What a crock.

Lets get this straight:

No one forces anyone to own a credit card;

No one forces anyone to use a credit card if owned;

No one force anyone to use a credit card withoug reading the terms of engagement.

Yes, terms are onerous (just like PayDay loans for some.)

If you don’t like the terms start your own darn credit card company. Compete in the market place. Let’s see if you are willing to put your capital on the line. Doubtful.

No, can’t have that, can we. The government has to step in and say to yet another business that “we are going to tell you how to run your business.” Aren’t these the same businesses (banks) that we just got finished bailing out??

There is no doubt that this new government intervention is bound to

(1) make it even harder for some to get a credit card (probably a good thing, see no.’s 1, 2 and 3, above’

(2) increase the cost to those who responsibly use them.

One more example of Obama’s wealth distrubution scheme.  Its massive and its harmful to the entire economy.