President Obama Thanks Senator Dodd for the Credit Card Bill

by: jrj08

Fri May 22, 2009 at 17:58:59 PM EDT

EMAIL FROM THE PRESIDENT:

Jennifer --

For too long American consumers haven't had many of the protections they need and deserve. And some of the biggest problems have been in the credit card industry.

But today -- thanks to the extraordinary efforts of your senator, Chris Dodd -- I signed a bill that restores a sense of fairness and transparency to the credit card industry.

As Chairman of the Senate Banking Committee, Senator Dodd was the driving force behind this bill. He's the one who built the bipartisan coalition that passed this crucial reform by a huge margin -- 90 to 5.

Will you take a moment and join me in thanking Senator Dodd for his outstanding work on behalf of families in Connecticut and across the country?

Thank Senator Dodd

At some point, nearly every credit card user has been affected by unfair and abusive practices. That's why I asked Congress to send me a bill that would make sure that families and businesses have access to the credit they need -- and that they have the full weight and protection of the law on their side.

The new legislation does exactly that: it provides strong, reliable protections for consumers and stops lenders from blindsiding ordinary people with unfair rate hikes and confusing fine print.

Millions of American families have already been struggling since the financial downturn last year. They cannot afford to worry about crippling penalties or "any time, any reason" interest rate hikes.

Now they don't have to.

Please join me in thanking Senator Dodd for his exceptional service:

http://ct.barackobama.com/Than...

Thank you,

President Barack Obama

Paid for by Organizing for America, a project of the Democratic National Committee -- 430 South Capitol Street SE, Washington, D.C. 20003. This communication is not authorized by any candidate or candidate's committee.

Cheers,

Jen Just
Volunteer OFA Liaison - CT