Getting Serious Credit Card Consumer Protection

03/18/2010 05:12 am ET | Updated May 25, 2011

14936 Sometimes banks try to pull a fast one on you, like mailing statements nearly late, then charging you for late fees.

Consumer Reports is helping get reasonable consumer protection for us all and I'd appreciate it you took a look at

Here's the deal:

A key House committee just passed two major reforms that will help our wallets. Now we need the entire House to do the same so we can end the banks' financial tricks!

One bill would implement new credit card rules on Dec. 1
in time for the holiday season, rather than waiting until next
February. The card companies are taking advantage of the delay to hike
interest rates on good customers' card balances, and the longer
Congress waits, the more time the banks have to ding our wallets.

The other bill would create a financial watchdog whose only job is to look out for consumers' interests
when it comes to credit cards, loans and mortgages. The Consumer
Financial Protection Agency would put our interests before the banks,
and protect us from abusive financial tricks.