New Credit Card Legislation: How Will This Affect Consumer Confidence?
With the rising number of job cuts and foreclosure, consumers would certainly welcome some breathing room from their financial problems. Lawmakers are trying to do just that by banning excessive fees and arbitrary hikes on their credit cards. The proposed restrictions are expected to pass the Senate on Tuesday after the House endorsed the plan. The final version is expected to be signed by President Obama at the end of the week.
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