Is this a windfall profit for banks... Obama's credit card law?Since he didn't make it retroactive my bank increased my interest rate from 13% to 19.8%. I wonder how many millions of dollars the banks are now making this new interest rate on. Who do you think Obama will blame it on? Do you think he will blame it on the Democrats for not making the law... |
I think Obama will acknowledge it as an oversight on his part.
No one is to blame. This legislation has been in the works for about two years, long before Mr. Obama became our President, and was voted into law by the Senate last again, again before he became President. All consumer gurus say this is a marvelous piece of legislation. If your credit card company has raised your rates, you have two choices. First, you have 45 days in which to opt out and pay off your bill at the current rate, and then get a credit card from lower rates from another company. Second, you can do as many of us day and pay off your bill every month thereby avoiding any interest charges.
