Credit Cards HR 627, S 414, S 235, S 165, S 392, S 131 The Senate was expected to continue debating credit card reform legislation today that would upend several common practices. The bill is expected to pass, but debate could drag into next week.Senate Banking Committee Chairman Chris Dodd, D-Conn., and Sen. Richard Shelby of Alabama, the committee's No. 1 Republican, said they had reached a compromise May 11, but it did little to soften Dodd's reform bill. The legislation passed the committee March 31 by a vote of 12 to 11, without any Republican support.
The Dodd-Shelby bill is actually tougher in some areas than the earlier version — and it would go beyond federal regulations set to go into effect in mid-2010.