Albuquerque, NM – New Mexico U.S Senator Jeff Bingaman says he hopes congress will pass a bill to protect consumers from credit card companies.
The measure, known as the "Credit Card Accountability, Responsibility, and Disclosure Act of 2009", would, among other things, force companies to notify consumers prior to raising their interest rates.
The bill would also set limits on fees and interest charges, and prohibit penalties on credit card holders who pay their bills on time.