UPDATE: C-Span has archived the hearing. These links will open in Realplayer (on my computer, if you click "launch application") and maybe in other players. Here is a link to the Senators and the Consumer-Victims (panels 1&2). This link is to the Regulators and Bankers/Consumer Advocates (panels 3&4).

Well, as expected, the hearing lasted nearly all day. Senator Levin (D-MI) led off with a blistering condemnation of the unfair credit card practices that his own Senate Permanent Subcommittee on Investigations has explored in depth. The three consumer victim witnesses were brave messengers -- not afraid to explain their own financial stories -- after being given more time to consider the waivers that they had refused to sign at the eleventh hour before last month's hearing, when they refused to testify. Interestingly, no committee members or bank witnesses seemed interested in trying to impeach the victims by using account-related information from the waiver. It would have been tough, since they were all so solid. Noteworthy testimony was then given by Marty Gruenberg, vice-chairman of the FDIC. Why? The FDIC largely supported the PIRG-backed Credit Cardholders Bill of Rights, HR 5244, which was the subject of the hearing. Conversely, Julie Williams, chief counsel over at the regulator/cheerleader known as the OCC (the agency that regulates most credit card companies) largely opposed the bill. And while some Representatives said "wait for the proposed Fed disclosure rules," we and the other consumer advocate witnesses urged Congress to act now. Just yesterday, 4 more co-sponsors logged on, bringing us to an even one hundred co-sponsors. We'll continue to work with Chairwoman Maloney (D-NY) to get her bill passed. My testimony here. All testimony here.