Payday Pundit » Fed credit card rules http://paydaypundit.org News and Information About The Payday Lending Industry Mon, 21 Jun 2010 21:00:48 +0000 http://wordpress.org/?v=2.9 en hourly 1 Overwhelming response http://paydaypundit.org/2008/12/19/overwhelming-response/ http://paydaypundit.org/2008/12/19/overwhelming-response/#comments Fri, 19 Dec 2008 14:44:49 +0000 Payday Pundit http://paydaypundit.org/?p=2147 The Fed announcement of new credit card rules was covered in more than 1,000 newspapers.  The Los Angeles Times piece is typical:   

Responding to rising consumer complaints, federal regulators Thursday adopted the most sweeping new rules for the credit card industry in three decades, including tougher restrictions on interest rate hikes and late fees.

The regulations, which take effect in July 2010, would block card companies from applying higher interest rates on existing balances. Late fees could not be charged without giving consumers at least 21 days to make a payment.

America’s love-hate relationship with credit cards will go on forever.  
]]> http://paydaypundit.org/2008/12/19/overwhelming-response/feed/ 0