Connecticut AG seeks credit card fee rollback

AP News
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Posted: Jan 04, 2010 2:07 PM

Connecticut Attorney General Richard Blumenthal is asking Federal Reserve Chairman Ben Bernanke to roll back increases in fees and interest charged to credit card holders.

Blumenthal said Monday that banks have told him they are raising credit card interest rates and fees on creditworthy customers to lend to consumers who are not credit worthy. He has asked Bernanke to use his authority to cut credit card interest rate and fee increases to the levels of January 2009.

A message seeking comment was left Monday with a spokeswoman for the Federal Reserve in Washington.