New Democrat credit card motion leads finance committee to Washington
The House of Commons Finance committee will leave tomorrow for a 3-day trip to Washington as the result of a motion introduced by New Democrat Consumer Protection Critic Glenn Thibeault, that passed in April.
"The banks along with the credit card companies are using the recession as an excuse to prey upon and gouge Canadians,” said New Democrat Leader Jack Layton. “A majority of Members of Parliament passed this motion on credit cards and now are calling on the Harper government to stop dragging its feet and do something meaningful to protect Canadians consumers.”
The motion, tabled by New Democrat Consumer Protection Critic Glenn Thibeault mandates the Harper government to create legislation that will protect consumers from the unfair practices of credit card companies such as Visa and MasterCard. The motion includes measures to stop abusive fees and penalties; and ‘any time, any reason’ interest rate increases; and account changes. The legislation should also protect cardholders who pay on time and protect young consumers from aggressive credit card solicitation.
Glad to hear it.
One question:
How will they pay for their hotel rooms?
Don't know, seeing as how you have to have one these days to even rent a room! ;)
While Jack Layton and the NDP are taking on the Harper Conservatives to lower credit card interest rates, average Canadians can fight back too.
That's right.
You may be able to reduce your credit card interest rate, just by calling them. Use the NDP's credit card fee reduction kit.
Wonder how the news media in Canada is going to cover this trip on today's news?
Voluntary code of conduct for credit and debit won't protect consumers Thibeault: Conservatives' proposals favour big business
"Why is this government hesitating to introduce legislation that would guarantee consumers are protected?" asked New Democrat Consumer Protection critic Glenn Thibeault (Sudbury). "These delays will only make it that much harder to hold these companies to account since once the new debit networks are active, it will be a much greater challenge to rein them in."
Hmm. I fought long and hard and long and hard against the ONDP putting their logo on credit cards way back when. Nice to be vindicated.
Decades later.
ONDP must have been receiving a percentage with BMO cards, Tommy? I know the ironworkers local had a card with them, too.