Both Mike Michaud and Chellie Pingree supported the Credit Cardholders’ Bill of Rights Act, a bill that will provide consumers with basic protections from credit card companies. The bill passed yesterday with a vote of 357 – 70 in the House.
“Late fees, over the limit fees, arbitrary increases in interest rates: The credit card companies have gotten away with far too much for far too long,” Pingree said in a statement. “It’s time we level the playing field now for small businesses, families, and individuals.”
Michaud agreed, arguing, “This is a huge win for consumers, especially given these tough economic tim....