President warns of repeal to CARD Act
President Barack Obama wrapped up his longest campaign tour since his inauguration, completing a four-day trip through the northwest. The latest push is an attempt by the President to stir up support for the Democratic party with mid-term elections nearing.
The President is warning voters across the country that legislation related to credit card debt could be repealed if Republicans win control of the House of Representatives.
“We don’t want them rolling back Wall Street reform, so now card companies can go back to hitting you with hidden fees and penalties,” Obama told a recent rally in Portland, Oregon, according to MSNBC.
Obama stressed that the country risked moving backwards on this issue, as well as several others that have been the hallmarks of his administration, including Wall Street reform, and health care, MSNBC reports. However, in a recent poll 51 percent of Americans say their vote won’t be affected by the President’s actions.
Republicans still need to gain 40 seats in the House to reach a majority, while in the senate the party is likely to gain seats, though not enough to win a majority, the news source reports.