Obama signs sweeping credit card reform bill


	Obama signs sweeping credit card reform bill

mugofcoffee

5-22-2009 8:52 PM

206 views

mugofcoffee says:

By John Poirier

1 Comment |

Add a Comment

5-22-2009 9:14 PM

kkcapricorn

This also means guns are now allowed in National Parks, doesn't it? More animal life lost because of human greed.

Login to Comment. Not a member yet? Sign up

Today's Top Clips

visit the Top Clips page

View the Top Clips from May 22, 2009

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/8d47973c-f03d-4d63-bf46-df099581e6c6/7A3760CC-3E2D-4085-B139-570E85B267D4/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/article/topNews/idUSTRE54L5S220090522?feedType=RSS&feedName=topNews" href="http://www.reuters.com/article/topNews/idUSTRE54L5S220090522?feedType=RSS&feedName=topNews" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSTRE54L5S220090522?feedType=RSS&feedName=topNews"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.reuters.com/img/E03532E9-F01D-49B6-8881-FA7D9127BE8F" alt="Photo" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSTRE54L5S220090522?feedType=RSS&feedName=topNews"><P>By <A href="http://blogs.reuters.com/search/journalist.php?edition=us&n=John.Poirier">John Poirier</A><SPAN id="midArticle_byline"></SPAN></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSTRE54L5S220090522?feedType=RSS&feedName=topNews"><P>WASHINGTON (Reuters) - U.S. President <A title="Full coverage of President Barack Obama" href="http://www.reuters.com/news/globalcoverage/barackobama">Barack Obama</A> signed into law on Friday sweeping reforms that restrict credit card interest rates and fees, marking a victory for Democrats trying to help recession-weary consumers and a setback for banks seeking to retain sorely-needed revenues.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSTRE54L5S220090522?feedType=RSS&feedName=topNews"><P>The law is expected to hurt profits of major card issuers such as Citigroup Inc, Bank of America Corp, JPMorgan Chase & Co and Capital One Financial Corp. Banks say the changes may cut the flow of credit to consumers because it will make it more difficult for issuers to set rates based on the risk their customers pose.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSTRE54L5S220090522?feedType=RSS&feedName=topNews"><P>"We're not going to be giving people a free pass and we expect consumers to live within their means and pay what they owe. But we also expect financial institutions to act with the same sense of responsibility that the American people aspire to in their own lives," he said.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7A3760CC-3E2D-4085-B139-570E85B267D4/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

New from the makers of Clipmarks: Amplify.com - Don't just share the news...Amplify it!

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Copyright; Privacy; EULA

Search Options

Today's Top Clips