AC360° Senior Producer
Good morning everyone!
Today, President Obama will hold a town hall in New Mexico to discuss credit cards. This is a story that effects everyone, wouldn’t you say?
The Senate is currently debating a “credit card holder's bill of rights” and the president says he wants to sign that bill by Memorial Day.
Yesterday, the Senate stripped the current bill of a provision that would have capped interest-rates at 15% in an effort to push the bill through. But, that seems to be a very important part of the legislation. Are these lawmakers bowing to pressure from credit card companies? Some of them of course took bailout money from the taxpayers.. the very people they are charging additional fees.
That’s right, in anticipation of the bill passing, the credit card companies have added new fees to millions of consumer accounts and they’ve also tripled late fees to nearly 150 dollars in some cases. Let’s hope this Congress and this president stand up to these companies. Tom Foreman will be keeping them honest.
Also today, we have a great piece from Sean Callebs. Sean is down in New Orleans where thousands of people are facing homelessness. Thanks to a deadline set by FEMA, 3,000 people could lose their temporary trailer homes, and they don’t have enough money to rebuild the homes they lost in Hurricane Katrina.
How can this still be happening all these years later?
And, a new government report shows that pot is getting even stronger. The levels of THC in pot are now at 10%. At the University of Mississippi's Potency Monitoring Project, where thousands of samples of seized marijuana are tested every year, project director Mahmoud ElSohly said some samples have THC levels exceeding 30 percent. Average THC concentrations will continue to climb before leveling off at 15 percent or 16 percent in five to 10 years, ElSohly predicted. Right now, I’m thinking that’s a story for Gary Tuchman. We’ll see how it shakes out.
And finally, while President Obama is creating controversy with his commencement addresses, his wife, Michelle Obama is generating cash for the town of Merced, California where she will be giving the commencement address this weekend. Erica Hill will have that story for us tonight.
See you at 10p!
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