Obama Signs Credit Card Reform

UpTakeVideo
May 22, 2009
REMARKS BY THE PRESIDENT AT SIGNING OF THE CREDIT CARD ACCOUNTABILITY, RESPONSIBILITY AND DISCLOSURE ACT
Rose Garden 3:08 P.M. EDT

THE PRESIDENT: Hello, everybody. Please, have a seat -- I'm sorry. It is a great pleasure to have all of you here at the White House on this gorgeous, sunny day. The sun is shining. The birds are singing. Change is in the air. (Laughter.)

This has been a historic week; a week in which we've cast aside some old divisions and put in place new reforms that will reduce our dependence on foreign oil, prevent fraud against homeowners, and save taxpayers money by preventing wasteful government contracts; a week that marks significant progress in the difficult work of changing our policies and transforming our politics.

But the real test of change ultimately is whether it makes a difference in the lives of the American people. That's what matters to me. That's what matters to my administration. That's what matters to the extraordinary collection of members of Congress that are standing with me here, but also who are in the audience. And we're here today because of a bill that will make a big difference: the Credit Card Accountability, Responsibility, and Disclosure Act.