TRI-CITIES, Wash. - The House of Representatives has passed a bill with sweeping reforms of the credit card industry.
The bill provides a laundry list of new protections for card holders. Among them is 45 day notification before an interest rate hike, and giving card holders adequate response time before a bill is due.
The bill also eliminates surprise fees, such as charging those who choose to pay by phone.
The house passed the measure 361 to 64. President is expected to sign the bill into law in the next couple of days.