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Schumer: Credit card law should take effect sooner
Federal credit card legislation set to become law in 2010 should be enacted earlier to halt credit card companies' practice of raising interest rates before the new rules take effect, Sen. Charles Schumer said Sunday.
Schumer cited a Pew Charitable Trusts study that found credit card interest rates rose 20 percent in the first six months of 2009 while federal interest rates dropped. He accused...
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