Tester signs credit card bill
Montana's News Station
Montana's News Station
Senator Jon Tester does not like credit card companies jacking up interest rates before new restrictions go into effect.
On Tuesday, Tester signed onto a bill that would immediately freeze credit card interest rates and fees.
Tester helped write the credit card reform law earlier this year that goes into effect in February. So some credit card companies are increasing rates and fees now.
"Early this year, we passed a credit card bill to hold credit card companies accountable. Unfortunately, they continue to abuse consumers so we are dropping in a bill to stop that abuse immediately," Tester said.
The credit card reform law Tester helped write bans unfair fees and deadlines. It gives cardholders an additional week to pay their bills and has some protections for college age kids.
