Credit CARD Act: Banks Ready New 'Blitz' Of New Fees

Credit CARD Act Goes Into Effect On Monday, And Banks Are Ready Fee Blitz Escalates

On Monday, the second phase of the Credit Card Accountability Responsibility and Disclosure Act of 2009--a major overhaul that boosts safeguards against unfair interest-rate hikes, excessive penalties, and other predatory practices--goes into effect, so of course big banks are doing their best to shift the cost of these new changes onto consumers themselves through higher rates and tricky new fees.

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