New credit card restrictions take effect

[babsbunny]

http://www.cnn.com/2010/US/08/22/credit.card.rules/index.html?eref=mrss_igoogle_cnn

By the CNN Wire Staff
August 22, 2010 10:07 a.m. EDT

Washington (CNN) -- New rules designed to protect credit card users from "unreasonable late payment and other penalty fees" come into force Sunday as a result of the Wall Street reform bill.

The rules block credit card companies from charging more than $25 for late payments except in extreme circumstances, prevent them from charging customers for not using their cards, and requires them to reconsider rate increases imposed since January 1, 2009, according to the Federal Reserve, which approved the regulations.

[RUMMYisFROSTED]

1. Anything about 13.25%+ usury rates? (Prime plus 10)