Expectations are running high that later this week the US federal financial regulators will adopt new rules adding restrictions on the business practices of US credit card issuers. The changes were originally proposed by the Federal Reserve in early May 2008.

For more information, see these stories: U.S. Aims to Rein In Credit-Card Rates by Damian Paletta in the Wall St. Journal and Banks and consumers brace for new credit card rules by John Poirier for Reuters.

In an article titled "Three Firms that Court Rich May Put Pressure on Amex" (subs. reqd.), Maria Aspan writes for the American Banker about how the changes on Wall Street with respect to investment banks becoming commercial banks could increase competition for affluent consumers and their cards.

MasterCard Advisors' SpendingPulse, a macro-economic report tracking retail and service sales nationally, has provided summary results for the holiday shopping season through the first week of December (November 2 - December 6, 2008) - and the results aren't good. READ MORE »