credit cards

Credit card issuers use final days before consumer protections to make card terms more deceptive, unfair

 
Currently, the Act will not take effect until February 2010 (or later, for some provisions). Credit card issuers argue that the provisions of the bill are too onerous to implement all at once.

From the President: Put long-term financial security over short-term profits

Written by Dory Rand on August 17, 2009 - 3:41pm
 
Credit card lenders like Chase, as well as other financial services providers, strongly oppose the establishment of a consumer financial watchdog because it could expand the same type of consumer protections for other products they market, such as overdraft loans, tax refund anticipation loans, and other high-cost products with hidden fees.

 

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