Ohio Sen. Sherrod Brown and Attorney General Rich Cordray teamed up today to press the U.S. Senate to pass a credit card reform bill this week, saying it would help Ohioans who are struggling to pay bills.
As part of the effort, they release a map of Ohio from the Federal Reserve Bank of New York showing a county-by-county breakdown of credit card deliquency rates.
S.414 would, among other things, prohibit card companies from increasing interest rates on past-due balances; hiking consumers' interest rates if they fall behind on payments to another company; and marketing credit cards to people under 21, except in certain circumstances.
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