New credit card rules

[utvolpj]

So we've already kept people in mortgages they couldn't afford and now we reward them for seeing a CC as extra income.

Congress sends Obama major new credit card rules - Yahoo! Finance

Not only that, this will negatively affect the people who use their CC's wisely do what they are supposed to do.

As banks scramble to make up for the lost revenue, cardholders who pay off their balance in full each month could see annual fees become the norm and lucrative rewards programs canceled.

 

[droski]

i do think something had to be done, but it's not great timing.

 

[DC Vol]

This formulaic way of thought was bound to happen.

Nothing like first having to pay for banks and stupid people attempting to exploit one another. They both failed. And now the responsible citizens will fit the bill in taxes and now fees to cover the banks lack of continuous revenue in a period of very low rates.

Oh well.

 

[rjd970]

This formulaic way of thought was bound to happen.

Nothing like first having to pay for banks and stupid people attempting to exploit one another. They both failed. And now the responsible citizens will fit the bill in taxes and now fees to cover the banks lack of continuous revenue in a period of very low rates.

Oh well.

Exactly.

 

[allvol123]

I think the government should issue credit cards.

 

[BigPapaVol]

they do. That's how much of the free money is given out these days.
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[allvol123]

So my extreme sarcasm is reality. That sucks.

 

[DC Vol]

I think the government should issue credit cards.

They did. They were run through Bank of America.