by Patrick Lunsford, CollectionIndustry.com
The incoming chairman of the powerful Permanent Subcommittee on Investigations in the U.S. Senate said last week that he would be holding hearings early next year to explore increased federal regulation of the domestic credit card industry.
Senator Carl Levin (D-MI) said last week that he is actively seeking witnesses whose stories will highlight “unfair, abusive fees that are imposed by the companies that run our lending.” So expect testimony along the lines of ?the credit card companies ate my baby,? or similar.
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