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Will Cardholder Protection Law Hurt Us?

Connie Prater, CreditCards.com
posted: 172 DAYS 23 HOURS AGO
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CreditCards.com
Scary knife
Will the new credit card legislation President Obama is about to sign into law hurt more consumers than it helps? Ask a credit card issuer and the answer is sure to be a resounding, "Yes!" Ask a consumer advocate and the answer is: "No way. They're bluffing."
The reality may be somewhere in between.
In the months leading up to passage of sweeping new credit card reforms, banking industry lobbyists warned of the dire consequences of restricting card issuers' abilities to increase interest rates based on the creditworthiness of borrowers.
Among the potential consequences cited by bankers:
2009-05-21 17:14:23
COMMENTS ( 2 )
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sioafdqa
7:50AM Sep 18 2009 
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Venturamickey
5:12PM Sep 12 2009 
Oh great more gov. controling another part of our lives.
keep it up we will be a socialstic, Godless nation controlled by a modern day white hating robin hood taking the money from those who have and giving it to those that sit on their a--.
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