Federal Bill Looks to Crack Down on Credit Card Companies

WASHINGTON — It’s bad enough that Ohio has been battered economically, Sen. Sherrod Brown and Ohio Attorney General Richard Cordray said Wednesday, May 6.

Consumers, they said, don’t need to add to their woes by getting hit again by predatory practices from credit card companies.

Brown and Cordray got behind a bill that would, among other things, crack down on the practice of raising interest rates during the term of a credit card agreement. It would also require credit card companies to mail bills 21 days in advance instead of 14.

To read the rest of this article, please click the source link above