Washington, D.C.–(ENEWSPF)–April 30, 2010. As the Senate begins debate on landmark Wall Street reform legislation, U.S. Senator Sheldon Whitehouse (D-RI) has filed an amendment to the legislation that would address high credit card interest rates. The amendment would restore to each state its historic power to protect citizens from unscrupulous lenders based in other states. The measure, cosponsored by Senators Jeff Merkley (D-OR), Dick Durbin (D-IL), Bernie Sanders (I-VT), and Carl Levin (D-MI), is modeled after Whitehouse’s Empowering States’ Right to Protect Consumers Act (S. 255) introduced last year.
