House Republicans gag witnesses against credit card companies

Found this at DailyKos

House Republicans gag witnesses against credit card companies
by smintheus
Sun Mar 16, 2008 at 04:36:27 PM PDT

Like so many other Americans, they discovered that their credit card interest rates had skyrocketed without warning and sometimes inexplicably. So on Thursday these citizens were invited to testify before the House Financial Services subcommittee on Consumer Credit, which is considering the The Credit Cardholders’ Bill of Rights (PDF). This legislation would add some significant new consumer protections, such as requiring credit card companies to notify customers at least 45 days in advance of a rate increase.

But Republicans on the committee found a repulsive new way to prevent the witnesses from testifying. At the last minute, the GOP insisted that these victims of arbitrary fee hikes (who'd flown into DC from around the country to tell their stories) had to sign a vaguely worded waver permitting the credit card companies to discuss their credit histories publicly anywhere, anytime.

For four of the five, it was a deal-breaker. Instead of signing the waivers allowing them to testify Thursday, they all sat silently in the audience.

"I didn't want all my ... information out there for just anybody," said Denver's Susan Wones, who saw the interest rate of her JP Morgan Chase card jump from 0 percent to 23 percent in one month last summer, without notification or explanation. "I'm extremely upset I can't talk about this."...

At Thursday's hearing, the first panel was to consist of five card holders who had suffered interest rate hikes or unexplained user fees despite a claimed history of responsible borrowing. The GOP waiver requirement came as a surprise, the witnesses said, not least because it surfaced just one day before theb] hearing. "I didn't have time to contact a lawyer or anything," Wones said.

In addition, witnesses said they were concerned with the vagueness of the one-sentence waiver language, which offered no limitations on where or when the lenders could discuss their credit histories.

Make no mistake, this Republican stunt had the sole purpose of gagging witnesses who would otherwise have testified about the credit card companies' sharp practices.

more...
http://www.dailykos.com/storyonly/2008/3/16/193627/586/553/477447

I wish everyone should stop acting surprised when they do something despicable. They know that the game for them is almost over and want to delay it for as long as possible. For the first time average income republicans are getting screwed by their hero's, and when it comes time to vote, there will be change. Don't forget that indictments that come after shrub is gone can't be pardoned by him. He may escape to Paraguay, but his party will be destroyed and may never recover. I hope it's not too late, and I don't think it is. However this election may be out last chance.

But man, this was purely despicable! Vicious meanness.

It was the House Financial Services subcommittee on Consumer Credit. Apparantly privacy waivers are normal for witnesses to this committee, but generally the waivers are limited in scope so as to allow the committee & staff acceess to data.

How the Repubs managed to implement this very broad waiver, I don't know.

Here's some more info:
http://www.coloradoconfidential.com/showDiary.do?diaryId=3571

We need the names of the Dems on that committee. Why did they allow the Repigs to pull this bullshit?