New York Times
August 24, 2010
The credit card industry is working hard to subvert the Credit Card Act of 2009, which banned many of the industry’s most predatory practices. The Federal Reserve Board, which oversees and coddles this industry, needs to ensure that consumers get the protections Congress intended, and Americans so clearly need.
The law’s final provisions went into effect this week, and if they are vigilantly enforced, they should end many of the abuses that had become standard practice.