Credit Card Legislation Nearing Success

Legislation to rein in credit card practices and eliminate sudden rate hikes and late fees that have entangled millions of American consumers is getting closer to becoming law, bolstered by presidential pressure and the backdrop of economic calamity.

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BING NEWS:
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  • New Credit Card Legislation: How Will This Affect Consumer Confidence?
    In the new legislation ... With the election nearing in 2010 though, members of Congress don’t want to be accused of being unresponsive to the needs of their constituents. Legislators are saying that credit card companies have been abusive.
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  • Obama Pushes For Credit Card Legislation
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  • Congress' Credit Limit
    consumer groups charge that the legislation is riddled with loopholes for heavyweight banks. Credit card debt in the United States now totals more than $960 billion, with default rates nearing 10 percent for some lenders. Many of the biggest credit card ...
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