CARD Places Regulations on Credit Companies

Ashland Times-Gazette

Two Ohio government officials are working together to create stricter regulations for credit card companies.

U.S. Sen. Sherrod Brown, D-Ohio, and Ohio Attorney General Richard Cordray participated in a conference call Tuesday to promote the Credit Card Accountability Responsibility and Disclosure Act of 2009. The House of Representatives already approved a similar bill and the U.S. Senate could vote on the legislation this week.

"Ohioans have had enough of the abusive and predatory practices used by credit card companies," said Brown, an original cosponsor of the CARD Act. "Too many Americans struggle to pay their bills -- they shouldn't also have to worry about arbitrary interest rate increases or outrageous penalty fees."

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