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April 09, 2008

Rev. Pat Robertson on "credit card bondage"

We appeared this week in an interview on the Christian Broadcasting Network, talking about the credit card industry's stranglehold on Congress. Rep. Carolyn Maloney (D-NY) also appears to talk about her PIRG-backed Credit Cardholder's Bill of Rights proposal. At the end of the video segment, the Rev. Pat Robertson, founder of CBN and its 700 Club, comes on for an editorial comment. He says "I don't like government regulation" but then makes an exception for credit card reform. He talks about the companies placing consumers in "credit card bondage for the rest of their lives." He says the companies are "doing everything possible to keep those checks from coming in on time" to earn more late fee income, including "hiding" the mailed payments, and that credit card companies "prey on the poorest members of society" while making massive campaign contributions to "George Bush" and "Republican and Democratic members of Congress" to block reform. It's great to get support from evangelicals. Here's a previous blog where I mention a new evangelical law professor blog on financial issues.

Posted by Ed Mierzwinski at April 9, 2008 10:13 AM


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