From the Los Angeles Times discussing federal regulations related to credit:

The role of lawmakers and regulators is much more broad. They should demand disclosures that are full and easy to understand. They should prevent lenders from setting debt traps for customers or surprising them with fees for services delivered without consent. And they should prohibit business models that are indifferent to or profit from consumers’ inability to repay what they borrow. Beyond that, companies should be free to innovate and compete, and their customers should be expected to understand the risks.