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Posted by on May 9, 2009 in Economy, Politics | 1 comment

Obama’s 5/09/09 Weekly Address: Congress Needs To Send Him Bill To Restrict Credit Card Fees ASAP

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.

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Copyright 2009 The Moderate Voice
  • iDEA

    President Obama signs the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009, marking a turning point for American consumers and ending the days of unfair rate hikes and hidden fees. Here are the details…

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