Two key Democrats plan to introduce a bill Wednesday that would require credit card issuers to give account holders 45 days notice of any increases in interest rates. Interest could not be charged on transaction fees such as late-payment and overlimit penalties.
The measure is sponsored by Sen. Christopher Dodd, D-Conn., chairman of the Senate Banking Committee, and Sen. Carl Levin, D-Mich., who heads a Senate Homeland Security and Governmental Affairs subcommittee that has investigated credit card industry practices. A similar bill proposed by Rep.
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