Credit card companies are making a last ditch effort to limit, weaken or slow the regulations that are headed their way. Congress has been working on a bill of rights for credit card holders, we have a consumer-friendly President (as opposed to our previously pro-business to the expense of everyone else president), and public opinion is in a fervor, in favor of new regulations.
US credit card firms seek to limit crackdown
U.S. credit card companies are expected to use a White House meeting to put their best foot forward, despite an avalanche of negative publicity, aiming to blunt a congressional push for tougher regulations.”
My only regret is that it’s simply not Barack Obama’s style to tell them where to stick it.