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18 Senators Have Questions to Answer

By ThinkProgress on March 28, 2005 at 5:50 pm

"18 Senators Have Questions to Answer"


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In 1991, 18 Senators who still serve today voted for a bill by Sen. Al D’Amato (R-NY) to limit the interest rate credit card companies can charge to 14 percent (the measure was consequently stripped out of the final bill). Those same 18 Senators voted a few weeks ago against a bill by Sen. Mark Dayton (D-MN) to limit the interest rate credit card companies can charge to 30 percent.

Why would 18 Senators, including co-sponsors of the original measure, vote for a tougher pro-consumer measure in 1991, and then vote against a weaker measure in 2005? Could it be that the more than $2 million these Senators took from the credit card/banking industry in the interim made them change their mind? Or, was there another reason? I’d say the public deserves an answer.

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