Credit Cards

Just as Washington hands over the biggest bailout in history to Wall Street in what is ostensibly a way to free up credit markets, banks are looking for ways to collect more money from debt-submerged consumers. They’re charging new fees, raising rates, and lowering limits.

The Credit Cardholders’ Bill of Rights, which Reps. Bachmann and Kline voted against, might offer some reprieve for strapped consumers, if it passes the Senate. But is there any recourse from bank control in the meantime?

There’s no shortage of stories as of late about consumers getting bilked by credit-card companies: Bank of America has been

As we noted last week, credit cardholders hit with recent and arbitrary rate hikes might get some relief if any of the new consumer-protection proposals see the light of day. But it’s of little solace to consumers today who at the mercy of credit-card companies, all of whom have the legal authority to start charging [...]