Credit card issuers boost rates ahead of tougher rules – latimes.com
By Don Lee and W.J. Hennigan
The Los Angeles Times
New federal regulations include giving customers at least 45 days’ notice when making a significant change to accounts. Banks have been bracing for restrictions by raising fees and penalties.
New federal protections for credit card users go into force today, but in advance of the tougher rules, banks have been raising fees and interest rates — hoping to ensure that one of their historically most lucrative businesses remains that way.
This entry was written by Ashton Uytengsu, posted on August 20, 2009 at 12:29 pm.