Must read of the day (link fixed)
April 20, 2010 | customers, federal legislation, industry, positive media coverage | Comments (3)Gerri Guzman of the Consumer Rights Coalition in The Hill:
Credit is already hard to come by for those who have no credit history or a less than perfect credit score. As a result of the Credit Card Act, the total supply of credit has dropped significantly. Average credit card interest rates have risen three percentage points. The number of cards with annual fees has increased dramatically. Many cardholders have had their credit lines reduced, or even canceled and new applications are more likely to be denied. Now, a CFPA would be empowered to limit or take away their last remaining financial options.
Comments»
bad link…
Indeed, but I would LOVE to read the article. If I find the right link, I’ll post…. oh wait, I think links aren’t allowed in comments here.
http://thehill.com/blogs/congress-blog/economy-a-budget/93057-why-a-consumer-financial-protection-agency-will-hurt-consumers