Now, I like people. Just, really, in general. And, a lot of the pleasure I take in careful enforced regulation is in its reduction of human suffering. But, I do appreciate the odd ancillary good effect on our financial markets. These sound like they'll be good for that, too.
The Credit Cardholders’ Bill of Rights:Thanks, Representative Maloney!
-Protects cardholders against arbitrary interest rate increases
-Prevents cardholders who pay on time from being unfairly penalized
-Protects cardholders from due date gimmicks
-Shields cardholders from misleading terms
-Empowers cardholders to set limits on their credit
-Requires card companies to fairly credit and allocate payments
-Prohibits card companies from imposing excessive fees on cardholders
-Prevents card companies from giving subprime credit cards to people who can’t afford them
-Requires Congress to provide better oversight of the credit card industry
-Contains NO rate caps, fee setting, or price controls