WASHINGTON (AP) - President Barack Obama has signed a bill
creating new rules for the credit card industry that are designed
to protect consumers from surprise charges.
Obama signed the legislation Friday at a White House ceremony in
the Rose Garden. The overhaul was opposed by many financial
companies, but cleared Congress with broad support.
The president said the legislation aims to help trapped
consumers get out of the "one-way street" that credit often
becomes. He urged people to act responsibly, and not buy more than
they can afford, but said change was needed to force credit card
companies not to take advantage
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.