BUSINESS
07/17/2010 05:12 am ET | Updated May 25, 2011

ABA Argues Against Financial Reform Bill Amendment Allowing States To Regulate Credit Card Interest Rates

Right now banks are allowed to pretend that application fees, late payment fees, annual fees, and periodic fees are not part of the cost of credit. That's a bad thing. And if the federal agencies aren't going to fix it, then states should be allowed to.

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