Rein In the Credit Card Banks Now!

Subject: Implement credit card reform NOW

Dear Senator [Last Name],

American consumers need financial relief this holiday season, especially from abusive credit card company tactics designed to wring every last cent from us before the Credit CARD Reform Act goes into effect next February.

I'm urging you to immediately pass the Expedited CARD Reform for Consumers Act of 2009 (S 1833, HR 3639) so we can start getting the protections Congress already approved at a time we need them the most -- the holiday season.

[Your personal comments about credit card rate hikes or fees will be added here.]

This measure will simply give me important protections that Congress already approved in May. Unfortunately, the reforms don't get fully implemented until Feb. 22, 2010, and credit card companies have been using the delay to hike interest rates, increase penalty fees and double minimum payments, among other things. Meanwhile, countless good customers who pay on time each month are suffering.

The House just passed a bipartisan bill to implement the credit card reforms by Dec. 1 to prevent further consumer abuses at the hands of the banks. The reality is I can't afford another four months while the banks find new ways to increase their profits at my expense. I urge you to put these already-approved reforms in place now, and give us the help you promised when passing the original bill.

If American consumers are truly the backbone of our economy, then it's time we got the same priority and help when it comes to our finances as the giant banks received. I urge you to put in place reforms already approved in the Credit CARD Act immediately, so we get a fair shake on our credit cards. It's time Congress gives real help and sensible protections to consumers from financial abuses -- rather than using our taxpayer money to bailout the big banks that got us in this mess.