President Barack Obama used his weekly radio/You Tube address to call on Congress to get a bill to him that’ll restrict credit card fees ASAP:
President Obama called on Congress to pass a credit card reform bill, aimed at trying to stop credit card companies from imposing certain late fees.
Saying that he is focusing on “clearing away the wreckage of this recession,” Mr. Obama focused his weekly radio address on the credit card legislation in Congress.
“Americans know that they have a responsibility to live within their means and pay what they owe,” Mr. Obama said. “But they also have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all too common to our credit card industry.”
Mr. Obama will hold a town hall meeting next week in New Mexico to promote the bill, White House officials said on Friday.
Here’s his weekly address in full where he deals with this and other issues:
5/9/09: Your Weekly Address from White House on Vimeo.
Joe Gandelman is a former fulltime journalist who freelanced in India, Spain, Bangladesh and Cypress writing for publications such as the Christian Science Monitor and Newsweek. He also did radio reports from Madrid for NPR’s All Things Considered. He has worked on two U.S. newspapers and quit the news biz in 1990 to go into entertainment. He also has written for The Week and several online publications, did a column for Cagle Cartoons Syndicate and has appeared on CNN.