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ECT News Community   »   E-Commerce Times Talkback   »   Re: Obama to Sign Customer-Friendly Credit Card Bill Into Law

Re: Obama to Sign Customer-Friendly Credit Card Bill Into Law
Posted by: Philip Elliott 2009-05-22 19:42:15
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New rules for the credit card industry that are designed to protect consumers from surprise charges, such as over-the-limit fees and costs for paying a bill by phone, are part of a bill President Barack Obama is set to sign into law. Obama plans to sign on Friday an overhaul of credit card regulations that he blames in part for the economic downturn. Despite opposition from financial companies, the bill cleared Congress with broad support.

This new law is Not Enough!
Posted by: sourceview 2009-05-22 19:50:11 In reply to: Philip Elliott
If these rules were made retroactive for five years, OK. But millions of families' credit have been destroyed, and these same financial institutions such as Chase, Bank of America, etc ad infinitum, have pauperized millions of American citizens to fill their own corrupt greedy pockets. Millions of citizens are losing their homes to these shysters, and soon, people will start taking measures into their own hands. This law is nothing more than a "cool the mark" band aid. Citizens will fail, and then America will fail, because they doled out billions to the crooks.
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