Credit Card Industry Could See More Regulations

[dollardaze]

Regulators are saying that they did not act quickly enough when the mortgage crisis began, now they are looking at the credit card industry, with the hope that they can stop people from being in debt for the rest of their lives.

Consumer advocates say regulation of the credit card industry has long been without teeth. But as card holders struggle under the weight of big balances, high interest rates and fees, their pleas to lawmakers for help may well mean that the industry will face some significant regulation by early next year.

By JANE BIRNBAUM

The government needs to quit dragging it's feet when it comes to the things that matter the most to the people of the country. It seems that it always takes a crisis to get any solution from our representatives, and then it's too little too late. We can hope that this will be different, but I'm not going to hold my breath while I wait for a solution.

Credit Card Industry Could See More Regulations