a product without tricks and traps, this is the kind of place where consumer protection must come in to ensure a well functioning pre -- free market. this is a simple amendment that

Thomas E. Petri

1:52:58 to 1:53:18( Edit History Discussion )

Thomas E. Petri: represents the common sense greatly needed. cred card companies should not be allowed to trick con with short-term rates that confuse them. a six-month minimum is a reasonable period of time to expect these teaser rates to last. it also includes a 45-day notice before any rate change is implemented. middle class americans are facing difficult economic tes

Thomas E. Petri

1:53:19 to 1:53:39( Edit History Discussion )

Thomas E. Petri: and many factors have caused the current economic crisis. but soaring debt is near the top of that list. and one group particularly targeted by these rates are young people, our students. who get caught in a cycle of debt early in lifend instead of using those first earning years as a time be able to afford a down payment on a home, we see people caught

Thomas E. Petri

1:53:40 to 1:53:55( Edit History Discussion )

Thomas E. Petri: in a cycle of credit card debt, then taking a zero , or zero down payment on a home and that cycle of debt continues. i believe this is a day where we can start to fight back from main street over

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