Consumers Union participated today, in a briefing with Secretary Geithner who laid out the key elements of reform that would build upon the pending measures in the House and Senate.

We applaud the proposal which includes:

• Requiring banks to apply payments first to balances with the highest interest rate.
• Requiring any low-interest teaser rate to be offered for at least six months.
• Requiring standardized bill due dates so they are the same every month.
• Ensuring agency review of the credit card market.

The House will be voting on the Credit Cardholders Bill of Rights on Thursday, April 30th.