Blog: Changes in New Credit Card Legislation
Added May 27, 2009 by Jennifer A. FreemanPresident Obama signed new credit card legislation into law last week. See the full story for all the changes in the new credit card legislation.
Among the changes, the legislation bans unfair rate increases, prevents fee traps, requires plain sight and plain language disclosures, and has many provisions for accountability and protections for students and young people.
Have you been burned by a credit card company? I've been dinged when I forget to post my online payment before 5 p.m. Eastern, since I'm in Central time. But I also don't want to start paying higher annual fees to the credit card companies. What do you think will happen because of this legislation?
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Comments
CreditLendingBlog says
Yeah, I think everyone is adopting a wait-and-see attitude regarding this issue.. The new credit card legislation can either be for the better or for the worse for consumers
smith says
I reckon everyone is adopting a wait-and-see attitude regarding this cut.. The new assign carte legislating can either be for the modify or for the worse for consumers. ------------------- smith