Credit Card Legislation

credit card executives contend that new restrictions could backfire against consumers, making it more difficult for banks to provide credit or credit out of reach for many borrowers. How could he turn against it? Is not that what a lot of people in trouble with credit cards --- obtaining credit cards was so easy that people took on their heads and are now in debt, so that it is difficult for them to repay the threat of taxes and penalties added per diem?

Not so complicated - corporate profits rose credit card ripping hard working Americans.

They do not want this bill.

They tell members of Congress they have given money to, and members will vote against the bill.

I agree that maintaining the companies offering credit cards to charge interest outragious, over limit and late fees is a good idea but what about people who have been affected by these hidden costs? They are credit is already ruined due to non-refundable fee. Report Abuse

tighter restrictions on credit card companies to reduce interest rates and penalties when the card is charged on the limit or a payment is missing naturally lead banks to increase credit score and income requirements to get a credit card. banks are giving credit cards to people and raising their credit limits because the rates and charges on the cards are high enough to make a profit, even if 1 in 3 by default and not pay all costs if you cut, then the credit card companies will take fewer risks because the potential profit to be weaker credit will be tougher. Obama said he wanted more difficult to regulate and reduce the costs of credit cards. Banks asked to provide relief to mortgage and asked banks to make credit flow again to help stimulate the economy, the Fed did stress tests and said that many banks are at risk of failing sufficient cash reserves to cover the positions of credit leverage. This administration does not know what he wants.

I want all the credit cards have no interest and no fees. No penalties and no need to pay back what I've ever charging. Then I can go spend again, again and again and next time I'll be sure and vote Democrat.

What Obama proposes is a step in the right direction.

Let's get all those rich fat cats and make them pay. It is only fair.

but no member of Congress opposed it, so I prefer to wait until they do and hear what they have to say, instead of speculating about what might happen.
senior credit cards do not have much power now.

The government should quit. they do not need to control all aspects of our lives. Anyone with a credit card must read and understand the rules they agree. We do not need big brother to do everything for us.

Its just another scam to get more money from people for banks. Apparently, billions of taxpayer dollars to bail out bites was not rich enough. They widen.

banks because they belong, so