REPORTER: Let’s talk about interest rates first, for just a second. Credit card companies can change them for any reason or no reason whenever they want to. Under the terms of this bill, they would have to give you 45 days notice. That could give you the power to get a new credit card if you wanted to roll over that amount of money you have on the credit card so you wouldn’t have to pay the new amounts.
ANCHOR: Also you can get — they can just raise your interest rates for any reason.
REPORTER: That’s right. That’s what I was just saying. They can raise your rates for any reason or no reason. They have to give you notice but not the time frame involved. Under Maloney’s bill they’d have to give you the terms of the bill. They’d have to give you 45 days notice.
For the record, I don’t watch this station anymore. Someone emailed it to me. I double-checked the transcript and then posted.
What does it say when the person conducting the interview can’t be bothered to pay attention?