New credit card law is finally here. Banks will have to follow new regulations on terms and disclosures. It is supposed to prevent banks from using practices that often put borrowers deeper into debt.
But, as you can imagine, they have had months to work more fees and costs into your account anyway. So what purpose will it serve?
In the long run, it will only be a marginal at best solution.
There should have been something done a long time ago to stop the credit card companies and banks from squeezing the American consumer.
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