Congress: Speed Up New Credit Card Rules

In this aritcle "Congress:Speed Up New Credit Card Rules" it states that congress has voted on making new and tough rules on credit card companies unless the lenders agree to put a hold on interest rates and fees. This bill will be effective if President Obama signs it. Rep. Barney warned banks to abusing time periods before the credit card rules bring the rates up on consumers. Rep. Frank help pass a bill that gives strict rules to lenders. This bill will be in effect in mid-Feburary which will give banks time to prepare for the new changes.



http://www.cbsnews.com/stories/2009/11/04/politics/main5525945.shtml