The Government Is Killing My Business

Cardholders are getting hit with fewer penalty fees and surprise interest rate hikes thanks to the Credit CARD Act of 2009, which ended a host of tricks and traps, according to consumer advocates.Mission accomplished?Not quite -- in fact, a sequel to the Credit Card Accountability, Responsibility and Disclosure Act of 2009 could be in the making, as regulators mull over a fresh batch of complaints . Although bankers say the consumer protection law has dried up available credit for many people, watchdog groups point to a list of still-thriving credit card problems that they say should be fixed."The CARD Act has been very successful," said Pamela Banks, senior policy counsel for financial services at Consumers Union. "But the problem is, when you fix some things, other issues crop up."Consumers Union is one of the groups that filed official appeals for action with regulators. The bulging comment file also contains broadsides from the National Consumer Law Center, the Center for Responsib...

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