Obama signs law curbing surprise credit card fees

[gunslingingbird]

WASHINGTON – President Barack Obama warned overeager shoppers and greedy credit card companies alike on Friday to act responsibly as he signed into law a bill designed to protect debt-ridden consumers from surprise charges.

The White House staged a signing ceremony in the Rose Garden, an indication of the legislation's importance to Obama. Though opposed by many financial companies, the bill cleared Congress with broad support.

About fucking time he did something about that! Though it hasn't happened to me personally, I know of people who had something like a 6% rate one month, and a 24% rate the next! These are people who make their payments on time and rarely carry over a balance from one month to the next. Yes, credit card companies are having problems, but they shouldn't look to get them solved by fucking over responsible people who use their services.

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