Congresswoman Kathy Castor released the following statement today, regarding the vital consumer bill addressing credit card company abuses passed in the U.S. House of Representatives entitled the Expedited CARD Reform for Consumers Act of 2009:

“Credit card companies have been socking it to families by raising credit card interest rates, increasing fees and charging higher minimum payments. The new consumer protection legislation will end these unfair practices. Credit card company gouging of consumers must end. Consumers come first, not the credit card companies.”

In April, the House passed the Credit Cardholders’ Bill of Rights, which President Obama signed into law on May 22. The Credit Cardholders’ Bill of Rights includes many consumer-friendly provisions that take aim at unfair and deceptive credit card practices. Many of the provisions were slated to take effect Feb. 22, 2010. With the passage of today’s legislation, the effective date for most credit card reforms will move up to when the President signs this bill into law. This legislation is needed, as highlighted by a Pew Health Group report that showed 100 percent of surveyed credit card issuers are still engaging in unfair and deceptive credit card practices.