Credit Card Industry Resists Change
In an article titled 'Credit card industry resists change as fees shock many", Christine Dugas writes for USA Today about the Federal Reserve's proposals to require clearer disclosures by card issuers. She writes that the credit card industry "welcomes better disclosure but opposes curbs on its ability to raise fees or rates or change policies. Consumers have yet to see any significant easing of fees and rates that have sparked outrage."
Separately, John Poirier reports for Reuters that Rep. Carolyn Mahoney "plans to offer legislation to address some of the problems plaguing credit card customers who have been blindsided with interest rate changes and various fees."
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