Wallet Watch

Sen. Carl Levin (D-MI) continues the drumbeat for better credit card terms for Americans in this blog post on TPMCafe. Only a small group of senators are willing to take on the banking industry — along with Sen. Claire McCaskill (D-MO), who co-sponsored a well-crafted bill with Sen. Levin, and Sen. Ron Wyden (D-OR), who has a very worthy bill himself. Sen. Levin testified in the Financial Institutions and Consumer Credit subcommittee in the House (yes, the House) along with Wyden in an April 17th hearing led by Rep. Carolyn Maloney.

Despite Congress’s time being wrapped up in dealing with the subprime mortgage mess, there’s a chance that one of three well-crafted bills — Levin’s, Wyden’s, or Maloney’s — could see some action before the end of the year.