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In May of 2009, President Obama signed into law 800 pages of legislation related to how credit card companies will do business, effective February 2010. Full Article at NBC 17.com
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WASHINGTON—The House voted Wednesday to advance the starting date for new credit card regulations to as soon as next month. Full Article at SouthCoastToday.com
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WASHINGTON -- The House voted on Wednesday to accelerate the enactment date of tough new rules for credit card companies after voters complained of a rise in interest rates and steep new fees. Full Article at The Delaware News Journal
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WASHINGTON (MarketWatch) -- Responding to consumer frustration over rising credit card rates, the House on Wednesday approved legislation to accelerate the implementation of new laws to crack down on abusive practices by credit card companies to... Full Article at MarketWatch
Related Quotes
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That is simply untrue. Banks will raise consumer costs as much as they can anyway. Some consumer costs should be raised. But nobody's rates should be raised retroactively. Plus, you should be given notice.
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Consumers will receive important benefits
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The notion that people should be penalized for being prudent is crazy
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This is, plain and simple, consumer gouging on the part of credit card companies at its worst
