Bipartisan Congress Pushes Credit Card Relief

Ad Feedback

Consumers paying interest after falling behind on their credit card bills may soon be getting some relief.

The Senate is working on a plan that would allow cardholders to regain lower interest rates if consumers pay their bills on time for six months.

Republicans say lenders should be able to take into account a person's behavior.

Democrats say hiking up interest rates on past balances prevents consumers from climbing out of debt.

The bill is a compromise between the two ideas. It's also part of a broader credit-card reform package.
 
The legislation is expected to pass this week with President Obama's support.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

 CBNNews.com

CBNNews.com

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.