Obama signed the "credit card holders bill of rights" legislation in May.
Today, President Obama signs the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009, marking a turning point for American consumers and ending the days of unfair rate hikes and hidden fees.
The White House - Press Office - Fact Sheet: Reforms to Protect American Credit Card Holders
Campaign Promise - establish a credit card holders bill of rights
While it is not a perfect bill, there were no efforts at credit card reform by the previous administration and Congress.
Quote:
Originally Posted by aceventura3
Let me know when the difference between the interest rate on a savings account and a credit card is less than 20%.
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ace....is it better than NO credit card reform at all?