Perlmutter, House Finalize Relief for Credit Card Consumers

Press Release

Today, U.S. Rep Ed Perlmutter (CO-07), a member of the House Financial Services Committee and Rules Committee, voted with a bipartisan majority (361-64) in the House to end credit card gimmicks and provide relief from unfair rate increases to millions of credit card holders throughout the country.

Perlmutter stated, "Hard working Americans who make payments on time, have good credit, and live within their means see their rates increase without notice and without cause.

"In a time when many Americans are struggling to pay their mortgage, when healthcare costs are skyrocketing, and many are out of work, unfair credit card practices threaten many families. Americans deserve a fair shake. They deserve transparency, not smoke and mirrors. They deserve reliability, not chaos in their statements. This bill gives consumers a fair deal.

"This bill strikes a careful balance as it is the product of years of hearings, including input from many stakeholders in consumer protection, the credit card industry, and roughly 60,000 public comments. This bill provides the fairness Americans have asked for from their credit card companies."

Additionally, Perlmutter voted to support Section 512 of the Senate amendment to H.R. 627 which prohibits the Secretary of the Interior from enforcing regulations restricting individuals from possessing firearms in units of the National Park Service and the National Wildlife Refuge system. This section passed the House by a vote of 279-147. Perlmutter joined 104 other Democrats and 174 Republicans to pass this section.

HR 627 will now go to the President for his signature.

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