Thursday, May 14, 2009

Your credit card statement

Clicking here will sign your name:
"We need a strong Credit Cardholders' Bill of Rights that isn't watered down by the big banks—and we need it now."

Sign the petition
Dear MoveOn member,

Have you ever looked at your credit card statement and realized your interest rate was twice what it was the month before?  Or wondered why you're getting charged a late fee when you paid your bill on time?

Credit card companies are notorious for back-handed maneuvers like these. And they've been doing this for so long, it almost feels hopeless to protest.

But now, the Senate is considering a strong bill to outlaw some of their most egregious abuses. 

But the bill isn't moving, and too many senators are scared to take truly bold action against the banks. If enough of us speak out together quickly, we can make sure Congress knows we expect them to protect voters, not banks. Can you add your name now so they get the message? Clicking below adds your name:

The petition says: "We need a strong Credit Cardholders' Bill of Rights that isn't watered down by the big banks—and we need it now."

To get our economy back on track, we need a functioning financial system that extends credit on fair terms to worthy borrowers like small businesses, students, and car buyers.

But as long as the banks are the ones writing the rules, we'll continue to have a system that's good for them and bad for everyone else. Since the early 1980s, the government has gotten rid of more and more regulations at the banks' urging. Entire industries have sprung up built on misleading people and taking advantage of them.

Now that we've seen the disastrous consequences of that deregulation, we have to act.

The House bill passed by a big margin, but the Senate bill, sponsored by Senator Chris Dodd, is significantly tougher on the banks. If we don't pass strong reform now—in this moment of anger at the industry's wild abuses—we may not get the chance again. That's why we need to speak out right away to make sure the banks can't block or water down these necessary reforms.

Can you add your name now?

–Daniel, Peter, Ilyse, Lenore and the rest of the team

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PAID FOR BY MOVEON.ORG POLITICAL ACTION, Not authorized by any candidate or candidate's committee. This email was sent to eddie alfaro on May 14, 2009. To change your email address or update your contact info, click here. To remove yourself from this list, click here.

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