A senate bill that is expected to be signed into law soon is going to change the way credit card companies do business.
In addition to putting limits on interest rate change policies and the fees that can be imposed for credit mistakes, the bill also seeks to place limits on who can get a card based on age. Like any change to an existing business practice, this will have big implications for both the credit industry and the consumers of credit.
I will be analyzing the impact of this bill over the next several days. In the mean time, take a look at this:
[...] Credit Cards and the Law – Senate OKs Consumer Friendly Bill [...]