Credit Card Waivers: The Story That Keeps on Givin’

Mike Lillis at our sister site, The Washington Independent, continues to follow the Credit Cardholders’ Bill of Rights weaving its way through Congress — a story so maddeningly convoluted it can only be matched by the frustration of reading the small print on your credit card bill. We’ve been following the saga over the consumer witnesses who came twice to Washington in recent weeks to relate horror stories surrounding their credit card accounts, and the damn thing just won’t go away.

First, it was Republicans silencing the witnesses with open-ended waiver requirements. Then, the witnesses agreed to sign different waivers, allowing their testimony. And now, in the wake of that testimony, a House lawmaker is claiming that one of the credit card companies violated the terms of the second waiver (available here, pdf) signed by one of his constituents.

Rep. Mark Udall (D-Col.) charged today that JPMorgan Chase breached the waiver signed by Susan Wones, a consumer witness from Denver.

Read the rest of the story and JPMorgan Chase’s response.