Credit Card Crisis on America

Remember the credit Card crisis that this nation was facing? The following is a response from Senator Mel Martinez before he left office.

Dear Mr. Shaw:

Thank you for contacting me regarding credit cards. I appreciate hearing from you and would like to respond to your concerns.

Florida’s families are facing many challenges right now, including rising fuel costs, falling home values, and increasing levels of debt. Credit cards are powerful tools. When used properly, they allow Americans the flexibility to weather economic downturns and build credit history to support future financial goals like homeownership or financing a child’s education. Unfortunately, an increase in the use of credit cards has lead to instances of predatory practices and unfair rates and fees. I share your concerns, and I will continue to work with my colleagues on the Senate Committee on Banking, Housing, and Urban Affairs to ensure that we maintain the availability of credit to American families and that the intended consumer protections are practiced.

Again, thank you for sharing your views with me. If you have further questions or comments, please contact me. For more information about issues and activities important to Florida, please sign up for my weekly newsletter at http://martinez.senate.gov.

Sincerely,

Mel Martinez
United States Senator

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