It is an overwhelmingly obvious fact that credit card companies are now quickly changing their rules for credit card use in order to alleviate the problems that they are facing due to the economic recession and, more importantly, be ready for the activation of the credit card bill.
The credit card bill, officially known as the Credit Card Accountability, Responsibility and Disclosure Act was drafted early this year and signed into law by President Barack Obama just this May. The bill aims to...
Last Friday afternoon, President Barack Obama and key personalities from congress gathered in the White House for the signing of the credit card bill.
The credit card bill is a controversial bill that aims to correct what many see to be the fraudulent and deceptive practices of the credit industry. Amidst the outcry of overburdened credit cardholders, the President and the Congress responded with a bill that curtails arbitrary interest rate increases, protects cardholders paying off debts,...
The passage of the credit card bill has gone remarkably fast. The House version passed during the last days of April and the Senate version just got passed last week. A few days later and President Barack Obama signed the bill into law.
Credit cardholders are excited to finally see some sensible regulation for credit cards. Long feeling oppressed and frustrated by arbitrary interest rate increases and unreasonable fees, credit cardholders have been pressing for the passage of the credit card...
With the passage of the credit card bill from the Senate, consumers are seeing a bit of hope from the economic crisis. Consumer groups are also hailing the credit card bill and are excited to finally see a tough legislation for consumer protection come out of Congress.
Travis Plunkett from Consumer Federation of America recently said, “This is probably the strongest piece of consumer legislation to pass Congress in a decade.”
Although consumer groups consider the credit card bill as a...
Government legislators are up in arms over what to do with the economic downturn that is recently plaguing the United States. Their latest bid to stem the tide is the much hyped credit card bill scheduled for release Tuesday.
The government is still reeling from the financial crash that happened late last year. The effect of the crash still continues up to this day. RealtyTrac Inc. recently reported that the foreclosure problem has worsened. This April, a jump of 32% of American homeowners...