The new rules that government regulators voted for are coming into effect now.
- "The revised rules represent the most comprehensive and sweeping reforms ever adopted by the (Federal Reserve) for credit card accounts," Fed Chairman Ben Bernanke said in a statement. "These protections will allow consumers to access credit on terms that are fair and more easily understood."
Expect for these new rules to lessen--but not eliminate--some of the 'unfair' credit card issuer practices. Reading over the rules it seems that many of them have nothing to do with the major issuers (Citibank, Chase, American Express, Discover, etc.), instead focusing on the niche, small-time credit card companies.
http://news.yahoo.com/s/ap/20081218/ap_on_bi_ge/credit_card_rules