Agenda

The Permanent Subcommittee on Investigations held a hearing, "Credit Card Practices: Unfair Interest Rate Increases," examining the circumstances under which credit card issuers may increase the interest rates of cardholders who are in compliance with the terms of their credit cards. This hearing was a followup to the Subcommittee’s March 2007 hearing which examined practices related to credit card grace periods, interest charges assessed against debt that was paid on time, and excessive fees.

Witnesses

Panel 1

• JANET HARD

  Consumer

  Freeland, MI
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• BONNIE RUSHING

  Consumer

  Naples, FL
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• MILLARD GLASSHOF

  Consumer

  Milwaukee, WI
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Panel 2

• ROGER C. HOCHSCHILD

  President and Chief Operating Officer

  Discover Financial Services

  Riverwoods, IL
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• BRUCE L. HAMMONDS

  President, Bank of America Card Services

  Bank of America Corporation

  Wilmington, DE
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• RYAN SCHNEIDER

  President for Card Services

  Capital One Financial Corporation

  McLean, VA
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