David Obey: “I rise to be heard on the point of order. Section 945 to which the gentleman objects is in this bill for the purpose of…”

“I rise to be heard on the point of order. Section 945 to which the gentleman objects is in this bill for the purpose of ending a practice under which a credit card company can jack up a cardholder's interest rates to the default rate which can be as high as 30 percent. Even if that person has never missed a payment and never been a day late on any payment to that credit card company, that interest rate can be jacked up if that consumer was 1 day late in the payment of some other bill and that was reported on a credit report. This language is in here to correct a glaring and obscene omission in legislation which was passed by the House several weeks ago, the infamous bankruptcy bill. As I understand the rules, the gentleman is objecting to this language because it is legislation on an appropriation bill and falls under the jurisdiction of another committee. As I understand the rules, while the Rules Committee did not protect this section in the rule under which the bill is being debated, this section could be passed by the House if no Member chooses to object to it. I would respectfully suggest to the gentleman, in the interest of protecting consumers in this country from these bloodsuckers, I would suggest that the gentleman would do the country a great service if he would withdraw his point of order. The CHAIRMAN. Does any other Member wish to be heard on the point of order?”