Credit Card Interest Rate Ceiling and Disclosure: Hearing Before the Subcommittee on Consumer Affairs and Coinage of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One-hundredth Congress, First Session, on H.R. 78; H.R. 244; H.R. 515; H.R. 1086; and H.R. 1584, March 18, 1987 |
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Page 3
... sumer needs a rate ceiling on credit cards . I will work and fight for a cap on credit card ceilings . At the same time , I am a realist . I know that there are powerful forces that want to keep bank profits at record levels . Banks ...
... sumer needs a rate ceiling on credit cards . I will work and fight for a cap on credit card ceilings . At the same time , I am a realist . I know that there are powerful forces that want to keep bank profits at record levels . Banks ...
Page 34
... sumer and industry witnesses that follow . I have been on this Con- sumer Affairs Subcommittee since I came to Congress and have a little different view on the subject before us , which I probably ought to express for the record and ...
... sumer and industry witnesses that follow . I have been on this Con- sumer Affairs Subcommittee since I came to Congress and have a little different view on the subject before us , which I probably ought to express for the record and ...
Page 35
... sumer affairs area . I would like to simply make a few points , Mr. Chairman . Two years ago , I challenged the Nation's banks to justify the outra- geously high interest rates they charge on their VISA and Master- Cards . I began on a ...
... sumer affairs area . I would like to simply make a few points , Mr. Chairman . Two years ago , I challenged the Nation's banks to justify the outra- geously high interest rates they charge on their VISA and Master- Cards . I began on a ...
Page 39
... sumer to make informed decisions as to which of the many card plans on the market they will use . The other issue is that of gov- ernment price controls on interest rates or other pricing mecha- nisms . Mr. Chairman , I will say at the ...
... sumer to make informed decisions as to which of the many card plans on the market they will use . The other issue is that of gov- ernment price controls on interest rates or other pricing mecha- nisms . Mr. Chairman , I will say at the ...
Page 41
... sumer . And I would urge the subcommittee to give it the most seri- ous consideration before moving forward . Thank you very much . [ The prepared statement of Congressman Barnard may be found in the appendix . ] Chairman ANNUNZIO . We ...
... sumer . And I would urge the subcommittee to give it the most seri- ous consideration before moving forward . Thank you very much . [ The prepared statement of Congressman Barnard may be found in the appendix . ] Chairman ANNUNZIO . We ...
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Common terms and phrases
American Bankers Association American Express annual fee annual percentage rate bank card bank credit card Barnard card holders card interest rates cardholders cards issued ceiling on credit Chairman ANNUNZIO charge card Citibank competition Congress consumer credit COSENTINO cost of funds credit card accounts credit card applications credit card cost credit card disclosure credit card industry credit card interest credit card issuers credit card market credit card plans credit card rates credit plan creditor customers disclose disclosure bill disclosure legislation disclosure requirements discount rate Discover card effect Federal Reserve Finance and Urban finance charge Frank Annunzio grace period high interest rates HILER Illinois imposed increase interest rate ceilings Lending Act limited loans March 18 MasterCard million offer open-end credit Optima percent prime rate rate cap regulations require disclosure Roth statement subsection sumer take-one Thank transaction Truth in Lending Urban Affairs
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