Card Companies Find More Ways to Dodge New Rules
Lawmakers may have thought the new credit card rules — some which have already taken affect, and others that will begin in February — would be able to, in some respects, save borrowers from themselves. But if Congress thought that the Credit Card Accountability, Responsibility & Disclosure Act of 2009 (CARD Act) could save consumers from the credit card companies, they were wrong.
Late last month we already informed you of one loophole the card companies found in the “45-days notice before a rate change” rule. Now personal finance blog WalletPop.com says the companies have found even more.
