The Lenders Strike Back: How Credit Card Companies Are Responding to Obama’s Big Changes

Tighter regulations on consumer disclosures? Protection of young consumers? New rules for so-called “promotional” interest rates? A ban on universal default and double-cycle billing? Did you think that credit card companies would take this lying down? President Obama’s Credit Card “Bill of Rights” (aka the Credit CARD Act of 2009) was hailed by consumers as a much needed reining in of the wily tactics of big lenders, but, understandably, lamented by the companies whose bottom-lines relied on s