31 May 2008
A slightly lighter millstone
The Federal Reserve Bank has been making noises about new rules for credit cards, and I'm beginning to think that card issuers are seriously running scared. Evidence? The following unexpected changes to some of my own accounts:
This is not to say that they're turning into the Good Guys all of a sudden; I have to figure that they'll point to little incremental changes like this and tell the Fed, "See? We really don't need any new regulations."
Update, 1 June: On the other hand, incidents like this won't help their cause.Posted at 6:44 PM to Common Cents
TrackBack: 7:47 PM, 1 June 2008
» A Token Swipe At Credit Card Reform from Population Statistic
Apparently, the usual fee-gouging by credit card issuers has gotten so egregious that the Federal Reserve's push for stricter controls over what customers have to pay for carrying balances might actually have a chance of becoming reality. In resp......[read more]