U.S. Seeks New Curbs on Credit-Card Practices
By STEPHEN LABATON
Published: May 3, 2008
WA****NGTON — Federal bank regulators on Friday proposed a new set of rules
to make it more difficult for credit card companies to raise rates
arbitrarily, conceal high penalty fees or engage in other practices that
consumer groups say are abusive.
More:
http://www.nytimes.com/2008/05/03/business/03credit.html?_r=2&ref=business&oref=slogin&oref=slogin
ROFL. As the Fed's fiat currency is collapsing around their ears because
Americans can't pay their debt with mortgages in the toilet and the larger
credit card debt industry ready to crash, Helicopter Ben decides to
regulate
the Fed.
ROFLMAO
Maybe those concentration camps are for greedy bankers!
Lessee:
Americans are losing their jobs and not making enough money to pay their
rent and/or mortgages, but are expected to keep the US economy afloat by
using their credit cards instead of a salary. Have any of the geniuses at
the Fed realized they can't pay their credit card bills either?
http://www.bloggingstocks.com/2008/02/08/as-credit-card-delinquencies-rise-consumers-rein-in-spending/
As credit card delinquencies rise, consumers rein-in spending
Posted Feb 8th 2008 12:40PM by Joseph Lazzaro
Filed under: Forecasts, Consumer experience, Economic data
In a stat that most likely will surprise few economists, credit card
delinquencies are increasing in the U.S. -- a sign that the housing sector
slump that has displaced thousands of employees is beginning to exact a
toll
on revolving credit accounts, The Wall Street Journal (subscription
required) re****ted Friday.
