Skip to primary navigation Skip to main content

Credit Card Practices: Unfair Interest Rate Increases

Permanent Subcommittee on Investigations

Location: Room 106, Dirksen Senate Office Building

Watch this video with Real Player
Open in New Window

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

Panel 2

  • ROGER C. HOCHSCHILD
    President and Chief Operating Officer
    Discover Financial Services
    Riverwoods, IL
    Download Testimony (44k)
  • BRUCE L. HAMMONDS
    President, Bank of America Card Services
    Bank of America Corporation
    Wilmington, DE
    Download Testimony (68k)
  • RYAN SCHNEIDER
    President for Card Services
    Capital One Financial Corporation
    McLean, VA
    Download Testimony (89k)