Credit Card Industry Defeated for Now

Credit Card Industry Defeated for Now

The United States Congress and Senate pass strong consumer protections against credit card companies–for now.

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In light of the $850 billion in American credit card debt and increasing fees and penalties the senate and congress both passed bills banning the most abusive practices of the credit card companies. The overwhelming influence of banking and credit lobbyists seems to have been thwarted for the time being but delays in the implementation of new regulations could likely continue the practices.

Gabriela Resto-Montero

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