Word: bille
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...announcement indicates that sponsors have enough Democratic votes to push a bill past its first legislative hurdle, the House Energy and Commerce Committee, as early as next week. But the patchwork of concessions necessary to win over champions of industrial and regional interests weakened the initiative, leaving it far short of the global warming gas reductions that scientists insist are necessary to stave off catastrophic climate change...
...unacceptable to base this bill on politics, instead of good science," said Greenpeace's Damon Moglen...
...That sort of thinking, while valid, misses the larger picture. If one brackets the equally legitimate notion that Americans probably should have less access to credit-card borrowing and simply dissects the bill before Congress, one starts to see that the proposed changes aren't really about dictating what a card company can or can't charge borrowers. There's a way to do that: impose interest-rate caps, as many states' usury laws do. That isn't what Congress is on track to do. Instead, the new law, which would build on regulations issued by the Federal Reserve...
...want to. The thing they wouldn't be allowed to do under the new law is to go back and change the terms of your original agreement - that is, hike your interest rate on existing balances - except in very few situations, such as your egregiously failing to pay your bill (for 60 days or more, in the version of the bill before the Senate...
...most part, the bill before Congress isn't about changing the game on card companies. It's about creating a fairer set of rules to play...