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

07/17/2010 05:12 am ET | Updated May 25, 2011
  • James Kwak BaselineScenario.com

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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