Proposed Laws Would Reveal Costs of Plastic
David Lazarus writes in the San Francisco Chronicle about legislation introduced last week by California Sen. Dianne Feinstein that would require credit card issuers to provide additional disclosures regarding monthly payments.
The real bite of the legislation comes in a separate provision. It stipulates that if a customer makes minimum payments for six straight months, the card issuer must offer an individual projection so the cardholder knows exactly how much and how long it'll take to crawl out of debt.
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