
Just moments ago President Obama signed into law the controversial credit card bill that was proposed by Senator Dodd of Ct.
The president made mention of the consumer groups that help with the promotion of this adverse legislation who were in attendance for the signing of this legislation.
Unfortunately, this bill grants the right for the banks to charge those who pay their full balance each month to charge these good customers a service fee, elimination of earned cash accruals pay-outs based on a percentage of their purchases, and to start charging annual fees in order to offset their losses accrued by their bad customers who left the banks with unpaid bills.
One of the consumer groups in attendance, that the President mentioned, was Connecticut’s CCAG with Mr. Phil Sherwood a representative of that organization.
Mr. Sherwood also is currently a member of the Common Council of the City of New Britain, Ct.
Alderman Sherwood must be commended for his supporting this law, which was signed by the President, granting our citizens the right to carry guns onto federal parks and forest.